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Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2015-11-01 SC518355 2015-10-31 SC518355 2015-11-01 2017-03-31 SC518355 2017-03-31 SC518355 c:Director1 2015-11-01 2017-03-31 SC518355 c:Director1 2017-03-31 SC518355 c:Director2 2015-11-01 2017-03-31 SC518355 c:Director2 2017-03-31 SC518355 c:Director3 2015-11-01 2017-03-31 SC518355 c:Director3 2017-03-31 SC518355 c:RegisteredOffice 2015-11-01 2017-03-31 SC518355 d:CurrentFinancialInstruments 2017-03-31 SC518355 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 SC518355 d:ShareCapital 2017-03-31 SC518355 d:RetainedEarningsAccumulatedLosses 2017-03-31 SC518355 c:OrdinaryShareClass1 2015-11-01 2017-03-31 SC518355 c:OrdinaryShareClass1 2017-03-31 SC518355 c:FRS102 2015-11-01 2017-03-31 SC518355 c:AuditExempt-NoAccountantsReport 2015-11-01 2017-03-31 SC518355 c:FullAccounts 2015-11-01 2017-03-31 SC518355 c:PrivateLimitedCompanyLtd 2015-11-01 2017-03-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number SC518355




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PERFORM ENGINEERING LIMITED




UNAUDITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017




































 
PERFORM ENGINEERING LIMITED
 
 
COMPANY INFORMATION


Directors
Mr Charles Fleming (appointed 20 October 2015)
Mrs Maureen Fleming (appointed 20 October 2015)
Mr Craig Fleming (appointed 20 October 2015)




Registered number
SC518355



Registered office
Hillochwood
5 Firhills

Letham Grange

Arbroath

Angus

DD11 4QZ




Accountants
Findlay & Company
Chartered Accountants

Peasiehill Road

Arbroath

Angus

DD11 2NJ





 
PERFORM ENGINEERING LIMITED
 

CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 7


 
PERFORM ENGINEERING LIMITED
REGISTERED NUMBER: SC518355

BALANCE SHEET
AS AT 31 MARCH 2017

2017
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
22,632

Cash at bank and in hand
 5 
104,216

  
126,848

Creditors: amounts falling due within one year
 6 
(54,709)

Net current assets
  
 
 
72,139

Total assets less current liabilities
  
72,139

  

Net assets
  
72,139


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
72,039

  
72,139


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 July 2017.



Mr Charles Fleming
Director
The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

1.


General information

Perform Engineering Limited is a private company, limited by shares, incorporated in Scotland within the United Kingdom, (company number SC518355).  The address of the registered office is given on the company information page of these financial statements.
The financial statements cover a 17 month period from 1st November 2015 to 31st March 2017.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The company has chosen the early adoption of Section 1A of the Financial Reporting Standard 102.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

2.Accounting policies (continued)

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Financial instruments

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

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.8

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Debtors

2017
£


Trade debtors
21,573

Other debtors
942

Prepayments and accrued income
117

22,632



5.


Cash and cash equivalents

2017
£

Cash at bank and in hand
104,216

104,216



6.


Creditors: Amounts falling due within one year

2017
£

Corporation tax
42,260

Other taxation and social security
9,849

Other creditors
600

Accruals and deferred income
2,000

54,709


Page 4

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

7.


Financial instruments

2017
£

Financial assets


Financial assets measured at fair value through profit or loss
104,216

104,216





Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


8.


Share capital

2017
£
Shares classified as equity

Allotted, called up and fully paid


100 Ordinary shares of £1 each
100

Enter text here - user input

Page 5

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

9.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 November 2014. The impact of the transition to FRS 102 is as follows:

As previously stated
1 November
2014
Effect of transition
1 November
2014
FRS 102
(as restated)
1 November
2014
As previously stated
31 October
2015
Effect of transition
31 October
2015
Note
£
£
£
£
£

Net current assets
  
 
-
 
-
 
-
 
-
 
-
 
-

Total assets less current liabilities
  
 
-
 
-
 
-
 
-
 
-
 
-

Net  assets
  
 
-
 
-
 
-
 
-
 
-
 
-
Page 6

 
PERFORM ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

           9.First time adoption of FRS 102 (continued)

As previously stated
31 October
2015
Effect of transition
31 October
2015
Note
£
£

  
 
-
 
-
 
-

Operating profit
  
 
-
 
-
 
-

Loss on ordinary activities after taxation and for the financial period
  
 
-
 
-
 
-

Explanation of changes to previously reported profit and equity:

1


 
Page 7