Pickled Image Theatre Ltd - Abbreviated accounts

Pickled Image Theatre Ltd - Abbreviated accounts


Registered number
05716282
Pickled Image Theatre Ltd
Abbreviated Accounts
31 January 2014
Pickled Image Theatre Ltd
Registered number: 05716282
Abbreviated Balance Sheet
as at 31 January 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 493 658
Current assets
Debtors 27,201 25,837
Cash at bank and in hand 21,745 38,371
48,946 64,208
Creditors: amounts falling due within one year (1,961) (8,141)
Net current assets 46,985 56,067
Total assets less current liabilities 47,478 56,725
Creditors: amounts falling due after more than one year - (11,722)
Net assets 47,478 45,003
Capital and reserves
Profit and loss account 47,478 45,003
Shareholder's funds 47,478 45,003
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Vicky Andrews
Director
Approved by the board on 9 May 2014
Pickled Image Theatre Ltd
Notes to the Abbreviated Accounts
for the year ended 31 January 2014
1 Accounting policies
Basis of preparation
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
#REF!
2 Tangible fixed assets £
Cost
At 1 February 2013 2,388
At 31 January 2014 2,388
Depreciation
At 1 February 2013 1,730
Charge for the year 165
At 31 January 2014 1,895
Net book value
At 31 January 2014 493
At 31 January 2013 658
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