PSI IPV Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08316651 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

PSI IPV LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Pitts

J R Spence

REGISTERED OFFICE:

Jamesons House

Compton Way

Witney

Oxfordshire

OX28 3AB

REGISTERED NUMBER:

08316651 (England and Wales)

ACCOUNTANTS:

Jamesons Limited

Jamesons House

Compton Way

Witney

OX28 3AB

FIXED ASSETS

Tangible assets

4

1,666

6,905

CURRENT ASSETS

Debtors

5

239,251

77,432

Cash at bank

58,227

152,839

297,478

230,271

CREDITORS

Amounts falling due within one year

6

210,457

212,254

NET CURRENT ASSETS

87,021

18,017

TOTAL ASSETS LESS CURRENT LIABILITIES

88,687

24,922

PROVISIONS FOR LIABILITIES

333

1,381

NET ASSETS

88,354

23,541

CAPITAL AND RESERVES

Called up share capital

7

2

1

Retained earnings

88,352

23,540

SHAREHOLDERS' FUNDS

88,354

23,541

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 directors acknowledge their 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 Board of Directors on 18 December 2017 and were signed on its behalf by:

A M Pitts - Director

1.	STATUTORY INFORMATION

PSI IPV 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

23,272

Additions

106

At 31 March 2017

23,378

DEPRECIATION

At 1 April 2016

16,367

Charge for year

5,345

At 31 March 2017

21,712

NET BOOK VALUE

At 31 March 2017

1,666

At 31 March 2016

6,905

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

188,714

-

Other debtors

50,537

77,432

239,251

77,432

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,015

1,032

Taxation and social security

23,659

14,874

Other creditors

181,783

196,348

210,457

212,254

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the year.