PPL ACS Limited - Filleted accounts

Registered number

07249689

PPL ACS Limited

Filleted Accounts

31 March 2018

PPL ACS Limited
Registered number:		07249689
Balance Sheet
as at 31 March 2018

Notes			2018			2017
£				£
Current assets
Debtors	2	24,224			30,864

Creditors: amounts falling due within one year	3	(9,321)			(18,660)

Net current assets			14,903			12,204

Net assets			14,903			12,204

Capital and reserves
Called up share capital			2			2
Profit and loss account			14,901			12,202

Shareholders' funds			14,903			12,204

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Lawley
Director
Approved by the board on 6 August 2018

PPL ACS Limited
Notes to the Accounts
for the year ended 31 March 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Debtors	2018		2017
£			£

	Trade debtors	4,224		10,864
	Other debtors	20,000		20,000
		24,224		30,864


3	Creditors: amounts falling due within one year	2018		2017
£			£

	Bank loans and overdrafts	2,119		8,182
	Trade creditors	690		690
	Corporation tax	4,738		6,476
	Other taxes and social security costs	1,741		3,233
	Other creditors	33		79
		9,321		18,660


4	Other information

	PPL ACS Limited is a private company limited by shares and incorporated in England. Its registered office is: 1 Franchise Street, Kidderminster Worcs DY11 6RE