Abbreviated Company Accounts - PASSARELLI & CO. LTD

Abbreviated Company Accounts - PASSARELLI & CO. LTD

PASSARELLI & CO. LTD - Company Information

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Registered Number 08795489

PASSARELLI & CO. LTD

Abbreviated Accounts

30 November 2015

PASSARELLI & CO. LTD Registered Number 08795489

Abbreviated Balance Sheet as at 30 November 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 30,759 34,863
30,759 34,863
Current assets
Stocks 500 -
Debtors 6,990 5,169
Cash at bank and in hand 3,818 5,792
11,308 10,961
Creditors: amounts falling due within one year (82,774) (68,601)
Net current assets (liabilities) (71,466) (57,640)
Total assets less current liabilities (40,707) (22,777)
Creditors: amounts falling due after more than one year (2,630) -
Total net assets (liabilities) (43,337) (22,777)
Capital and reserves
Called up share capital 100 100
Profit and loss account (43,437) (22,877)
Shareholders' funds (43,337) (22,777)
  • For the year ending 30 November 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 30 August 2016

And signed on their behalf by:
Maurizio Passarelli, Director

PASSARELLI & CO. LTD Registered Number 08795489

Notes to the Abbreviated Accounts for the period ended 30 November 2015

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 January 2015).

Turnover policy
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.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Plant and machinery -20% Reducing Balance Method
Motor vehicles- 25% straight line

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 December 2014 34,863
Additions 1,500
Disposals -
Revaluations -
Transfers -
At 30 November 2015 36,363
Depreciation
At 1 December 2014 -
Charge for the year 5,604
On disposals -
At 30 November 2015 5,604
Net book values
At 30 November 2015 30,759
At 30 November 2014 34,863