PMSI CONSULTING LIMITED - Period Ending 2016-12-31
PMSI CONSULTING LIMITED - Period Ending 2016-12-31
Registration number:
PMSI CONSULTING LIMITED
trading as
for the Year Ended 31 December 2016
3 THE RETREAT GLEBE LANE
ABBERTON
COLCHESTER
Essex
CO5 7NW
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Company Information
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Directors |
Mr Steven Mark Whant Mr Patrick Charles Mosimann |
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Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
for the Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PMSI CONSULTING LIMITED for the year ended 31 December 2016 as set out on pages 3 to 9 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 PMSI CONSULTING 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 PMSI CONSULTING LIMITED and state those matters that we have agreed to state to the Board of Directors of PMSI CONSULTING LIMITED, 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 PMSI CONSULTING LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PMSI CONSULTING 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 loss of PMSI CONSULTING LIMITED. You consider that PMSI CONSULTING 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 PMSI CONSULTING 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.
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ABBERTON
COLCHESTER
Essex
CO5 7NW
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Page 2 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
(Registration number: 08178097)
Balance Sheet as at 31 December 2016
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Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr Steven Mark Whant
Director
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Page 3 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Statement of Changes in Equity for the Year Ended 31 December 2016
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Share capital |
Profit and loss account |
Total |
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At 1 January 2016 |
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( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 31 December 2016 |
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( |
( |
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Share capital |
Profit and loss account |
Total |
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At 1 January 2015 |
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( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 31 December 2015 |
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( |
( |
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Page 4 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
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General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Computer equipment |
1/3 straight line |
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Fixtures and fittings |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Page 5 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Page 6 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
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Tangible assets |
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Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Disposals |
( |
- |
( |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Debtors |
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Note |
2016 |
2015 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
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Page 7 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
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Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Loans and borrowings |
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2016 |
2015 |
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Current loans and borrowings |
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Other borrowings |
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Related party transactions |
Summary of transactions with parent
Repayable on demand
Summary of transactions with other related parties
Repayable on demand
Loans from related parties
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2016 |
Parent |
Other related parties |
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At start of period |
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- |
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Advanced |
- |
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Repaid |
( |
- |
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Interest transactions |
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- |
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At end of period |
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Page 8 |
PMSI CONSULTING LIMITED
trading as PMSI Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
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2015 |
Parent |
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At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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Terms of loans from related parties
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Page 9 |