Abbreviated Company Accounts - NATIONWIDE PROPERTY BUYERS LIMITED

NATIONWIDE PROPERTY BUYERS LIMITED - Company Information

Registered Number 07397892

NATIONWIDE PROPERTY BUYERS LIMITED

Abbreviated Accounts

31 October 2014

NATIONWIDE PROPERTY BUYERS LIMITED Registered Number 07397892

Abbreviated Balance Sheet as at 31 October 2014

	2014	2013
	£	£
Current assets
Stocks	-	532,694
Debtors	663	100,321
Cash at bank and in hand	143,344	20,099
	144,007	653,114
Creditors: amounts falling due within one year	(93,767)	(639,706)
Net current assets (liabilities)	50,240	13,408
Total assets less current liabilities	50,240	13,408
Total net assets (liabilities)	50,240	13,408
Capital and reserves
Called up share capital	100	100
Profit and loss account	50,140	13,308
Shareholders' funds	50,240	13,408

For the year ending 31 October 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 19 June 2015

And signed on their behalf by:
K ANDREWS, Director

NATIONWIDE PROPERTY BUYERS LIMITED Registered Number 07397892

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

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover comprises revenue recognised by the company in respect of properties sold, maintenance charges and rental income received, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost comprises the acquisition and development costs excluding interest. Development costs include infrastructure costs and costs of properties built. The cost of land acquisition includes options to purchase land and the cost of any investigation work prior to purchase.