Primelocal Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02553506 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

Primelocal Property Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Fensham

P R Hutton

K Mallaband

Ms J R Adams

O New

SECRETARY:

MS Bath Secretaries Limited

REGISTERED OFFICE:

30 Gay Street

Bath

BA1 2PA

REGISTERED NUMBER:

02553506 (England and Wales)

ACCOUNTANTS:

Moore

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Tangible assets

4

3,871

3,871

CURRENT ASSETS

Cash at bank

2,479

160

CREDITORS

Amounts falling due within one year

5

1,424

906

NET CURRENT ASSETS/(LIABILITIES)

1,055

(746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,926

3,125

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

4,921

3,120

4,926

3,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2020 and were signed on its behalf by:

K Mallaband - Director

1.	STATUTORY INFORMATION

Primelocal Property Management Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Land and buildings are not depreciated, as in the opinion of the directors the net realisible value of

the properties has not reduced below the original cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Financial instruments

Financial liabilities and equity instruments are classified according to substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the asset of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to

a similar debt instrument, those financial instruments are classed as financial liabilities. Financial

liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to

financial liabilities are included in the profit and loss account. Finance costs are calculated so as to

produce a constant rate of return to the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a

financial liability then this is classed as an equity instrument. Dividends and distributions relating to

equity instruments are debited direct to equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 November 2018

and 31 October 2019

3,871

NET BOOK VALUE

At 31 October 2019

3,871

At 31 October 2018

3,871

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other creditors

1,424

906

6.	RELATED PARTY DISCLOSURES

The company was under the control of five directors throughout the current and previous year. Each

director holds one share in the company and is a flat owner within the property prospect house,

Olivers Lane, Malmesbury, Wiltshire. The company manages this property.

Each flat owner contributes toward the management charge receivable at the rate decided mutually

by the shareholders. During the year £820 (2018 - £720) was received from each flat owner.