PSITUK Limited - Accounts to registrar (filleted) - small 18.2

PSITUK Limited - Accounts to registrar (filleted) - small 18.2

PSITUK LIMITED - Company Information

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REGISTERED NUMBER: 07145002 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2018

FOR

PSITUK LIMITED
PSITUK LIMITED (REGISTERED NUMBER: 07145002)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2018










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


PSITUK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2018







DIRECTORS: Mr J A Greenfield
Mr I G Norman
Mr G J Swift





REGISTERED OFFICE: 32 Dragon Street
Petersfield
Hampshire
GU31 4JJ





REGISTERED NUMBER: 07145002 (England and Wales)





ACCOUNTANTS: Rothman Pantall LLP
Chartered Accountants
24 Park Road South
Havant
Hampshire
PO9 1HB
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PSITUK LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a
Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of PSITUK Limited for the year ended 28th February 2018 which comprise the Statement of Income and
Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PSITUK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PSITUK Limited and state those matters that we have agreed to state to the Board of Directors of PSITUK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PSITUK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PSITUK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PSITUK Limited. You consider that PSITUK Limited 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 financial statements of PSITUK Limited. 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 financial statements.






Rothman Pantall LLP
Chartered Accountants
24 Park Road South
Havant
Hampshire
PO9 1HB


30th November 2018

This page does not form part of the statutory financial statements

Page 2
PSITUK LIMITED (REGISTERED NUMBER: 07145002)

STATEMENT OF FINANCIAL POSITION
28TH FEBRUARY 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -

CURRENT ASSETS
Debtors 5 13,002 10,296
Cash at bank 90,071 86,360
103,073 96,656
CREDITORS
Amounts falling due within one year 6 14,229 18,329
NET CURRENT ASSETS 88,844 78,327
TOTAL ASSETS LESS CURRENT
LIABILITIES
88,844
78,327

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 88,839 78,322
SHAREHOLDERS' FUNDS 88,844 78,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394
and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30th November 2018 and were signed on its behalf by:





Mr G J Swift - Director


The notes on pages 4 to 5 form part of these financial statements

Page 3
PSITUK LIMITED (REGISTERED NUMBER: 07145002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2018


1. STATUTORY INFORMATION

PSITUK Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements often requires the use of judgements, estimates and assumptions that affect
the reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses
during the reporting period. These judgements, estimates and assumptions are based on management's historical
experience, knowledge and other factors including expectations of future events or actions that are believed to be
reasonable under the circumstances. Actual results may differ from those amounts estimated.

In preparing these financial statements, management do not believe that they have made any critical judgements in
applying the company's accounting policies.

In preparing these financial statements, management do not believe that they have used any significant estimates or
assumptions.

Turnover
Turnover is measured at the fair value of the consideration received or receivable excluding rebates and value
added tax. Turnover relating to annual subscriptions are recognised evenly over the subscription period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Fixed assets are initially recognised at cost and the carry value is reviewed at the end of each accounting period.
Any assets which have become obsolete or redundant are provided for accordingly.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the
extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement
of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 4
PSITUK LIMITED (REGISTERED NUMBER: 07145002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2018


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st March 2017
and 28th February 2018 468
DEPRECIATION
At 1st March 2017
and 28th February 2018 468
NET BOOK VALUE
At 28th February 2018 -
At 28th February 2017 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
VAT 2,473 2,156
Prepayments and accrued income 10,529 8,140
13,002 10,296

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 2,527 209
Taxation and social security 2,480 6,497
Other creditors 9,222 11,623
14,229 18,329

Page 5