PELAGIC_TRADE_LIMITED - Accounts

PELAGIC TRADE LIMITED - Company Information

Print Friendly Version

Company Registration No. 07514551 (England and Wales)

PELAGIC TRADE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

PELAGIC TRADE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PELAGIC TRADE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,292

1,474

Current assets

Debtors

124,793

69,108

Cash at bank and in hand

22,191

97,438

146,984

166,546

Creditors: amounts falling due within one year

(122,519)

(132,488)

Net current assets

24,465

34,058

Total assets less current liabilities

25,757

35,532

Capital and reserves

Called up share capital

500

Profit and loss account

25,257

35,032

Shareholders' funds

25,757

35,532

For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 5 October 2016

Mr IM Marcenuks

Director

Company Registration No. 07514551

PELAGIC TRADE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

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).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

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

33% Straight Line

Fixtures, fittings & equipment

20% Straight Line

1.5

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.

Fixed assets

Tangible assets

Cost

At 1 March 2015

7,570

Additions

1,556

At 29 February 2016

9,126

Depreciation

At 1 March 2015

6,095

Charge for the year

1,739

At 29 February 2016

7,834

Net book value

At 29 February 2016

1,292

At 28 February 2015

1,474

PELAGIC TRADE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

10 ordinary shares of £50 each

500