Physical Project Limited - Limited company - abbreviated - 11.6

Physical Project Limited - Limited company - abbreviated - 11.6

PHYSICAL PROJECT LIMITED - Company Information

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REGISTERED NUMBER: 07797830 (England and Wales)














PHYSICAL PROJECT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014






PHYSICAL PROJECT LIMITED (REGISTERED NUMBER: 07797830)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

PHYSICAL PROJECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2014







DIRECTORS: Mr D R Wells
Mrs G J Wells





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 07797830 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU
Page 1
PHYSICAL PROJECT LIMITED (REGISTERED NUMBER: 07797830)

ABBREVIATED BALANCE SHEET
31 OCTOBER 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,462 939

CURRENT ASSETS
Debtors 8,195 1,050
Cash at bank and in hand 4,889 9,607
13,084 10,657
CREDITORS
Amounts falling due within one year 14,395 11,376
NET CURRENT LIABILITIES (1,311 ) (719 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
151
220

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 51 120
SHAREHOLDERS' FUNDS 151 220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 26 February 2015 and were signed on
its behalf by:





Mr D R Wells - Director


The notes form part of these abbreviated accounts

Page 2
PHYSICAL PROJECT LIMITED (REGISTERED NUMBER: 07797830)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014

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 is the amount derived from ordinary activities and stated after trade discounts and net of
Value Added Tax. The revenue is recognised at the point when the company satisfies a performance
obligation as agreed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on cost and 25% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2013 1,402
Additions 1,401
At 31 October 2014 2,803
DEPRECIATION
At 1 November 2013 463
Charge for year 878
At 31 October 2014 1,341
NET BOOK VALUE
At 31 October 2014 1,462
At 31 October 2013 939

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
100 Ordinary £1 100 100

Page 3