DOWNTOWN_PROPERTY_&_LETTI - Accounts
DOWNTOWN_PROPERTY_&_LETTI - Accounts
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
Company Registration No. 06892956 (England and Wales)
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(23,169 )
(27,881 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(538 )
(718 )
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 25 February 2015
Director
Company Registration No. 06892956
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
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
1.4
Tangible fixed assets and depreciation
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2013 & at 31 May 2014
8,760
Depreciation
At 1 June 2013
5,168
Charge for the year
898
At 31 May 2014
6,066
Net book value
At 31 May 2014
2,694
At 31 May 2013
3,592
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
4
Related party relationships and transactions
Loans from director s
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr M P McVeigh -
-
-
-
11,422
11,546
-
-
11,422
124