Process Control Supplies Ltd - Period Ending 2013-12-31

Registration number: 03900857

Process Control Supplies Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Harrison Salmon Associates
Chartered Certified Accountants
2 Endsleigh Gardens
Leigh
Lancashire
WN7 1LR

Process Control Supplies Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Process Control Supplies Ltd
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Process Control Supplies Ltd for the year ended 31 December 2013 set out on pages 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://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Process Control Supplies Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Process Control Supplies Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Process Control Supplies Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Process Control Supplies Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Process Control Supplies Ltd. You consider that Process Control Supplies Ltd 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 accounts of Process Control Supplies Ltd. 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 accounts.

......................................

Harrison Salmon Associates
Chartered Certified Accountants
2 Endsleigh Gardens
Leigh
Lancashire
WN7 1LR

12 March 2014

Page 1

Process Control Supplies Ltd
(Registration number: 03900857)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					110,387			110,387
Current assets
Debtors					130,138			134,830
Cash at bank and in hand					12,156			15,732
					142,294			150,562
Creditors: Amounts falling due within one year					(30,094)			(76,026)
Net current assets					112,200			74,536
Net assets					222,587			184,923
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					222,586			184,922
Shareholders' funds					222,587			184,923

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 12 March 2014

.........................................
Mr Dean Bowden
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Process Control Supplies Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Buildings	No Depreciation Charged

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		110,387			110,387
At 31 December 2013		110,387			110,387
Depreciation
At 31 December 2013		-			-
Net book value
At 31 December 2013		110,387			110,387
At 31 December 2012		110,387			110,387

Page 3

Process Control Supplies Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 4