P C & I O Management Ltd Filleted accounts for Companies House (small and micro)

P C & I O MANAGEMENT LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05685423

P C & I O Management Ltd

Filleted Unaudited Financial Statements

31 January 2018

P C & I O Management Ltd

Statement of Financial Position

31 January 2018

	2018		2017
Note	£	£	£

Current Assets

Debtors	4	11,400	–
Cash at bank and in hand		20,664	92,060
		---------	---------
		32,064	92,060

Creditors: amounts falling due within one year	5	29,794		54,773
		---------		---------
Net Current Assets			2,270	37,287
			-------	---------
Total Assets Less Current Liabilities			2,270	37,287
			-------	---------

Capital and Reserves

Called up share capital	6	4	4
Profit and loss account		2,266	37,283
		-------	---------
Shareholders Funds		2,270	37,287
		-------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31st January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 March 2018 , and are signed on behalf of the board by:

Mr P J Rowlands

Director

Company registration number: 05685423

P C & I O Management Ltd

Notes to the Financial Statements

Year ended 31st January 2018

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

4. Debtors

	2018	2017
	£	£
Other debtors	11,400	–
	---------	----

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	816	–
Corporation tax	14,814	35,474
Social security and other taxes	3,764	3,900
Accruals	650	649
Deferred income	9,750	9,750
Other creditors	–	5,000
	---------	---------
	29,794	54,773
	---------	---------

6. Called Up Share Capital

Authorised share capital

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----

7. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr P J Rowlands	( 2,500)	17,200	( 9,000)	5,700
Mr I P Rowlands	( 2,500)	17,200	( 9,000)	5,700
	-------	---------	---------	---------
	( 5,000)	34,400	( 18,000)	11,400
	-------	---------	---------	---------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr P J Rowlands	–	( 48,500)	46,000	( 2,500)
Mr I P Rowlands	–	( 48,500)	46,000	( 2,500)
	----	---------	---------	-------
	–	( 97,000)	92,000	( 5,000)
	----	---------	---------	-------

The non-interest bearing loans are repayable on demand.