PND_LONDON_LTD - Accounts

PND LONDON LTD - Company Information

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Company Registration No. 09584697 (England and Wales)

PND LONDON LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

PND LONDON LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PND LONDON LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

Notes

Fixed assets

Tangible assets

473,465

Current assets

Debtors

275,246

Cash at bank and in hand

1,072,690

1,347,936

Creditors: amounts falling due within one year

(1,298,379)

Net current assets

49,557

Total assets less current liabilities

523,022

Capital and reserves

Called up share capital

Profit and loss account

523,021

Shareholders' funds

523,022

For the financial year ended 31 May 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 10 February 2017

Mr J Coll Canellas

Director

Company Registration No. 09584697

PND LONDON LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 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:

Land and buildings Leasehold

15 Years Straight Line Basis

Fixtures, fittings & equipment

25% Reducing Balance

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 11 May 2015

Additions

512,815

At 31 May 2016

512,815

Depreciation

At 11 May 2015

Charge for the year

39,350

At 31 May 2016

39,350

Net book value

At 31 May 2016

473,465

PND LONDON LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Share capital

2016

Allotted, called up and fully paid

1 Ordinary Shares of £1 each

Ultimate parent company

The ultimate controlling party for the year was Mr K Bernheimer, by virtue of his majority shareholding.