Property Professionals South West Limited - Period Ending 2015-03-31

Registration number: 06916435

Property Professionals South West Limited Unaudited Abbreviated Accounts for the Year Ended 31 March 2015

Kennedy Legg
Accountants
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Property Professionals South West Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Property Professionals South West Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Property Professionals South West Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Property Professionals South West Limited, as a body, in accordance with the terms of our engagement letterdated 1 June 2009. Our work has been undertaken solely to prepare for your approval the accounts of Property Professionals South West Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Professionals South West Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Property Professionals South West Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Property Professionals South West Limited. You consider that Property Professionals South West Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Property Professionals South West Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kennedy Legg
Accountants
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

1 December 2015

Page 1

Property Professionals South West Limited
(Registration number: 06916435)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					648			836
Current assets
Debtors					3,766			1,175
Cash at bank and in hand					20,628			16,313
					24,394			17,488
Creditors: Amounts falling due within one year					(14,853)			(11,127)
Net current assets					9,541			6,361
Total assets less current liabilities					10,189			7,197
Provisions for liabilities					(130)			(168)
Net assets					10,059			7,029
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					9,959			6,929
Shareholders' funds					10,059			7,029

For the year ending 31 March 2015 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 director acknowledges his 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 director on 1 December 2015

.........................................
LG Hurford
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Property Professionals South West Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance basis
Office equipment	25% reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		1,625			1,625
At 31 March 2015		1,625			1,625
Depreciation
At 1 April 2014		789			789
Charge for the year		188			188
At 31 March 2015		977			977
Net book value
At 31 March 2015		648			648
At 31 March 2014		836			836

Page 3

Property Professionals South West Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4