Plus HR Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06029530 (England and Wales)

PLUS HR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M P Bishop

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

06029530 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,684

3,434

3,684

3,434

CURRENT ASSETS

Debtors

6

61,220

121,745

Cash at bank

183,866

85,115

245,086

206,860

CREDITORS

Amounts falling due within one year

7

(128,269

)

(156,183

)

NET CURRENT ASSETS

116,817

50,677

TOTAL ASSETS LESS CURRENT LIABILITIES

120,501

54,111

CREDITORS

Amounts falling due after more than one year

8

(26,047

)

-

PROVISIONS FOR LIABILITIES

9

(700

)

(687

)

NET ASSETS

93,754

53,424

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

93,604

53,274

SHAREHOLDERS' FUNDS

93,754

53,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 November 2017 and were signed by:

M P Bishop - Director

1.	STATUTORY INFORMATION

Plus HR Limited 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 FRS102 "The Financial Reporting Standards

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure

is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are the first financial statements Plus HR Limited have prepared in accordance with

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS102. The financial

statements of Plus HR Limited for the year ended 31 March 2016 were prepared in accordance with previous UK

GAAP.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy

choices differ from previous UK GAAP. However, the directors have not amended any accounting policies as

there have been no transitional adjustments.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. Turnover represents value of service net of

VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was being amortised

evenly over its estimated useful life of five years and has now been fully amortised.

Tangible fixed assets

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

Computer equipment

-

25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and

the carrying value of the asset and is recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 profit or loss in the period to which they relate.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

366,506

AMORTISATION

At 1 April 2016

and 31 March 2017

366,506

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

11,937

Additions

1,478

At 31 March 2017

13,415

DEPRECIATION

At 1 April 2016

8,503

Charge for year

1,228

At 31 March 2017

9,731

NET BOOK VALUE

At 31 March 2017

3,684

At 31 March 2016

3,434

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

61,220

120,636

Other debtors

-

1,109

61,220

121,745

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

19,188

57,124

Taxation and social security

62,890

55,815

Other creditors

46,191

43,244

128,269

156,183

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

26,047

-

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

700

687

Deferred

tax

£

Balance at 1 April 2016

687

Decelerated capital allowances

13

Balance at 31 March 2017

700