PITANI_ASSOCIATES_LIMITED - Accounts

PITANI ASSOCIATES LIMITED - Company Information

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Company Registration No. 09847394 (England and Wales)

PITANI ASSOCIATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2016

PITANI ASSOCIATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PITANI ASSOCIATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

Notes

Fixed assets

Intangible assets

300,000

Current assets

Debtors

11,677

Cash at bank and in hand

1,685

13,362

Creditors: amounts falling due within one year

(268,943)

Net current liabilities

(255,581)

Total assets less current liabilities

44,419

Capital and reserves

Called up share capital

Profit and loss account

44,417

Shareholders' funds

44,419

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

Director's responsibilities:

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

The director acknowledges his 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 27 July 2017

K R Pitani

Director

Company Registration No. 09847394

PITANI ASSOCIATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 OCTOBER 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 director is not aware of any fundamental uncertainties affecting the company and has therefore prepared the financial statements on a 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 services provided .provided.

1.4

Other Intangible Assets

Intangible assets other than goodwill are stated at historic cost and are not depreciated as the director considers that their residual value will not be less than cost as there is an active market for such assets.

Fixed assets

Intangible assets

Cost

At 29 October 2015

Additions

300,000

At 31 October 2016

300,000

Share capital

2016

Allotted, called up and fully paid

1 A ordinary share of £1 each

1 B ordinary share of £1 each

Related party relationships and transactions

PITANI ASSOCIATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 OCTOBER 2016

Related party relationships and transactions

(Continued)

- 3 -

Loan from director

Transactions in relation to a loan from the director during the period are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

K R Pitani - Director's loan

305,332

80,808

224,524

305,332

80,808

224,524

During the period the company acquired from the director a contract to supply Units of Dental Activity for its market value of £300,000.