Pavo Consulting Limited - Period Ending 2018-10-31
Pavo Consulting Limited - Period Ending 2018-10-31
Registration number:
Pavo Consulting Limited
for the Year Ended 31 October 2018
Pavo Consulting Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Pavo Consulting Limited
(Registration number: 07798562)
Balance Sheet as at 31 October 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets/(liabilities) |
|
( |
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
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
Page 1 |
Pavo Consulting Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
Accounting policies |
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 goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Page 2 |
Pavo Consulting Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Asset class |
Depreciation method and rate |
Office equipment |
33% straight line |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 3 |
Pavo Consulting Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 November 2017 |
|
|
At 31 October 2018 |
|
|
Depreciation |
||
At 1 November 2017 |
|
|
Charge for the year |
|
|
At 31 October 2018 |
|
|
Carrying amount |
||
At 31 October 2018 |
|
|
At 31 October 2017 |
|
|
Debtors |
2018 |
2017 |
|
Trade debtors |
|
|
Other debtors |
- |
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
|
Due within one year |
|||
Directors loan account |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Page 4 |
Pavo Consulting Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
20 |
|
20 |
|
|
19 |
|
19 |
|
|
1 |
|
1 |
|
|
|
|
Loans and borrowings |
2018 |
2017 |
|
Current loans and borrowings |
||
Directors loan account |
|
|
Related party transactions |
Transactions with directors |
2018 |
At 1 November 2017 |
Advances to directors |
Repayments by director |
At 31 October 2018 |
Mr M Peacock |
||||
Interest free loan |
(6,709) |
|
( |
( |
Directors' remuneration
The director's remuneration for the year was as follows:
2018 |
2017 |
|
Remuneration |
|
|
Page 5 |