Performance Projects Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07273226 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Performance Projects Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C D J Horton

T E A Goad

REGISTERED OFFICE:

Unit 2220

Silverstone Technology Park

Silverstone Circuit

Towcester

Northamptonshire

NN12 8GX

REGISTERED NUMBER:

07273226 (England and Wales)

ACCOUNTANTS:

Aird Accountancy Limited

Bredaig

Kiltarlity

Beauly

Highland

IV4 7JP

FIXED ASSETS

Tangible assets

4

5,649

2,776

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

23,755

24,561

Cash at bank

34,325

24,792

78,080

69,353

CREDITORS

Amounts falling due within one year

76,313

52,441

NET CURRENT ASSETS

1,767

16,912

TOTAL ASSETS LESS CURRENT LIABILITIES

7,416

19,688

PROVISIONS FOR LIABILITIES

1,130

555

NET ASSETS

6,286

19,133

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

6,280

19,127

SHAREHOLDERS' FUNDS

6,286

19,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 February 2018 and were signed on its behalf by:

C D J Horton - Director

T E A Goad - Director

1.	STATUTORY INFORMATION

Performance Projects 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

28,033

Additions

6,070

At 30 June 2017

34,103

DEPRECIATION

At 1 July 2016

25,257

Charge for year

3,197

At 30 June 2017

28,454

NET BOOK VALUE

At 30 June 2017

5,649

At 30 June 2016

2,776