| Premier IT Partnership Limited |
| Registered number: |
03026314 |
| Balance Sheet |
| as at 30 April 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
872,739 |
|
|
897,062 |
| Tangible assets |
3 |
|
|
26,653 |
|
|
29,032 |
|
|
|
|
899,392 |
|
|
926,094 |
|
| Current assets |
| Debtors |
4 |
|
236,522 |
|
|
370,337 |
| Cash at bank and in hand |
|
|
48 |
|
|
- |
|
|
|
236,570 |
|
|
370,337 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,162,484) |
|
|
(1,503,347) |
|
| Net current liabilities |
|
|
|
(925,914) |
|
|
(1,133,010) |
|
| Total assets less current liabilities |
|
|
|
(26,522) |
|
|
(206,916) |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(2,017,417) |
|
|
(1,839,606) |
|
|
|
| Net liabilities |
|
|
|
(2,043,939) |
|
|
(2,046,522) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,516 |
|
|
1,516 |
| Share premium |
|
|
|
138,934 |
|
|
138,934 |
| Profit and loss account |
|
|
|
(2,184,389) |
|
|
(2,186,972) |
|
| Shareholders' funds |
|
|
|
(2,043,939) |
|
|
(2,046,522) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| I West |
| Director |
| Approved by the board on 28 January 2018 |
|
| Premier IT Partnership Limited |
| Notes to the Accounts |
| for the year ended 30 April 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services, which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
|
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
|
| 2 |
Intangible fixed assets |
£ |
|
Development costs |
|
|
Cost |
|
At 1 May 2016 |
1,252,300 |
|
Additions |
157,200 |
|
At 30 April 2017 |
1,409,500 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 May 2016 |
355,238 |
|
Provided during the year |
181,523 |
|
At 30 April 2017 |
536,761 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2017 |
872,739 |
|
At 30 April 2016 |
897,062 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 May 2016 |
169,885 |
|
Additions |
755 |
|
At 30 April 2017 |
170,640 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2016 |
140,853 |
|
Charge for the year |
3,134 |
|
At 30 April 2017 |
143,987 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2017 |
26,653 |
|
At 30 April 2016 |
29,032 |
|
|
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
185,320 |
|
285,610 |
|
Other debtors |
51,202 |
|
84,727 |
|
|
|
|
|
|
236,522 |
|
370,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
126,457 |
|
181,500 |
|
Trade creditors |
158,204 |
|
99,783 |
|
Taxation and social security costs |
83,840 |
|
139,120 |
|
Accruals & deferred income |
793,983 |
|
836,901 |
|
Other creditors |
- |
|
246,043 |
|
|
|
|
|
|
1,162,484 |
|
1,503,347 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Other creditors |
2,017,417 |
|
1,839,606 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The company is controlled by its directors. |
|
|
| 8 |
Other information |
|
|
Premier IT Partnership Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
3rd Floor Ergon House |
|
Horseferry Road |
|
London |
|
SW1P 2AL |
