Preston City Properties Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05844929

Abbreviated Unaudited Accounts

for the Year Ended 30th April 2015

for

Preston City Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D J Bretherton

Mrs V Bretherton

SECRETARY:

Mrs V Bretherton

REGISTERED OFFICE:

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

REGISTERED NUMBER:

05844929

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

FIXED ASSETS

Tangible assets

2

52,065

38,372

CURRENT ASSETS

Stocks

746,000

849,716

Debtors

1,132

-

Cash at bank

343

1,875

747,475

851,591

CREDITORS

Amounts falling due within one year

3

143,168

235,833

NET CURRENT ASSETS

604,307

615,758

TOTAL ASSETS LESS CURRENT LIABILITIES

656,372

654,130

CREDITORS

Amounts falling due after more than one year

3

600,000

600,000

NET ASSETS

56,372

54,130

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

56,370

54,128

SHAREHOLDERS' FUNDS

56,372

54,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19th January 2016 and were signed on its behalf by:

Mr D J Bretherton - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2014

45,835

Additions

15,000

At 30th April 2015

60,835

DEPRECIATION

At 1st May 2014

7,463

Charge for year

1,307

At 30th April 2015

8,770

NET BOOK VALUE

At 30th April 2015

52,065

At 30th April 2014

38,372

3.

CREDITORS

Creditors include an amount of £ 248,000 (2014 - £ 224,716 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2