P. P. Net Limited - Period Ending 2015-07-31

Company registration number: 6316288

P. P. Net Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 31 July 2015
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

P. P. Net Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

P. P. Net Limited
(Company registration number: 6316288)
Abbreviated Balance Sheet
31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					828			1,719
Current assets
Debtors					13,103			18,262
Cash at bank and in hand					112,778			88,184
					125,881			106,446
Creditors: Amounts falling due within one year					(8,639)			(15,152)
Net current assets					117,242			91,294
Total assets less current liabilities					118,070			93,013
Provisions for liabilities					(166)			(344)
Net assets					117,904			92,669
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					117,903			92,668
Shareholders' funds					117,904			92,669

The notes on pages 3 to 5 form an integral part of these financial statements.
 
  Page 1

P. P. Net Limited
(Company registration number: 6316288)
Abbreviated Balance Sheet
31 July 2015......... continued

For the year ending 31 July 2015 the company was entitled to exemption from audit 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 his 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 24 January 2016

......................................... Mr A Breton Director

The notes on pages 3 to 5 form an integral part of these financial statements.
 
  Page 2

P. P. Net Limited
Notes to the Abbreviated Accounts
Year Ended 31 July 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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

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	3 years straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

P. P. Net Limited
Notes to the Abbreviated Accounts
Year Ended 31 July 2015......... continued

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2014		4,667			4,667
At 31 July 2015		4,667			4,667
Depreciation
At 1 August 2014		2,948			2,948
Charge for the year		891			891
At 31 July 2015		3,839			3,839
Net book value
At 31 July 2015		828			828
At 31 July 2014		1,719			1,719

Page 4

P. P. Net Limited
Notes to the Abbreviated Accounts
Year Ended 31 July 2015......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

Page 5