Abbreviated Company Accounts - THE PROPERTY SOURCE EUROPE LTD

THE PROPERTY SOURCE EUROPE LTD - Company Information

08332577 THE PROPERTY SOURCE EUROPE LTD 2014-12-31 false 2014-01-01 2014-12-31 true 08332577 2014-01-01 2014-12-31 08332577 2014-12-31 08332577 2013-12-31 08332577 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 08332577 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 08332577

THE PROPERTY SOURCE EUROPE LTD

Abbreviated Accounts

31 December 2014

THE PROPERTY SOURCE EUROPE LTD Registered Number 08332577

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	6,536	4,688
		6,536	4,688
Current assets
Debtors		22,730	17,312
Cash at bank and in hand		25,467	9,744
		48,197	27,056
Creditors: amounts falling due within one year		(68,939)	(45,631)
Net current assets (liabilities)		(20,742)	(18,575)
Total assets less current liabilities		(14,206)	(13,887)
Provisions for liabilities		(6,945)	(5,834)
Total net assets (liabilities)		(21,151)	(19,721)
Capital and reserves
Called up share capital	3	20,000	20,000
Profit and loss account		(41,151)	(39,721)
Shareholders' funds		(21,151)	(19,721)

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 30 September 2015

And signed on their behalf by:
J. Khan, Director

THE PROPERTY SOURCE EUROPE LTD Registered Number 08332577

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
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - 1/3 Straight line

Other accounting policies
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.

2Tangible fixed assets

	£
Cost
At 1 January 2014	5,209
Additions	4,149
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	9,358
Depreciation
At 1 January 2014	521
Charge for the year	2,301
On disposals	-
At 31 December 2014	2,822
Net book values
At 31 December 2014	6,536
At 31 December 2013	4,688

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
20,000 Ordinary shares of £1 each	20,000	20,000