Abbreviated Company Accounts - PANACEA I.T. LIMITED

Abbreviated Company Accounts - PANACEA I.T. LIMITED

PANACEA I.T. LIMITED - Company Information

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Registered Number 03360622

PANACEA I.T. LIMITED

Abbreviated Accounts

31 March 2015

PANACEA I.T. LIMITED Registered Number 03360622

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 3,042 1,412
Investments 3 5,750 5,750
8,792 7,162
Current assets
Debtors 1,314,397 1,273,396
Cash at bank and in hand 73,255 51,256
1,387,652 1,324,652
Creditors: amounts falling due within one year (484,503) (188,513)
Net current assets (liabilities) 903,149 1,136,139
Total assets less current liabilities 911,941 1,143,301
Total net assets (liabilities) 911,941 1,143,301
Capital and reserves
Called up share capital 4 4
Profit and loss account 911,937 1,143,297
Shareholders' funds 911,941 1,143,301
  • For the year ending 31 March 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 directors acknowledge their 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 Board on 27 December 2015

And signed on their behalf by:
C Giles, Director

PANACEA I.T. LIMITED Registered Number 03360622

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

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

Turnover policy
turnover represents provision of goods and services to customers net of vat

Tangible assets depreciation policy
Depreciation is provided to write off assets over economic useful lives using 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 April 2014 20,124
Additions 2,640
Disposals -
Revaluations -
Transfers -
At 31 March 2015 22,764
Depreciation
At 1 April 2014 18,712
Charge for the year 1,010
On disposals -
At 31 March 2015 19,722
Net book values
At 31 March 2015 3,042
At 31 March 2014 1,412

3Fixed assets Investments
held at cost