PROPERTY DIRECTION LIMITED - Abbreviated accounts

PROPERTY DIRECTION LIMITED - Company Information

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Registered number

05697216

PROPERTY DIRECTION LIMITED

Abbreviated Accounts

28 February 2015

EAGK LLP

Chartered Accountants

PROPERTY DIRECTION LIMITED							Registered number
							05697216
Abbreviated Balance Sheet
as at 28 February 2015

Notes			2015			2014
£				£
Current assets
Stocks		1,097,209			-
Debtors		17,858			-
Cash at bank and in hand		48,733			348,441
		1,163,800			348,441

Creditors: amounts falling due within one year		(717,166)			(38,212)

Net current assets			446,634			310,229

Total assets less current liabilities			446,634			310,229

Creditors: amounts falling due after more than one year			(256,534)			(181,975)

Net assets			190,100			128,254

Capital and reserves
Called up share capital	2		11			11
Profit and loss account			190,089			128,243

Shareholders' funds			190,100			128,254

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 6 October 2015




Mr C Koumourou
Director

PROPERTY DIRECTION LIMITED
Notes to the Abbreviated Accounts
for the year ended 28 February 2015

1	Accounting policies

	Basis of preparation
	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
	Turnover represents the value, net of discounts, of rental income receivable by the company and the proceeds from disposal of properties.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% on reducing balance

	Properties held for work in progress
	Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of work in progress and finished goods includes all production overheads and the attributtable proportion of indirect overheads based on normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2
	B Ordinary shares	£1 each		9		9		9
						11		11