Abbreviated Company Accounts - PARAMOUNT QUILTING LTD

PARAMOUNT QUILTING LTD - Company Information

Registered Number 09326259

PARAMOUNT QUILTING LTD

Abbreviated Accounts

30 November 2016

PARAMOUNT QUILTING LTD Registered Number 09326259

Abbreviated Balance Sheet as at 30 November 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	54,543	22,673
		54,543	22,673
Current assets
Stocks		9,460	9,460
Debtors		1,912	10,480
Cash at bank and in hand		3,301	2,990
		14,673	22,930
Creditors: amounts falling due within one year		(26,727)	(44,571)
Net current assets (liabilities)		(12,054)	(21,641)
Total assets less current liabilities		42,489	1,032
Total net assets (liabilities)		42,489	1,032
Capital and reserves
Called up share capital		100	100
Profit and loss account		42,389	932
Shareholders' funds		42,489	1,032

For the year ending 30 November 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 31 August 2017

And signed on their behalf by:
Jahan Zeb, Director

PARAMOUNT QUILTING LTD Registered Number 09326259

Notes to the Abbreviated Accounts for the period ended 30 November 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line

2Tangible fixed assets

	£
Cost
At 1 December 2015	25,751
Additions	31,870
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2016	57,621
Depreciation
At 1 December 2015	3,078
Charge for the year	-
On disposals	-
At 30 November 2016	3,078
Net book values
At 30 November 2016	54,543
At 30 November 2015	22,673