IL_PIAVE_LIMITED - Accounts

IL PIAVE LIMITED - Company Information

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Company Registration No. 05739931 (England and Wales)

IL PIAVE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

IL PIAVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

IL PIAVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Current assets

Debtors

13,450

25,000

Cash at bank and in hand

985

3,661

14,435

28,661

Creditors: amounts falling due within one year

(28,682)

(11,315)

Total assets less current liabilities

(14,247)

17,346

Capital and reserves

Called up share capital

Profit and loss account

(14,250)

17,343

Shareholders' funds

(14,247)

17,346

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 December 2016

R Perin

Director

Company Registration No. 05739931

IL PIAVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has a deficit on the balance sheet. However, most of the funding for the company is by way of directors' loan accounts. The directors have made a commitment not to seek repayment of the loan until there is sufficient liquidity. Consequently the directors are satisfied that it is appropriate for these accounts to be prepared on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services ..

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 less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

Straight line basis over 5 years

1.5

Foreign currency translation

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.

Share capital

2016

2015

Allotted, called up and fully paid

3 Ordinary shares of £1 each