Profitable Internet Marketing Limited
Profitable Internet Marketing Limited
Registered number: 4046973
Unaudited Financial Statements
For The Year Ended 31 October 2017
Profitable Internet Marketing Limited
Unaudited Financial Statements
For The Year Ended 31 October 2017
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—6 |
Profitable Internet Marketing Limited
Balance Sheet
As at
31 October 2017
Balance Sheet
Registered number:
4046973
For the year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 7 |
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CURRENT ASSETS | |||||
Stocks | 8 |
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Debtors | 9 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 10 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 11 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 12 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS | 16,423 | 20,166 | |||
Page 1
Profitable Internet Marketing Limited
Balance Sheet (continued)
As at
31 October 2017
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Profitable Internet Marketing Limited
Notes to the Unaudited Accounts
For The Year Ended 31 October 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
2017 | 2016 | ||
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Office and administration |
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Page 3
Profitable Internet Marketing Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 October 2017
7.
Tangible Assets
Fixtures & Fittings | |
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£ | |
Cost | |
As at |
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Additions |
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As at |
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Depreciation | |
As at |
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Provided during the period |
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As at |
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Net Book Value | |
As at |
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As at |
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These values have been adopted as deemed cost of the assets concerned on transition to FRS 102.
8.
Stocks
2017 | 2016 | ||
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£ | £ | ||
Stock - materials |
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9.
Debtors
2017 | 2016 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Page 4
Profitable Internet Marketing Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 October 2017
10.
Creditors: Amounts Falling Due Within One Year
2017 | 2016 | ||
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£ | £ | ||
Trade creditors |
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Corporation tax |
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VAT |
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Other creditors |
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Directors' loan accounts |
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11.
Deferred Taxation
2017 | 2016 | ||
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£ | £ | ||
As at |
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Deferred taxation |
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Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
13.
Transition to FRS 102
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit and loss.
Page 5
Profitable Internet Marketing Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 October 2017
14.
General Information
Profitable Internet Marketing Limited Registered number 4046973 is a limited by shares company incorporated in England & Wales. The Registered Office is 21 Rochford Avenue, Whitefield, Manchester, Lancashire, M45 7PQ.
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