Praetorian Asset Management Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 08551820 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

PRAETORIAN ASSET MANAGEMENT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

F Hussain

REGISTERED OFFICE:

Devonshire House

60 Goswell Road

London

EC1M 7AD

REGISTERED NUMBER:

08551820 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

CURRENT ASSETS

Cash at bank

88

377

CREDITORS

Amounts falling due within one year

3

14,861

11,135

NET CURRENT LIABILITIES

(14,773

)

(10,758

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,773

)

(10,758

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(14,774

)

(10,759

)

(14,773

)

(10,758

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 April 2017 and were signed by:

F Hussain - Director

1.	STATUTORY INFORMATION

Praetorian Asset Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance

from the director that he will continue to give financial support to the company for twelve

months from the date of signing these financial statements. On this basis, the director consider it appropriate to

prepare the accounts on a going concern basis. However, should the financial support mentioned above not be

forthcoming, the going concern basis used in preparing the company's accounts may be invalid and

adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide

for any further liabilities which might arise. The accounts do not include any adjustment to the company's

assets or liabilities that might be necessary should this basis not continue to be appropriate.

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.16

31.5.15

£

£

Other creditors

14,861

11,135

4.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 May 2016 are the first financial statements that comply with

FRS 102. The date of transition is the 1 June 2015. The transition to FRS 102 has resulted in a small number of

changes in accounting policies to those used previously. The nature of these changes and their impact on

opening equity and profit for the comparative period are explained in the notes below.