ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

PAVINGWAYS LIMITED - Company Information

Print Friendly Version

06965982 PAVINGWAYS LIMITED 2013-08-01 2014-07-31 false true 2014-07-31true 06965982 2013-08-01 2014-07-31 06965982 2014-07-31 06965982 2013-07-31 06965982 c:OrdinaryShareClass1 2014-07-31 06965982 c:OrdinaryShareClass1 2013-07-31 06965982 c:OrdinaryShareClass1 2013-08-01 2014-07-31 06965982 c:Director1 2013-08-01 2014-07-31 06965982 c:Director2 2013-08-01 2014-07-31 06965982 c:EntityAccountantsOrAuditors 2014-07-31 06965982 d:ComputerEquipment 2013-08-01 2014-07-31 06965982 c:EntityAccountantsOrAuditors 2013-08-01 2014-07-31 xbrli:shares iso4217:GBP

Registered number: 06965982








PAVINGWAYS LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014





























BAGINSKY COHEN

CHARTERED ACCOUNTANTS
 
PAVINGWAYS LIMITED
 
 
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAVINGWAYS LIMITED
FOR THE YEAR ENDED 31 JULY 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pavingways Limited for the year ended 31 July 2014 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

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


This report is made solely to the Board of directors of Pavingways Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Pavingways Limited and state those matters that we have agreed to state to the Board of directors of Pavingways 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 Pavingways Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Pavingways Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that Pavingways Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Pavingways Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT

23 September 2014
Page 1
 
PAVINGWAYS LIMITED
REGISTERED NUMBER: 06965982


ABBREVIATED BALANCE SHEET
AS AT 31 JULY 2014

2014
2013
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
501
668
 
CURRENT ASSETS





 
Debtors
282
334

 
Cash at bank

6,355
6,690







 
6,637
7,024
 
CREDITORS: amounts falling due within one year
(1,074)
(1,029)
 
NET CURRENT ASSETS


5,563

5,995
 
NET ASSETS
 6,064

 6,663
  
CAPITAL AND RESERVES

 
Called up share capital
3
100
100
 
Profit and loss account
5,964
6,563
 
SHAREHOLDERS' FUNDS
 

 6,064

 6,663


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 23 September 2014.




D. GEORGI
R. GEORGI
Director
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
PAVINGWAYS LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with applicable accounting standards.

1.2
Going concern

The financial statements have been prepared under the going concern basis despite the deficiency of shareholders funds at the year end. The company's ability to continue trading as a going concern is dependent on the continued support of the company's lenders. 

1.3
Cash flow

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.4
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 of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer equipment
-
25% Reducing balance

1.5
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.


2.TANGIBLE FIXED ASSETS



£


Cost 



At 1 August 2013 and 31 July 2014

1,187



Depreciation


At 1 August 2013
519

Charge for the year
167


At 31 July 2014

686




Net book value


At 31 July 2014
 501


At 31 July 2013

 668

Page 3

 
PAVINGWAYS LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014

3.SHARE CAPITAL

        2014
        2013
        £

        £

Authorised, allotted, called up and fully paid



100 Ordinary £1 shares of £1 each
 100
 100

Page 4