Company Registration No. 03885675 (England and Wales)
PACKAGING SOLUTIONS INTERNATIONAL LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
PACKAGING SOLUTIONS INTERNATIONAL LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PACKAGING SOLUTIONS INTERNATIONAL LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,081
6,071
Current assets
Debtors
70,397
77,703
Cash at bank and in hand
78,233
2,512
148,630
80,215
Creditors: amounts falling due within one year
(31,511)
(3,697)
Net current assets
117,119
76,518
Total assets less current liabilities
120,200
82,589
Provisions for liabilities
-
(550)
120,200
82,039
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
120,198
82,037
Shareholders' funds
120,200
82,039
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 May 2017
Mr J M McCaul
Director
Company Registration No. 03885675
PACKAGING SOLUTIONS INTERNATIONAL LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
20% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015
52,497
Disposals
(35,000)
At 31 October 2016
17,497
Depreciation
At 1 November 2015
46,426
On disposals
(33,528)
Charge for the year
1,518
At 31 October 2016
14,416
Net book value
At 31 October 2016
3,081
At 31 October 2015
6,071
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2
PACKAGING SOLUTIONS INTERNATIONAL LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
4
Related party relationships and transactions
Included within debtors falling due within due one year is
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr J M McCaul - Directors loan
-
-
5,691
-
-
5,691
-
5,691
-
-
5,691