Paneuro Windows Ltd - Period Ending 2016-10-31

Paneuro Windows Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Registration number: 08745824

Paneuro Windows Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Paneuro Windows Ltd (Registration number: 08745824)
Abbreviated Balance Sheet
at 31 October 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets								589						884
Current assets
Debtors					74,906						88,688
Cash at bank and in hand					-						2,322
					74,906						91,010
Creditors: Amounts falling due within one year					(111,296)						(95,712)
Net current liabilities								(36,390)						(4,702)
Net liabilities								(35,801)						(3,818)
Capital and reserves
Called up share capital		4			100						100
Profit and loss account					(35,901)						(3,918)
Shareholders' deficit								(35,801)						(3,818)

For the year ending 31 October 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 director acknowledges her 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 director on 11 March 2018

.........................................
Mrs M Baker
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Paneuro Windows Ltd
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2016......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The company's balance sheet shows an insolvent position at the balance sheet date. With the continued support of the director, there is adequate funding to finance the company's continuing activities and to enable it to pay its debts as and when they fall due for payment. Accordingly, the director considers that the company is a going concern and the financial statements have been prepared on this basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		1,178			1,178
At 31 October 2016		1,178			1,178
Depreciation
At 1 November 2015		294			294
Charge for the year		295			295
At 31 October 2016		589			589
Net book value
At 31 October 2016		589			589
At 31 October 2015		884			884

Page 2

Paneuro Windows Ltd
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2016......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		19,329			-

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3