PSLC (By Guarantee) Limited
PSLC (By Guarantee) Limited
Registered number: 05039208
Unaudited Financial Statements
For The Year Ended 31 October 2017
PSLC (By Guarantee) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
PSLC (By Guarantee) Limited
Balance Sheet
As at
31 October 2017
Balance Sheet
Registered number:
05039208
For the year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
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| NET ASSETS |
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| RESERVES | |||||
| Other reserves |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | 795,275 | 781,696 | |||
Page 1
PSLC (By Guarantee) Limited
Balance Sheet (continued)
As at
31 October 2017
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
PSLC (By Guarantee) Limited
Notes to the Financial Statements
For The Year Ended 31 October 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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| Fixtures & Fittings |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.
2.
Tangible Assets
| Land & Property | ||||
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| Leasehold | Plant & Machinery | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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Page 3
PSLC (By Guarantee) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2017
3.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Amounts owed by associates |
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4.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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5.
Creditors: Amounts Falling Due After More Than One Year
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| £ | £ | ||
| Other creditors |
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6.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7.
General Information
PSLC (By Guarantee) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 05039208 . The registered office is Stuart Road, Pontefract, WF8 4PQ.
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