REGISTERED NUMBER: |
DIRECTOR'S REPORT AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
FOR |
PROCUREMENT INTERNATIONAL LTD. |
REGISTERED NUMBER: |
DIRECTOR'S REPORT AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
FOR |
PROCUREMENT INTERNATIONAL LTD. |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
Page |
Company Information | 1 |
Director's Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
PROCUREMENT INTERNATIONAL LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 Beech Court |
Wokingham Road |
Hurst |
Berkshire |
RG10 0RQ |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
DIRECTOR'S REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
The director presents his report with the financial statements of the company for the year ended 30 September 2016. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the distribution of branded merchandise for |
use in corporate and consumer loyalty programmes. |
REVIEW OF BUSINESS |
Sales continued to move forward positively in the year whilst profits were maintained at similar levels to last year |
reflecting investment in the future development of the business. Shareholders' funds increased by 50% to £1,474k and |
cash reserves also increased. |
The new financial year has seen some reduction in activity due to the completion of some client programmes but |
development actions are continuing to restore the Company to a growth path. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
ON BEHALF OF THE BOARD: |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
BALANCE SHEET |
30 SEPTEMBER 2016 |
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
BALANCE SHEET - continued |
30 SEPTEMBER 2016 |
The financial statements were approved by the director on |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
1. | STATUTORY INFORMATION |
Procurement International Ltd. is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Goodwill |
Goodwill is being amortised evenly over its estimated useful life of between five and ten years. |
Tangible fixed assets |
Tangible fixed assets are written off evenly over their estimated useful life as follows:- |
Fixtures and fittings, equipment and motor vehicles 3 - 5 years. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2015 |
and 30 September 2016 |
AMORTISATION |
At 1 October 2015 |
Amortisation for year |
At 30 September 2016 |
NET BOOK VALUE |
At 30 September 2016 |
At 30 September 2015 |
PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2015 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2016 |
DEPRECIATION |
At 1 October 2015 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2016 |
NET BOOK VALUE |
At 30 September 2016 |
At 30 September 2015 |
Fixtures, fittings, equipment and motor vehicles depreciated evenly over a period of 3 to 5 years. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
9. | OTHER FINANCIAL COMMITMENTS |
At 30th September the company had annual commitments under non cancellable operating leases of £104,000 |
(2015 - £104,000) for a period of five years. |