ACCOUNTS - Final Accounts

Factors affecting tax charge for the year/period

The tax assessed for the year/period is higher than (2016 - higher than) the composite rate of corporation tax in the UK of 19.5% (2016 - 20%). The differences are explained below:

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-09-302017-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseProfessional publicationsfalse2016-10-01 01895342 2016-10-01 2017-09-30 01895342 2015-04-01 2016-09-30 01895342 2017-09-30 01895342 2016-09-30 01895342 c:Director1 2016-10-01 2017-09-30 01895342 d:OfficeEquipment 2016-10-01 2017-09-30 01895342 d:OfficeEquipment 2016-09-30 01895342 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-10-01 2017-09-30 01895342 d:CurrentFinancialInstruments 2017-09-30 01895342 d:CurrentFinancialInstruments 2016-09-30 01895342 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-30 01895342 d:CurrentFinancialInstruments d:WithinOneYear 2016-09-30 01895342 d:ShareCapital 2017-09-30 01895342 d:ShareCapital 2016-09-30 01895342 d:SharePremium 2017-09-30 01895342 d:SharePremium 2016-09-30 01895342 d:RetainedEarningsAccumulatedLosses 2016-09-30 01895342 c:OrdinaryShareClass1 2016-10-01 2017-09-30 01895342 c:OrdinaryShareClass1 2017-09-30 01895342 c:FRS102 2016-10-01 2017-09-30 01895342 c:AuditExempt-NoAccountantsReport 2016-10-01 2017-09-30 01895342 c:FullAccounts 2016-10-01 2017-09-30 01895342 c:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01895342

PROFESSIONAL PUBLICATIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017


PROFESSIONAL PUBLICATIONS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


PROFESSIONAL PUBLICATIONS LIMITED REGISTERED NUMBER:01895342

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	5		-		633
Current assets
Debtors: amounts falling due within one year	6	214		297
Cash at bank and in hand		799		4,583
		1,013		4,880
Current liabilities
Creditors: amounts falling due within one year	7	(700)		(694)
Net current assets			313		4,186

Net assets			313		4,819

Capital and reserves
Called up share capital	8	100	100
Share premium account		213	213
Profit and loss account		-	4,506
		313	4,819

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 May 2018.

D T Hawkings

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


PROFESSIONAL PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

1.	General information

Professional Publications Limited is a limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company is publishing of information brochures on taxation.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 or loss.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises revenue recognised by the company in respect of publications supplied during the period, exclusive of Value Added Tax.
Revenue is recognised on delivery.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 2


PROFESSIONAL PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Employees

The average monthly number of employees, including the director, during the year was 1 (2016 - 1).

Page 3


PROFESSIONAL PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

4.	Taxation

Profit/(loss) on ordinary activities before tax

1,611

(2,585)

Profit/(loss) on ordinary activities multiplied by the composite rate of corporation tax in the UK of 19.5% (2016 - 20%)	314	(517)
Effects of:
Depreciation for year in excess of capital allowances	63	63
Unrelieved tax losses (brought/)carried forward	(377)	152
Group relief	-	302
Total tax charge for the year/period	-	-

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 4


PROFESSIONAL PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

5.	Tangible fixed assets

		Office equipment
		£

	At 1 October 2016	949
	Disposals	(949)
	At 30 September 2017	-

	At 1 October 2016	316
	Charge for the year on owned assets	316
	Disposals	(632)
	At 30 September 2017	-
	Net book value
	At 30 September 2017	-
	At 30 September 2016	633

Debtors

					2017	2016
					£	£


Other debtors	-	83
Called up share capital not paid	214	214
	214	297

7.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Amounts owed to group undertakings	700	-
Other creditors	-	294
Accruals and deferred income	-	400
	700	694

Page 5


PROFESSIONAL PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

8.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

9.	Controlling party

The director regards Sec Co Limited, a company registered in England & Wales, as the ultimate parent undertaking. Sec Co Limited is controlled by D T Hawkings, the director of the company.

Page 6