POCKIT LIMITED - Abbreviated accounts

Registered number

07157877

POCKIT LIMITED

ABBREVIATED ACCOUNTS

31 MARCH 2015

POCKIT LIMITED

ABBREVIATED BALANCE SHEET

as at 31 March 2015
Company Registration No.		07157877


Notes				2015			2014
£					£
Fixed assets
Tangible assets		2		58,991			51,149

Current assets
Stocks			10,285			20,478
Debtors			166,466			40,075
Cash at bank and in hand			463			100
			177,214			60,653

Creditors: amounts falling due within one year			(440,325)			(679,654)

Net current liabilities				(263,111)			(619,001)

Net liabilities				(204,120)			(567,852)

Capital and reserves
Called up share capital		3		433,794			326,074
Share premium				1,741,734			461,926
Profit and loss account				(2,379,648)			(1,355,852)

Shareholders' funds				(204,120)			(567,852)

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.

Directors' responsibilities:
-	The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-	The directors acknowledge their responsibilities for complying with the requirements of the act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).


Approved by the board on 22 December 2015



………………………………………
Virraj B Jatania
Director

POCKIT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company's director who is also a shareholder. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholder and director has expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis.

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

	Fixtures, fittings and equipment			20% straight line
	Website costs			33.33% straight line

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 April 2014					81,630
	Additions					47,614
	At 31 March 2015					129,244

	Depreciation
	At 1 April 2014					30,481
	Charge for the year					39,772
	At 31 March 2015					70,253

	Net book value
	At 31 March 2015					58,991
	At 31 March 2014					51,149


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		433,435		433,435		325,715
	A Ordinary shares	£0.01 each		35,927		359		359
						433,794		326,074

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		107,720		107,720