PFG Properties Limited - Abbreviated accounts

PFG Properties Limited - Abbreviated accounts


Registered number
04841473
PFG Properties Limited
Abbreviated Accounts
31 July 2014
PFG Properties Limited
Registered number: 04841473
Abbreviated Balance Sheet
as at 31 July 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 22,195 28,190
Current assets
Debtors - 8,173
Cash at bank and in hand 52,208 37,277
52,208 45,450
Creditors: amounts falling due within one year (65,671) (48,876)
Net current liabilities (13,463) (3,426)
Total assets less current liabilities 8,732 24,764
Creditors: amounts falling due after more than one year (6,093) (12,186)
Net assets 2,639 12,578
Capital and reserves
Called up share capital 3 200 200
Profit and loss account 2,439 12,378
Shareholders' funds 2,639 12,578
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
P F Gildersleve
Director
Approved by the board on 26 January 2015
PFG Properties Limited
Notes to the Abbreviated Accounts
for the year ended 31 July 2014
1 Accounting policies
Basis of preparation
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
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
At 1 August 2013 48,085
Additions 958
At 31 July 2014 49,043
Depreciation
At 1 August 2013 19,895
Charge for the year 6,953
At 31 July 2014 26,848
Net book value
At 31 July 2014 22,195
At 31 July 2013 28,190
3 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
A Ordinary shares £1 each 100 100 100
B Ordinary shares £1 each 100 100 100
200 200
PFG Properties Limited 04841473 false true 2013-08-01 2014-07-31 2014-07-31 P F Gildersleve 04841473 2013-07-30 04841473 uk-bus:OrdinaryShareClass1 2013-07-30 04841473 uk-bus:OrdinaryShareClass2 2013-07-30 04841473 uk-bus:AllOrdinaryShares 2013-07-30 04841473 2013-08-01 2014-07-31 04841473 uk-bus:Director40 2013-08-01 2014-07-31 04841473 uk-gaap:PlantMachinery 2013-08-01 2014-07-31 04841473 uk-gaap:MotorVehicles 2013-08-01 2014-07-31 04841473 uk-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 04841473 uk-bus:OrdinaryShareClass2 2013-08-01 2014-07-31 04841473 2014-07-31 04841473 uk-bus:OrdinaryShareClass1 2014-07-31 04841473 uk-bus:OrdinaryShareClass2 2014-07-31 04841473 uk-bus:AllOrdinaryShares 2014-07-31 04841473 2013-07-31 iso4217:GBP xbrli:shares