Abbreviated Company Accounts - FIRST PROVINCIAL PROPERTIES LIMITED

FIRST PROVINCIAL PROPERTIES LIMITED - Company Information

02395115 FIRST PROVINCIAL PROPERTIES LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 02395115 2014-01-01 2014-12-31 02395115 2014-12-31 02395115 2013-12-31 02395115 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 02395115 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 02395115

FIRST PROVINCIAL PROPERTIES LIMITED

Abbreviated Accounts

31 December 2014

FIRST PROVINCIAL PROPERTIES LIMITED Registered Number 02395115

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	4,990,017	4,785,589
		4,990,017	4,785,589
Current assets
Debtors	3	335,009	1,651,179
Cash at bank and in hand		237,864	274,822
		572,873	1,926,001
Creditors: amounts falling due within one year	4	(238,497)	(233,904)
Net current assets (liabilities)		334,376	1,692,097
Total assets less current liabilities		5,324,393	6,477,686
Creditors: amounts falling due after more than one year	4	(2,487,507)	(2,562,507)
Provisions for liabilities		(103,804)	(88,963)
Total net assets (liabilities)		2,733,082	3,826,216
Capital and reserves
Called up share capital	5	100	100
Revaluation reserve		752,891	752,891
Profit and loss account		1,980,091	3,073,225
Shareholders' funds		2,733,082	3,826,216

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 June 2015

And signed on their behalf by:
MK JOHAL, Director

FIRST PROVINCIAL PROPERTIES LIMITED Registered Number 02395115

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of value added tax.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 15% per annum on the reducing balance method

The freehold property is revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve, and no depreciation is to be provided in respect of this property.

2Tangible fixed assets

	£
Cost
At 1 January 2014	4,845,747
Additions	207,374
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	5,053,121
Depreciation
At 1 January 2014	60,158
Charge for the year	2,946
On disposals	-
At 31 December 2014	63,104
Net book values
At 31 December 2014	4,990,017
At 31 December 2013	4,785,589

3Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	300,000	1,566,148

The above amounts were owed by Three Peaks Investments Limited and this is an associated company. Interest received from this loan during the year was £53065 (2013 £53065).

4Creditors

	2014 £	2013 £
Secured Debts	2,562,507	2,637,507
Instalment debts due after 5 years	2,187,507	2,262,507

5Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100