Pallas Limited - Period Ending 2015-07-31
Pallas Limited - Period Ending 2015-07-31
Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Pallas Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pallas Limited
for the Year Ended 31 July 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pallas Limited for the year ended 31 July 2015 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Pallas Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pallas Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pallas Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pallas Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pallas Limited. You consider that Pallas Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Pallas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 3GU
13 April 2016
Pallas Limited
(Registration number: 06301546)
Abbreviated Balance Sheet at 31 July 2015
Note |
2015
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2014
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Shareholders' funds/(deficit) |
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( |
Approved by the director on
.........................................
N James
Director
2
Pallas Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued
Accounting policies |
Basis of preparation
Turnover
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 |
Plant & Machinery |
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Financial instruments
Fixed assets |
Tangible assets
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Total
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Cost |
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At 1 August 2014 |
5,430 |
5,430 |
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At 31 July 2015 |
5,430 |
5,430 |
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Depreciation |
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At 1 August 2014 |
4,663 |
4,663 |
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Charge for the year |
192 |
192 |
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At 31 July 2015 |
4,855 |
4,855 |
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Net book value |
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At 31 July 2015 |
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At 31 July 2014 |
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Pallas Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued
Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
£ |
No. |
£ |
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Related party transactions |
Director's advances and credits |
2015 |
2015 |
2014 |
2014 |
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N James |
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- |
- |
- |
- |
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- |
- |
298 |
- |
- |
- |
298 |
- |
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