Pyramid Designs Limited - Accounts to registrar (filleted) - small 17.3
Pyramid Designs Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
PYRAMID DESIGNS LIMITED |
PYRAMID DESIGNS LIMITED (REGISTERED NUMBER: 08976108) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PYRAMID DESIGNS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
PYRAMID DESIGNS LIMITED (REGISTERED NUMBER: 08976108) |
BALANCE SHEET |
31 JULY 2017 |
2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
PYRAMID DESIGNS LIMITED (REGISTERED NUMBER: 08976108) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
1. | STATUTORY INFORMATION |
Pyramid Designs Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 July 2017 are the first that are prepared in accordance with |
FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
transition to FRS 102 Section 1A is 1 August 2015. |
Critical accounting judgements and key sources of estimation uncertainty |
No significant judgements have had to be made by management in preparing these financial statements. |
There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at |
the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets |
and liabilities within the next financial year. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties, and loans to related parties. |
Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the |
undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments |
are initially measured at present value of the future payments and subsequently at amortised cost using the |
effective interest method. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
PYRAMID DESIGNS LIMITED (REGISTERED NUMBER: 08976108) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | TRANSITION TO FRS 102 |
No changes were required to the profit for the financial year ended 31 July 2016 or the total equity as at 1 August |
2015 and 31 July 2016 between UK GAAP as previously reported and FRS 102. |