Prime Property Abroad Limited Filleted accounts for Companies House (small and micro)

MY PROPERTY GREECE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06194898

Prime Property Abroad Limited

Filleted Unaudited Financial Statements

31 March 2018

Prime Property Abroad Limited

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	5	281	21,687
Cash at bank and in hand		8,548	5,570
		-------	--------
		8,829	27,257

Creditors: amounts falling due within one year	6	7,033		23,677
		-------		--------
Net current assets			1,796	3,580
			-------	-------
Total assets less current liabilities			1,796	3,580
			-------	-------
Net assets			1,796	3,580
			-------	-------

Capital and reserves

Called up share capital	1,200	1,200
Profit and loss account	596	2,380
	-------	-------
Shareholders funds	1,796	3,580
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 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 year 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 financial statements were approved by the board of directors and authorised for issue on 18 March 2019 , and are signed on behalf of the board by:

Mr S Philippidis
Director

Company registration number: 06194898

Prime Property Abroad Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Debtors

	2018	2017
	£	£
Trade debtors	575	994
Other debtors	( 294)	20,693
	----	--------
	281	21,687
	----	--------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	( 12,803)	3,288
Corporation tax	483	483
Other creditors	19,353	19,906
	--------	--------
	7,033	23,677
	--------	--------

7. Director's advances, credits and guarantees

There were no material transactions with Directors during the year that were not concluded under normal market conditions.