Abbreviated Company Accounts - PACE MANAGEMENT LIMITED

Abbreviated Company Accounts - PACE MANAGEMENT LIMITED

PACE MANAGEMENT LIMITED - Company Information

Print Friendly Version

Registered Number 03107479

PACE MANAGEMENT LIMITED

Abbreviated Accounts

31 January 2016

PACE MANAGEMENT LIMITED Registered Number 03107479

Abbreviated Balance Sheet as at 31 January 2016

Notes 2016 2015
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 1,972,032 1,637,160
Investments 3 98 98
1,972,130 1,637,258
Current assets
Debtors 402 731
Cash at bank and in hand 20,085 14,419
20,487 15,150
Creditors: amounts falling due within one year (1,564,101) (1,571,699)
Net current assets (liabilities) (1,543,614) (1,556,549)
Total assets less current liabilities 428,516 80,709
Total net assets (liabilities) 428,516 80,709
Capital and reserves
Called up share capital 2 2
Revaluation reserve 1,193,377 858,377
Profit and loss account (764,863) (777,670)
Shareholders' funds 428,516 80,709
  • For the year ending 31 January 2016 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 24 October 2016

And signed on their behalf by:
H.Varma, Director

PACE MANAGEMENT LIMITED Registered Number 03107479

Notes to the Abbreviated Accounts for the period ended 31 January 2016

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.

Turnover policy
Turnover represents the value,net of vat 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 rate in order to write off the assets over their estimated useful lives at 25% on the written down value.

2Tangible fixed assets
£
Cost
At 1 February 2015 1,649,691
Additions 412
Disposals -
Revaluations 335,000
Transfers -
At 31 January 2016 1,985,103
Depreciation
At 1 February 2015 12,531
Charge for the year 540
On disposals -
At 31 January 2016 13,071
Net book values
At 31 January 2016 1,972,032
At 31 January 2015 1,637,160

3Fixed assets Investments
The company holds 98% of the share capital of Pace Management 1 Limited registered in England