Abbreviated Company Accounts - PUNCH IT TED LTD

Registered Number 07927000

PUNCH IT TED LTD

Abbreviated Accounts

31 March 2015

PUNCH IT TED LTD Registered Number 07927000

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	2,121	2,452
		2,121	2,452
Current assets
Cash at bank and in hand		74,249	70,428
		74,249	70,428
Creditors: amounts falling due within one year		(75,985)	(70,162)
Net current assets (liabilities)		(1,736)	266
Total assets less current liabilities		385	2,718
Total net assets (liabilities)		385	2,718
Capital and reserves
Called up share capital		100	100
Profit and loss account		285	2,618
Shareholders' funds		385	2,718

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 29 December 2015

And signed on their behalf by:
Mr Paul Gibbs, Director

PUNCH IT TED LTD Registered Number 07927000

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.

ompliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts received for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:

Computer equipment 25% reducing balance
Fixtures, fittings & equipment 25% reducing balance

2Tangible fixed assets

	£
Cost
At 1 April 2014	4,210
Additions	375
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	4,585
Depreciation
At 1 April 2014	1,758
Charge for the year	706
On disposals	-
At 31 March 2015	2,464
Net book values
At 31 March 2015	2,121
At 31 March 2014	2,452