Pan European Shipping & Agency Serv Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04613179 (England and Wales)

Pan European Shipping

& Agency Services Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S M Hubbard

SECRETARY:

Paifang Nominees (UK) Ltd

REGISTERED OFFICE:

22 Billet Street

Taunton

Somerset

TA1 3NG

REGISTERED NUMBER:

04613179 (England and Wales)

ACCOUNTANTS:

Paifang Accountants and Tax Advisors (UK) Limited

22 Billet Street

Taunton

Somerset

TA1 3NG

CURRENT ASSETS

Debtors

2

407,005

370,213

Cash at bank

3,468

1,688

410,473

371,901

CREDITORS

Amounts falling due within one year

14,191

14,356

NET CURRENT ASSETS

396,282

357,545

TOTAL ASSETS LESS CURRENT LIABILITIES

396,282

357,545

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

396,280

357,543

SHAREHOLDERS' FUNDS

396,282

357,545

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 24 July 2015 and were signed by:

S M Hubbard - 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 is the value of commissions earned during the year.

Foreign currencies

Assets and liabilities in foreign currencies are translated into US$ at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into US$ at the average rate of exchange for the

period.

2.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is $ 0 (2013 - $ (42) )

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

$

$

1

Ordinary Shares

£1

2

2

4.	ULTIMATE CONTROLLING PARTY

Pan European Shipping and Agency Services Ltd acts as agent for an undisclosed offshore company. The

companies are under the common control of Mr V Brezhnev.