Pocket Issue Limited - Period Ending 2017-05-31

Pocket Issue Limited - Period Ending 2017-05-31


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Registration number: 05810303

Pocket Issue Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2017

Broadhead Accountants Limited

 

Pocket Issue Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Comprehensive Income

3

Abridged Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Abridged Financial Statements

6 to 7

 

Pocket Issue Limited

Company Information

Director

Ms Emma Catriona Sturges Hardcastle

Company secretary

Mr Nathaniel David Price

Registered office

68 Carthew Road
London
W6 0DX

Accountants

Broadhead Accountants Limited

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pocket Issue Limited
for the Year Ended 31 May 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pocket Issue Limited for the year ended 31 May 2017 as set out on pages 3 to 7 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 Pocket Issue 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 Pocket Issue Limited and state those matters that we have agreed to state to the Board of Directors of Pocket Issue 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 Pocket Issue Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pocket Issue 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 Pocket Issue Limited. You consider that Pocket Issue 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 Pocket Issue 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.

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

Broadhead Accountants Limited

30 November 2017

 

Pocket Issue Limited

Statement of Comprehensive Income for the Year Ended 31 May 2017

Note

2017
£

2016
£

Profit for the year

 

12,803

18,124

Total comprehensive income for the year

 

12,803

18,124

 

Pocket Issue Limited

(Registration number: 05810303)
Abridged Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Current assets

 

Cash at bank and in hand

 

42,182

29,990

Prepayments and accrued income

 

-

8,820

Creditors: Amounts falling due within one year

(8,646)

(18,077)

Total assets less current liabilities

 

33,536

20,733

Accruals and deferred income

 

(240)

(240)

Net assets

 

33,296

20,493

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

33,196

20,393

Total equity

 

33,296

20,493

For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 30 November 2017
 

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

Ms Emma Catriona Sturges Hardcastle

Director

 

Pocket Issue Limited

Statement of Changes in Equity for the Year Ended 31 May 2017

Share capital
£

Profit and loss account
£

Total
£

At 1 June 2016

100

20,393

20,493

Profit for the year

-

12,803

12,803

Total comprehensive income

-

12,803

12,803

At 31 May 2017

100

33,196

33,296

Share capital
£

Profit and loss account
£

Total
£

At 1 June 2015

100

2,269

2,369

Profit for the year

-

18,124

18,124

Total comprehensive income

-

18,124

18,124

At 31 May 2016

100

20,393

20,493

 

Pocket Issue Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

1

General information

The company is a private company limited by share capital incorporated in the United Kingdom.

The address of its registered office is:
68 Carthew Road
London
W6 0DX
England

These financial statements were authorised for issue by the director on 30 November 2017.

2

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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

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.

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.

 

Pocket Issue Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2016 - 2).