Company Registration No. 02911519 (England and Wales)
PALACE GATE INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016
PALACE GATE INVESTMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PALACE GATE INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2014
Notes
£
£
£
£
Current assets
Debtors
8,236
10,200
Cash at bank and in hand
7,602
24,386
15,838
34,586
Creditors: amounts falling due within one year
(17,771)
(26,279)
Total assets less current liabilities
(1,933)
8,307
Capital and reserves
Called up share capital
2
4
4
Profit and loss account
(1,937)
8,303
Shareholders' funds
(1,933)
8,307
For the financial Period ended 31 March 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 Period 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 10 October 2016
Mr J R Clark
Director
Company Registration No. 02911519
PALACE GATE INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016
- 2 -
1
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). The accounts are prepared on a going concern basis on the assumptions that the company receives continued support from the director.
The accounts are prepared on a going concern basis on the assumptions that the company receives continued support from the director.
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:
Fixtures, fittings & equipment
33.33% on cost
2
Share capital
2016
2014
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4
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