REGISTERED NUMBER: 01438722 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 SEPTEMBER 2014

FOR

PROCUREMENT INTERNATIONAL LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

I Rosewell

SECRETARY:

L.J. Rosewell

REGISTERED OFFICE:

Victory House

17 - 19 Marino Way

Hogwood Industrial Estate

Finchampstead

Berkshire

RG40 4RF

REGISTERED NUMBER:

01438722 (England and Wales)

ACCOUNTANTS:

Vernon Associates

10 Beech Court

Wokingham Road

Hurst

Berkshire

RG10 0RQ

FIXED ASSETS

Intangible assets

2

92,773

100,002

Tangible assets

3

41,806

28,448

134,579

128,450

CURRENT ASSETS

Stocks

407,640

272,138

Debtors

1,385,542

954,397

Cash at bank and in hand

41,932

49,918

1,835,114

1,276,453

CREDITORS

Amounts falling due within one year

1,405,754

1,066,396

NET CURRENT ASSETS

429,360

210,057

TOTAL ASSETS LESS CURRENT LIABILITIES

563,939

338,507

CREDITORS

Amounts falling due after more than one year

-

30,000

NET ASSETS

563,939

308,507

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

563,839

308,407

SHAREHOLDERS' FUNDS

563,939

308,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 January 2015 and were signed by:

I Rosewell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of between five and twenty years.

Tangible fixed assets

Tangible fixed assets are written off evenly over their estimated useful life as follows:-

Fixtures and Fittings 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 the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

163,581

Disposals

(19,000

)

At 30 September 2014

144,581

AMORTISATION

At 1 October 2013

63,579

Amortisation for year

7,229

Eliminated on disposal

(19,000

)

At 30 September 2014

51,808

NET BOOK VALUE

At 30 September 2014

92,773

At 30 September 2013

100,002

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2013

167,309

Additions

31,253

Disposals

(88,495

)

At 30 September 2014

110,067

DEPRECIATION

At 1 October 2013

138,861

Charge for year

17,895

Eliminated on disposal

(88,495

)

At 30 September 2014

68,261

NET BOOK VALUE

At 30 September 2014

41,806

At 30 September 2013

28,448

Fixtures, fittings and equipment depreciated evenly over a period of 3 to 5 years.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2014 and

30 September 2013:

2014

2013

£

£

I Rosewell

Balance outstanding at start of year

17,600

41,500

Amounts repaid

(17,600

)

(23,900

)

Balance outstanding at end of year

-

17,600

6.	RELATED PARTY DISCLOSURES