Paolo's Seafood Limited - Abbreviated accounts 16.3

Paolo's Seafood Limited - Abbreviated accounts 16.3

PAOLO'S SEAFOOD LIMITED - Company Information

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REGISTERED NUMBER: 07006958 (England and Wales)














ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

PAOLO'S SEAFOOD LIMITED

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

PAOLO'S SEAFOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2016







DIRECTOR: Mr P Lavarini





SECRETARY: Mr P Lavarini





REGISTERED OFFICE: c/o Michael Filiou Plc
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 07006958 (England and Wales)





ACCOUNTANTS: Michael Filiou Plc
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS
Page 1
PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

ABBREVIATED BALANCE SHEET
30 SEPTEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 11,250 15,000
Tangible assets 3 6,734 8,658
17,984 23,658

CURRENT ASSETS
Stocks 1,062 1,715
Debtors 40,766 50,443
Cash at bank and in hand 5,171 5,923
46,999 58,081
CREDITORS
Amounts falling due within one year 39,858 40,144
NET CURRENT ASSETS 7,141 17,937
TOTAL ASSETS LESS CURRENT
LIABILITIES
25,125
41,595

CREDITORS
Amounts falling due after more than one
year
7,575
34,277
NET ASSETS 17,550 7,318

CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account 17,549 7,317
SHAREHOLDERS' FUNDS 17,550 7,318

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these abbreviated accounts

Page 2 continued...
PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

ABBREVIATED BALANCE SHEET - continued
30 SEPTEMBER 2016


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 director on 30 June 2017 and were signed by:





Mr P Lavarini - Director


The notes form part of these abbreviated accounts

Page 3
PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016


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 2009, is being amortised evenly over its estimated useful life of ten years.

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

Short leasehold - 10 years
Office equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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 October 2015
and 30 September 2016 37,500
AMORTISATION
At 1 October 2015 22,500
Amortisation for year 3,750
At 30 September 2016 26,250
NET BOOK VALUE

At 30 September 2016 11,250
At 30 September 2015 15,000

Page 4 continued...
PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2016


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015
and 30 September 2016 28,364
DEPRECIATION
At 1 October 2015 19,706
Charge for year 1,924
At 30 September 2016 21,630
NET BOOK VALUE
At 30 September 2016 6,734
At 30 September 2015 8,658

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1 Ordinary £1 1 1

Page 5