P.R.N. Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04997883 (England and Wales)

P.R.N. Properties Limited

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

245,217

244,998

CURRENT ASSETS

Debtors

16,208

11,335

Cash at bank

16,145

17,149

32,353

28,484

CREDITORS

Amounts falling due within one year

276,818

260,886

NET CURRENT LIABILITIES

(244,465

)

(232,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

752

12,596

CREDITORS

Amounts falling due after more than one year

3

-

(12,397

)

PROVISIONS FOR LIABILITIES

(64

)

(20

)

NET ASSETS

688

179

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

686

177

SHAREHOLDERS' FUNDS

688

179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 February 2015 and were signed by:

Mr P S Rowbotham - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or

a right to pay less or to receive more, tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

245,462

Additions

325

At 31 December 2014

245,787

DEPRECIATION

At 1 January 2014

464

Charge for year

106

At 31 December 2014

570

NET BOOK VALUE

At 31 December 2014

245,217

At 31 December 2013

244,998

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2014

2013

£

£

Repayable otherwise than by instalments

-

12,397

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary shares

£1.00

2

2