Company Registration No. 06467209 (England and Wales)
Piojito Limited
Annual report and unaudited financial statements
For the year ended 31 January 2018
Pages for filing with registrar
PIOJITO LIMITED
Piojito Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PIOJITO LIMITED
Piojito Limited
BALANCE SHEET
AS AT
31 JANUARY 2018
31 January 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Stocks
39,895
22,276
Debtors
3
49,136
49,782
Cash at bank and in hand
96,543
59,550
185,574
131,608
Creditors: amounts falling due within one year
4
(40,595)
(23,314)
Net current assets
144,979
108,294
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
144,978
108,293
Total equity
144,979
108,294
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 3 September 2018
D Lazarus
Director
Company Registration No. 06467209
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents royalties received for physical and digital sales and fees received for licensing and consultancy net of VAT and trade discounts.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 3 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
5,145
13,227
Corporation tax recoverable
1,995
2,183
Other debtors
41,996
34,372
49,136
49,782
4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
7,320
5,436
Corporation tax
8,802
-
Other taxation and social security
440
-
Other creditors
24,033
17,878
40,595
23,314
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
1
1
6
Company information
Piojito Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
55 Loudoun Road, St. John's Wood, London, NW8 0DL.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.