Promogroup Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05179274 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

PROMOGROUP LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

M R Dawson

Miss P C Stainbank

J E Grocott

SECRETARY:

Miss P C Stainbank

REGISTERED OFFICE:

Unit 8

River Reach

Gartons Way

London

SW11 3SX

REGISTERED NUMBER:

05179274 (England and Wales)

ACCOUNTANTS:

Bradbury & Co (Accountants) Limited

34 Middle Street South

Driffield

East Yorkshire

YO25 6PS

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Promogroup Limited for the year ended 31 March 2014 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical

and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Promogroup Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Promogroup Limited and state those matters that we have agreed to state to the Board of

Directors of Promogroup Limited, as a body, in this report in accordance with the requirements of the Association

of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Promogroup Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of

Promogroup Limited. You consider that Promogroup 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 financial statements of Promogroup 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 financial

statements.

Bradbury & Co (Accountants) Limited

34 Middle Street South

Driffield

East Yorkshire

YO25 6PS

Date: .............................................

FIXED ASSETS

Intangible assets

2

10,227

13,637

Tangible assets

3

209,368

181,367

219,595

195,004

CURRENT ASSETS

Stocks

20,000

18,000

Debtors

76,130

169,914

Cash at bank

8,549

-

104,679

187,914

CREDITORS

Amounts falling due within one year

(216,301

)

(209,153

)

NET CURRENT LIABILITIES

(111,622

)

(21,239

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,973

173,765

CREDITORS

Amounts falling due after more than one year

(53,557

)

(78,776

)

PROVISIONS FOR LIABILITIES

(30,300

)

(22,100

)

NET ASSETS

24,116

72,889

CAPITAL AND RESERVES

Called up share capital

4

3

3

Profit and loss account

24,113

72,886

SHAREHOLDERS' FUNDS

24,116

72,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 November 2014 and were signed on its behalf by:

M R Dawson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

The cost of fixed assets is depreciated over their expected useful lives as follows:

Per annum

Fixtures and fittings

20% on cost

The cost of motor vehicles is depreciated to a residual value over their expected useful lives of four years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the

shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

34,097

AMORTISATION

At 1 April 2013

20,460

Amortisation for year

3,410

At 31 March 2014

23,870

NET BOOK VALUE

At 31 March 2014

10,227

At 31 March 2013

13,637

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

318,220

Additions

73,102

At 31 March 2014

391,322

DEPRECIATION

At 1 April 2013

136,853

Charge for year

45,101

At 31 March 2014

181,954

NET BOOK VALUE

At 31 March 2014

209,368

At 31 March 2013

181,367

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

3

Ordinary

£1

3

3