PM Associates Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08321880 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PM ASSOCIATES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R P Hutchinson

REGISTERED OFFICE:

7 Audern Road

Scunthorpe

North Lincolnshire

DN16 3LH

REGISTERED NUMBER:

08321880 (England and Wales)

ACCOUNTANTS:

Smethurst & Co LLP

Chartered Accountants

27 Osborne Street

Grimsby

N E Lincs

DN31 1NU

FIXED ASSETS

Intangible assets

4

2,500

5,000

Tangible assets

5

281

375

2,781

5,375

CURRENT ASSETS

Debtors

13,994

9,554

Cash at bank

112,948

96,332

126,942

105,886

CREDITORS

Amounts falling due within one year

32,995

33,791

NET CURRENT ASSETS

93,947

72,095

TOTAL ASSETS LESS CURRENT LIABILITIES

96,728

77,470

PROVISIONS FOR LIABILITIES

57

65

NET ASSETS

96,671

77,405

CAPITAL AND RESERVES

Called up share capital

6

1

1

Profit and loss account

96,670

77,404

SHAREHOLDERS' FUNDS

96,671

77,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 26 September 2017 and were signed by:

R P Hutchinson - Director

1.	STATUTORY INFORMATION

PM Associates Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

The company adopted FRS 102 Section 1A in the current year. No transitional adjustments arose on

the adoption of the Standard.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

Turnover

Turnover is measured at the fair value, excluding value added tax, of services supplied to customers

during the year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

The franchise fee is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation

and accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less

estimated residual value, of each asset on a systematic basis over their expected useful lives as

follows -

Computer equipment - 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss

account, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recognised at transaction price. Any losses arising from impairment are recognised in the profit and

loss account in other administrative expenses.

Loans

Loans payable to a director and shareholder of the company and their close family which are basic

financial instruments are recognised at transaction price in accordance with paragraph 1.15A of FRS

102.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange

for that service.

3.

EMPLOYEES

The average number of employees during the year was 1 (2015 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

12,500

AMORTISATION

At 1 January 2016

7,500

Amortisation for year

2,500

At 31 December 2016

10,000

NET BOOK VALUE

At 31 December 2016

2,500

At 31 December 2015

5,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

802

DEPRECIATION

At 1 January 2016

427

Charge for year

94

At 31 December 2016

521

NET BOOK VALUE

At 31 December 2016

281

At 31 December 2015

375

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1