Abbreviated Company Accounts - PRINCIPALSTREET LIMITED
Abbreviated Company Accounts - PRINCIPALSTREET LIMITED
Registered Number 06279796
PRINCIPALSTREET LIMITED
Abbreviated Accounts
30 June 2016
PRINCIPALSTREET LIMITED Registered Number 06279796
Abbreviated Balance Sheet as at 30 June 2016
| Notes | 2016 | 2015 | |
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| $ | $ | ||
| Current assets | |||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
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( |
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| Net current assets (liabilities) |
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| Total assets less current liabilities |
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| Total net assets (liabilities) |
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| Capital and reserves | |||
| Called up share capital | 2 |
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| Profit and loss account |
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| Shareholders' funds |
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For the year ending 30 June 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
And signed on their behalf by:
PRINCIPALSTREET LIMITED Registered Number 06279796
Notes to the Abbreviated Accounts for the period ended 30 June 2016
1Accounting Policies
Basis of measurement and preparation of accounts
with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover policy
Other accounting policies
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).
The company has not disclosed the ultimate controlling party which is a requirement of the Financial Reporting Standard for Smaller Entities (effective January 2015). This is a departure from the accounting standard. The director is of the opinion that the non disclosure of this information does not affect the truth and fairness of the financial statements.
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into US dollars 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.