President Computer Consultants Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: NI008224 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

PRESIDENT COMPUTER CONSULTANTS LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

K McLaughlin

R McLaughlin

SECRETARY:

R A McLaughlin

REGISTERED OFFICE:

17 Clarendon Road

Clarendon Dock

Belfast

Co. Antrim

BT1 3BG

REGISTERED NUMBER:

NI008224 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

Chartered Certified Accountants

17 Clarendon Road

Clarendon Dock

Belfast

BT1 3BG

BANKERS:

Ulster Bank

91-93 University Road

Belfast

BT7 1NG

FIXED ASSETS

Tangible assets

4

951

1,268

CURRENT ASSETS

Debtors

5

78,318

50,540

Cash at bank

56,804

1,542

135,122

52,082

CREDITORS

Amounts falling due within one year

6

209,185

128,109

NET CURRENT LIABILITIES

(74,063

)

(76,027

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(73,112

)

(74,759

)

PROVISIONS FOR LIABILITIES

190

254

NET LIABILITIES

(73,302

)

(75,013

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(73,402

)

(75,113

)

SHAREHOLDERS' FUNDS

(73,302

)

(75,013

)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors on 29 March 2018 and were signed on its behalf by:

K McLaughlin - Director

1.	STATUTORY INFORMATION

President Computer Consultants Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into

consideration include the economic viability and expected future financial performance of the assets and the

business in general.

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 rates in order to write off each asset over its estimated useful life as

follows:

Fixtures & Fittings 25% on reducing balance

Computer Equipment 25% on reducing balance

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at

transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in

the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

841

13,993

14,834

DEPRECIATION

At 1 July 2016

824

12,742

13,566

Charge for year

4

313

317

At 30 June 2017

828

13,055

13,883

NET BOOK VALUE

At 30 June 2017

13

938

951

At 30 June 2016

17

1,251

1,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

9,406

-

Other debtors

68,912

50,540

78,318

50,540

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Taxation and social security

16,936

5,270

Other creditors

192,249

122,839

209,185

128,109

7.	ULTIMATE CONTROLLING PARTY

The controlling party is K McLaughlin.