Prismatic Analytics Limited - Period Ending 2016-07-31

Registration number: 09121733

Prismatic Analytics Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Boox
2nd Floor, The Port House
Port Solent Marina
Portsmouth
Hampshire
PO6 4TH

Prismatic Analytics Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Prismatic Analytics Limited
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prismatic Analytics Limited for the year ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Prismatic Analytics Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Prismatic Analytics Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prismatic Analytics Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Prismatic Analytics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Prismatic Analytics Limited. You consider that Prismatic Analytics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Prismatic Analytics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Boox
2nd Floor, The Port House
Port Solent Marina
Portsmouth
Hampshire
PO6 4TH

28 April 2017

Page 1

Prismatic Analytics Limited
(Registration number: 09121733)
Abbreviated Balance Sheet at 31 July 2016

		Note			31 July 2016 £			(As restated) 31 July 2015 £
Current assets
Debtors					566			22,135
Cash at bank and in hand					36,760			1,294
					37,326			23,429
Creditors: Amounts falling due within one year					(11,699)			(5,083)
Net assets					25,627			18,346
Capital and reserves
Called up share capital		2			1			1
Profit and loss account					25,626			18,345
Shareholders' funds					25,627			18,346

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 April 2017

.........................................
Peter Miller
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Prismatic Analytics Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of flat rate value added tax, in respect of the sale of goods and services to customers.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Share capital

Allotted, called up and fully paid shares

	31 July 2016						31 July 2015
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

3	Prior period adjustments

A prior period adjustment has been made due to the omission, in error, of Turnover and Trade Debtor amount of £22,134.20. This has also resulted in the understatement of CorporationTax andsubsequently an adjustment has been made to increase the Corporation Tax Charge by £4,426.80 and Corporation Tax Control Account by the same amount. These adjustments have led to an increase in profit after tax of £17,707.36.

Page 3

Prismatic Analytics Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

4	Related party transactions

Director's advances and credits

	Year ended 31 July 2016 Advance/ Credit £	Year ended 31 July 2016 Repaid £	8 July 2014 to 31 July 2015 Advance/ Credit £	8 July 2014 to 31 July 2015 Repaid £
Peter Miller
Tax free loan to director	564	564	-	-

Page 4