PRINCIPAL_PROMOTIONS_LIMI - Accounts

PRINCIPAL PROMOTIONS LIMITED - Company Information

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Company Registration No. 2922228 (England and Wales)

PRINCIPAL PROMOTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

PRINCIPAL PROMOTIONS LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

PRINCIPAL PROMOTIONS LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRINCIPAL PROMOTIONS LIMITED FOR THE YEAR ENDED 30 JUNE 2014

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Principal Promotions Limited for the year ended 30 June 2014 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Principal Promotions Limited, as a body, in accordance with the terms of our engagement letter dated 27 May 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Principal Promotions Limited and state those matters that we have agreed to state to the Board of Directors of Principal Promotions Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Principal Promotions Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Principal Promotions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Principal Promotions Limited. You consider that Principal Promotions Limited is exempt from the statutory audit requirement for the year.

Leon Charles Limited

1 September 2014

Chartered Accountants

247 Gray‘s Inn Road

London

WC1X 8QZ

PRINCIPAL PROMOTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 2 -

2014

2013

Notes

Fixed assets

Tangible assets

4,511

5,639

Current assets

Debtors

1,405,355

559,375

Cash at bank and in hand

1,349,954

1,418,340

2,755,309

1,977,715

Creditors: amounts falling due within one year

(1,880,889)

(1,428,560)

Net current assets

874,420

549,155

Total assets less current liabilities

878,931

554,794

Capital and reserves

Called up share capital

30,000

Profit and loss account

848,931

524,794

Shareholders' funds

878,931

554,794

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 September 2014

P Fragakis

Director

Company Registration No. 2922228

PRINCIPAL PROMOTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% reducing balance

Fixed assets

Tangible assets

Cost

At 1 July 2013 & at 30 June 2014

84,809

Depreciation

At 1 July 2013

79,170

Charge for the year

1,128

At 30 June 2014

80,298

Net book value

At 30 June 2014

4,511

At 30 June 2013

5,639

Share capital

2014

2013

Allotted, called up and fully paid

30,000 Ordinary Shares of £1 each

30,000