PV01 Financial Limited - Period Ending 2015-05-31

Registration number: 05297934

PV01 Financial Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Walker & Sutcliffe
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

PV01 Financial Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

PV01 Financial Limited
(Registration number: 05297934)
Abbreviated Balance Sheet at 31 May 2015

		Note			31 May 2015 £			31 May 2014 £
Fixed assets
Tangible fixed assets					1,981			3,181
Current assets
Debtors					40,773			-
Cash at bank and in hand					95,066			86,851
					135,839			86,851
Creditors: Amounts falling due within one year					(19,054)			(28,653)
Net current assets					116,785			58,198
Net assets					118,766			61,379
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					118,764			61,377
Shareholders' funds					118,766			61,379

For the year ending 31 May 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 23 February 2016 and signed on its behalf by:

.........................................
Mrs C M Hutt
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

PV01 Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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	33% reducing balance

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		6,592			6,592
Additions		748			748
At 31 May 2015		7,340			7,340
Depreciation
At 1 June 2014		3,411			3,411
Charge for the year		1,948			1,948
At 31 May 2015		5,359			5,359
Net book value
At 31 May 2015		1,981			1,981
At 31 May 2014		3,181			3,181

Page 2

PV01 Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 May 2015						31 May 2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 3