Paska Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05838338 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

PASKA LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Midha

Mrs S Midha

SECRETARY:

Mrs S Midha

REGISTERED OFFICE:

10 St. David's Drive

Englefield Green

Surrey

TW20 0BA

REGISTERED NUMBER:

05838338 (England and Wales)

ACCOUNTANTS:

Sterling Associates

Chartered Accountants

5 Theobald Court

Theobald Street

Elstree

Hertfordshire

WD6 4RN

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which the unaudited abbreviated accounts (set out on pages three to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Paska Limited for the year ended 30 June 2016 which comprise the Profit and Loss Account, the Balance Sheet and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Paska Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paska Limited and state those matters that we have agreed to state to the Board of Directors of Paska Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paska Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paska Limited. You consider that Paska Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paska Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling Associates

Chartered Accountants

5 Theobald Court

Theobald Street

Elstree

Hertfordshire

WD6 4RN

31 March 2017

FIXED ASSETS

Intangible assets

2

85,000

115,000

Tangible assets

3

1,885

2,515

86,885

117,515

CURRENT ASSETS

Debtors

5,000

Cash at bank and in hand

15,600

34,943

20,600

39,943

CREDITORS

Amounts falling due within one year

109,802

156,870

NET CURRENT LIABILITIES

(89,202

)

(116,927

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,317

)

588

PROVISIONS FOR LIABILITIES

462

NET (LIABILITIES)/ASSETS

(2,779

)

126

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(2,879

)

26

SHAREHOLDERS' FUNDS

(2,779

)

126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2017 and were signed on its behalf by:

Mrs S Midha - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

150,000

AMORTISATION

At 1 July 2015

35,000

Amortisation for year

30,000

At 30 June 2016

65,000

NET BOOK VALUE

At 30 June 2016

85,000

At 30 June 2015

115,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

3,500

DEPRECIATION

At 1 July 2015

985

Charge for year

630

At 30 June 2016

1,615

NET BOOK VALUE

At 30 June 2016

1,885

At 30 June 2015

2,515

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100