Abbreviated Company Accounts - J. PAIN LIMITED

Registered Number 07211873

J. PAIN LIMITED

Abbreviated Accounts

31 March 2014

J. PAIN LIMITED Registered Number 07211873

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,534	3,490
Investments	3	338,842	-
		340,376	3,490
Current assets
Debtors		38,691	43,802
Cash at bank and in hand		52,823	251,203
		91,514	295,005
Creditors: amounts falling due within one year		(52,597)	(56,249)
Net current assets (liabilities)		38,917	238,756
Total assets less current liabilities		379,293	242,246
Total net assets (liabilities)		379,293	242,246
Capital and reserves
Called up share capital		100	100
Profit and loss account		379,193	242,146
Shareholders' funds		379,293	242,246

For the year ending 31 March 2014 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 15 December 2014

And signed on their behalf by:
Mr J A Pain, Director
Dr N K Scott, Director

J. PAIN LIMITED Registered Number 07211873

Notes to the Abbreviated Accounts for the period ended 31 March 2014

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

The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office Equipment - 33.33% straight line

Other accounting policies
Investments

Investments are recorded at cost.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2Tangible fixed assets

	£
Cost
At 1 April 2013	7,787
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	7,787
Depreciation
At 1 April 2013	4,297
Charge for the year	1,956
On disposals	-
At 31 March 2014	6,253
Net book values
At 31 March 2014	1,534
At 31 March 2013	3,490

3Fixed assets Investments
Investments are valued at cost.