Company registration number 14018170 (England and Wales)
PI AMERICA LIMITED
Unaudited financial statements
For the period ended 30 September 2023
PI AMERICA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PI AMERICA LIMITED
BALANCE SHEET
As at 30 September 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
138,428
Cash at bank and in hand
10,097
148,525
Creditors: amounts falling due within one year
4
(36,606)
Net current assets
111,919
Capital and reserves
Called up share capital
100
Profit and loss reserves
111,819
Total equity
111,919

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 March 2024
Mr S M Friend
Director
Company registration number 14018170 (England and Wales)
PI AMERICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 30 September 2023
- 2 -
1
Accounting policies
Company information

PI America Limited is a private company limited by shares incorporated in England and Wales. The registered office is .

1.1
Reporting period

The financial statements have been prepared for an 18 month period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

PI AMERICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the period ended 30 September 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
-
0
3
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
13,972
Other debtors
124,456
138,428
4
Creditors: amounts falling due within one year
2023
£
Corporation tax
32,606
Other creditors
4,000
36,606
5
Related party transactions

At 30 September 2023 Simon Friend Entertainment Limited, an entity controlled by S M Friend, owed the company £117,129.

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