PAS_TECHNICAL_SERVICES_LI - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and FRS102 Section 1A.

PAS Technical Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Airport House, Suite 43-45 Purley Way, Croydon, Surrey, CR0 0XZ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are considered as immaterial.

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the

Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet

date of the expenditure required to settle the obligation, taking into account relevant risks and

uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).

The director considers the carrying value of trade and other receivables approximate to their fair values.

The director considers the carrying amounts of current liabilities approximate to their fair values.

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

Included in other creditors at the balance sheet date are amounts due from the director, Paul Smith, of £13,109 (2017 - £4,383).