Abbreviated Company Accounts - P K FINANCIAL LIMITED

P K FINANCIAL LIMITED - Company Information

06212184 P K FINANCIAL LIMITED 2013-10-31 false 2012-11-01 2013-10-31 true 06212184 2012-11-01 2013-10-31 06212184 2013-10-31 06212184 2012-10-31 06212184 uk-gaap-cd-bus:Director1 2012-11-01 2013-10-31 06212184 uk-gaap-cd-bus:Director2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2012-10-31 uk-gaap-cd-bus:OrdinaryShareClass4 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass4 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass4 2012-10-31 iso4217:GBP shares

Registered Number 06212184

P K FINANCIAL LIMITED

Abbreviated Accounts

31 October 2013

P K FINANCIAL LIMITED Registered Number 06212184

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Intangible assets	2	100,556	120,556
Tangible assets	3	3,137	3,343
Investments	4	25,094	14,000
		128,787	137,899
Current assets
Debtors		5,797	34,660
Cash at bank and in hand		27,347	30,903
		33,144	65,563
Net current assets (liabilities)		33,144	65,563
Total assets less current liabilities		161,931	203,462
Creditors: amounts falling due after more than one year		(147,592)	(159,801)
Total net assets (liabilities)		14,339	43,661
Capital and reserves
Called up share capital	5	10,000	10,000
Profit and loss account		4,339	33,661
Shareholders' funds		14,339	43,661

For the year ending 31 October 2013 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 18 July 2014

And signed on their behalf by:
Prakash K Patel, Director

P K FINANCIAL LIMITED Registered Number 06212184

Notes to the Abbreviated Accounts for the period ended 31 October 2013

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 represents the value of commission received in the year from its principal activities.
Goodwill

Tangible assets depreciation policy
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:

Equipment - 25% reducing balance basis

Intangible assets amortisation policy
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation is provided on goodwill so as to write off the cost, less any estimated residual value,
over its useful economic life of 10 years.

Other accounting policies
Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions
The company operates a money purchase scheme which is open to directors and certain employees. The pension contributions made to this plan are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme. The company has no pension obligations beyond the costsso charged.

2Intangible fixed assets

	£
Cost
At 1 November 2012	200,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	200,000
Amortisation
At 1 November 2012	79,444
Charge for the year	20,000
On disposals	-
At 31 October 2013	99,444
Net book values
At 31 October 2013	100,556
At 31 October 2012	120,556

3Tangible fixed assets

	£
Cost
At 1 November 2012	4,676
Additions	839
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	5,515
Depreciation
At 1 November 2012	1,333
Charge for the year	1,045
On disposals	-
At 31 October 2013	2,378
Net book values
At 31 October 2013	3,137
At 31 October 2012	3,343

4Fixed assets Investments
Fixed asset investments are unlisted and stated at historical cost less provision for any diminution in value. They comprise an interest in film partnership schemes for the sum of £20,154 and a minority shareholding in a company registered in the UK for the sum of £4,940.

5Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
6,600 A Ordinary shares of £1 each	6,600	6,600
2,000 B Ordinary shares of £1 each	2,000	2,000
900 C Ordinary shares of £1 each	900	900
500 D Ordinary shares of £1 each	500	500