Registered Number 07181364

PIP (UK) LTD

Abbreviated Accounts

31 December 2014

PIP (UK) LTD Registered Number 07181364

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 14,309 17,715
14,309 17,715
Current assets
Debtors 158,109 99,850
Investments - 16
Cash at bank and in hand 2,026 3,285
160,135 103,151
Creditors: amounts falling due within one year (48,161) (20,050)
Net current assets (liabilities) 111,974 83,101
Total assets less current liabilities 126,283 100,816
Creditors: amounts falling due after more than one year (125,750) (100,000)
Total net assets (liabilities) 533 816
Capital and reserves
Called up share capital 3 2 2
Profit and loss account 531 814
Shareholders' funds 533 816
  • For the year ending 31 December 2014 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 1 April 2015

And signed on their behalf by:
M Williams, Director
P Terry, Director

PIP (UK) LTD Registered Number 07181364

Notes to the Abbreviated Accounts for the period ended 31 December 2014

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 invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Intangible FA 20% reducing balance
Land & buildings 20% reducing balance
Plant and Machinery 20% reducing balance
Motor vehicles 20% reducing balance

Other accounting policies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

2Tangible fixed assets
£
Cost
At 1 January 2014 28,522
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2014 28,522
Depreciation
At 1 January 2014 10,807
Charge for the year 3,406
On disposals -
At 31 December 2014 14,213
Net book values
At 31 December 2014 14,309
At 31 December 2013 17,715

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Intangible FA 20% reducing balance
Land & buildings 20% reducing balance
Plant and Machinery 20% reducing balance
Motor vehicles 20% reducing balance

3Called Up Share Capital
Allotted, called up and fully paid:
2014
£		 2013
£
2 Ordinary shares of £1 each 2 2

4Transactions with directors

Name of director receiving advance or credit: P Terry
Description of the transaction: Various Cashflow issues
Balance at 1 January 2014: £ 48,925
Advances or credits made: £ 18,380
Advances or credits repaid: -
Balance at 31 December 2014: £ 67,305
Name of director receiving advance or credit: M Williams
Description of the transaction: Various Cashflow issues
Balance at 1 January 2014: £ 48,925
Advances or credits made: £ 18,379
Advances or credits repaid: -
Balance at 31 December 2014: £ 67,304

This included all movement for wages; dividends taken; and reimbursements.