Abbreviated Company Accounts - PETER BAILEY LIMITED

PETER BAILEY LIMITED - Company Information

07966428 PETER BAILEY LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 07966428 2013-01-01 2013-12-31 07966428 2013-12-31 07966428 2012-12-31 07966428 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 07966428 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 07966428

PETER BAILEY LIMITED

Abbreviated Accounts

31 December 2013

PETER BAILEY LIMITED Registered Number 07966428

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	3,997	2,661
Investments	3	624	624
		4,621	3,285
Current assets
Debtors		653,404	514,860
Cash at bank and in hand		453,068	233,031
		1,106,472	747,891
Creditors: amounts falling due within one year		(925,812)	(682,455)
Net current assets (liabilities)		180,660	65,436
Total assets less current liabilities		185,281	68,721
Total net assets (liabilities)		185,281	68,721
Capital and reserves
Called up share capital	4	10	10
Profit and loss account		185,271	68,711
Shareholders' funds		185,281	68,721

For the year ending 31 December 2013 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 September 2014

And signed on their behalf by:
Peter Bailey, Director

PETER BAILEY LIMITED Registered Number 07966428

Notes to the Abbreviated Accounts for the period ended 31 December 2013

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.

Compliance 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 receivable for photography fees, production costs and agency commission,
net of VAT.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment 25% wdv
Fixtures, fittings & equipment 25% wdv

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The
company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 January 2013	3,549
Additions	2,669
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	6,218
Depreciation
At 1 January 2013	888
Charge for the year	1,333
On disposals	-
At 31 December 2013	2,221
Net book values
At 31 December 2013	3,997
At 31 December 2012	2,661

3Fixed assets Investments
Investments at 31 December 2013 £624

Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company Subsidiary undertakings Peter Bailey LLC
Country of registration or incorporation USA
Shares held % 100.00
Class Ordinary

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Peter Bailey LLC
Principal activity: Photographers Agency
Capital and reserves 2013: £40,270
Profit (loss) for the year 2013: 50,824

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
10 Ordinary shares of £1 each	10	10