Platform 7 Limited - Period Ending 2016-07-31

Platform 7 Limited
Abbreviated Balance Sheet
31 July 2016

 

Company Registration Number: 06634284

		Note			2016 £			2015 £
Fixed assets		2
Tangible fixed assets					27,218			486
Current assets
Debtors					162,462			65,468
Cash at bank and in hand					37,125			34,022
					199,587			99,490
Creditors: Amounts falling due within one year					(83,789)			(25,279)
Net current assets					115,798			74,211
Total assets less current liabilities					143,016			74,697
Provisions for liabilities					(5,834)			-
Net assets					137,182			74,697
Capital and reserves
Called up share capital		3			20,000			20,000
Profit and loss account					117,182			54,697
Shareholders' funds					137,182			74,697

For the year ending 31 July 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 and in accordance with the Financial Reporting Standard for Smaller Entities (Effective 2015).

Approved by the Board on 26 April 2017
and signed on its behalf by:

C I Schofield
Director

P L Hurst
Director

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Platform 7 Limited
Notes to the Abbreviated Accounts
Year Ended 31 July 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable in respect of the provision of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures and fittings

20% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Platform 7 Limited
Notes to the Abbreviated Accounts
Year Ended 31 July 2016

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		4,528			4,528
Additions		27,270			27,270
At 31 July 2016		31,798			31,798
Depreciation
At 1 August 2015		4,042			4,042
Charge for the year		538			538
At 31 July 2016		4,580			4,580
Net book value
At 31 July 2016		27,218			27,218
At 31 July 2015		486			486

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Equity ordinary shares of £1 each		20,000			20,000			20,000			20,000

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