Personnel Vending Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02085988

Abbreviated Accounts

for the Year Ended 30 September 2016

for

Personnel Vending Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Worgan

W Brooks

SECRETARY:

W Brooks

REGISTERED OFFICE:

Unit 16

Block D, Tuffley Park

Lower Tuffley Lane

Gloucester

Gloucestershire

GL2 5DP

REGISTERED NUMBER:

02085988

ACCOUNTANTS:

GCSD Accountants Limited

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

FIXED ASSETS

Intangible assets

2

3,000

4,000

Tangible assets

3

39,252

48,571

42,252

52,571

CURRENT ASSETS

Stocks

32,070

32,387

Debtors

127,125

111,335

Cash at bank and in hand

15,004

823

174,199

144,545

CREDITORS

Amounts falling due within one year

4

177,136

169,492

NET CURRENT LIABILITIES

(2,937

)

(24,947

)

TOTAL ASSETS LESS CURRENT LIABILITIES

39,315

27,624

CREDITORS

Amounts falling due after more than one year

4

-

(9,537

)

PROVISIONS FOR LIABILITIES

(5,816

)

(7,274

)

NET ASSETS

33,499

10,813

CAPITAL AND RESERVES

Called up share capital

5

400

400

Share premium

1,445

1,445

Capital redemption reserve

7,000

7,000

Profit and loss account

24,654

1,968

SHAREHOLDERS' FUNDS

33,499

10,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 January 2017 and were signed on its behalf by:

G Worgan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a customer database in 2008

and a further customer database in 2015, is being amortised evenly over its estimated useful life of 5

years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the term of the lease

Vending machines

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date, where this is considered to be material.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

10,297

AMORTISATION

At 1 October 2015

6,297

Amortisation for year

1,000

At 30 September 2016

7,297

NET BOOK VALUE

At 30 September 2016

3,000

At 30 September 2015

4,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

147,378

Additions

525

At 30 September 2016

147,903

DEPRECIATION

At 1 October 2015

98,807

Charge for year

9,844

At 30 September 2016

108,651

NET BOOK VALUE

At 30 September 2016

39,252

At 30 September 2015

48,571

4.

CREDITORS

Creditors include an amount of £ 44,965 (2015 - £ 66,819 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

400

Ordinary

£1

400

400

6.	TRANSACTIONS WITH DIRECTORS

Rent of £12,250 (2015 : £12,250) was paid to a Self Invested Personal Pension, in which G Worgan

and W Brooks have an interest, for the use of the premises occupied by the company throughout

the year.