Porto Pi Limited - Period Ending 2015-02-28

Registration number: 08876831

Porto Pi Limited

Unaudited Abbreviated Accounts

for the Period from 5 February 2014 to 28 February 2015

 

Porto Pi Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Porto Pi Limited
(Registration number: 08876831)
Abbreviated Balance Sheet at 28 February 2015

		Note			28 February 2015 £
Fixed assets
Tangible fixed assets		2			1,067
Current assets
Debtors					22,555
Cash at bank and in hand					25
					22,580
Creditors: Amounts falling due within one year					(22,102)
Net current assets					478
Total assets less current liabilities					1,545
Capital and reserves
Called up share capital		3			1
Profit and loss account					1,544
Shareholders' funds					1,545

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 11 July 2015

.........................................
T Medlin
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Porto Pi Limited
Notes to the Abbreviated Accounts for the Period from 5 February 2014 to 28 February 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of telecommunications consultancy services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% Straight line basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		1,600			1,600
At 28 February 2015		1,600			1,600
Depreciation
Charge for the period		533			533
At 28 February 2015		533			533
Net book value
At 28 February 2015		1,067			1,067

3	Share capital

Allotted, called up and fully paid shares

	28 February 2015
		No.			£
Ordinary A Class of £1 each		1			1

New shares allotted

During the period 1 Ordinary A Class having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

4	Related party transactions

Director's advances and credits

	5 February 2014 to 28 February 2015 Advance/ Credit £	5 February 2014 to 28 February 2015 Repaid £
T Medlin
	21,833	11,547

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