PS Ventures Limited - Period Ending 2017-09-30

PS VENTURES LIMITED - Company Information

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Registration number: 06693058

PS Ventures Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

PS Ventures Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 3

PS Ventures Limited

(Registration number: 06693058)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Current assets
Debtors	4	575	1,581
Cash at bank and in hand		419	231
		994	1,812
Creditors: Amounts falling due within one year	5	(12,302)	(6,323)
Net liabilities		(11,308)	(4,511)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(11,408)	(4,611)
Total equity		(11,308)	(4,511)

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 June 2018

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

Mr P Simpson

Director

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

Page 1

PS Ventures Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
Flat 17, Windermere
Lytton Grove
London
SW15 2ER
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of services for web development. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for web development services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Page 2

PS Ventures Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

Debtors

	2017 £	2016 £
Trade debtors	245	303
Prepayments	78	1,026
Other debtors	252	252
	575	1,581

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Trade creditors	31	31
Other creditors	12,271	6,292
	12,302	6,323

Page 3