Priory Property and Investment Company - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02480046 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2015

for

Priory Property and Investment Company

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A A Hensher MBE

N Hensher

Mrs J Hensher

SECRETARY:

Mrs J Hensher

REGISTERED OFFICE:

11 Manor Road

Deal

Kent

CT14 9DB

REGISTERED NUMBER:

02480046 (England and Wales)

ACCOUNTANTS:

A.K & Co (Accountancy Services) Ltd

19 Victoria Terrace

Hove

East Sussex

BN3 2WB

FIXED ASSETS

Tangible assets

2

4,964

7,413

Investment property

3

1,450,509

1,450,509

1,455,473

1,457,922

CURRENT ASSETS

Prepayments and accrued income

824

-

Cash at bank

15,288

11,687

16,112

11,687

CREDITORS

Amounts falling due within one year

4

180,095

196,326

NET CURRENT LIABILITIES

(163,983

)

(184,639

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,291,490

1,273,283

CREDITORS

Amounts falling due after more than one year

4

193,501

243,282

NET ASSETS

1,097,989

1,030,001

CAPITAL AND RESERVES

Called up share capital

5

100

100

Revaluation reserve

590,500

590,500

Capital redemption reserve

100

100

Profit and loss account

507,289

439,301

SHAREHOLDERS' FUNDS

1,097,989

1,030,001

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 6 January 2016 and were signed on its behalf by:

N Hensher - 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 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.

Plant and machinery etc

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible

assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the

financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors

reflected in the annual valuation and the amount of this, which might have otherwise been charged, cannot be

separately identified or quantified.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

97,119

DEPRECIATION

At 1 May 2014

89,706

Charge for year

2,449

At 30 April 2015

92,155

NET BOOK VALUE

At 30 April 2015

4,964

At 30 April 2014

7,413

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 May 2014

and 30 April 2015

1,450,509

NET BOOK VALUE

At 30 April 2015

1,450,509

At 30 April 2014

1,450,509

4.

CREDITORS

Creditors include an amount of £ 242,284 (2014 - £ 291,715 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100