Property Bank Limited - Period Ending 2014-12-31

Registration number: 06454421

Property Bank Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

Property Bank Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

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 3) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Property Bank Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Property Bank Limited for the year ended 31 December 2014 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 Bank Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Property Bank 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 Bank Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Property Bank 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 Bank Limited. You consider that Property Bank 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 Bank 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.

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

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

11 February 2016

Page 1

Property Bank Limited
(Registration number: 06454421)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Investments					34,737			34,737
Current assets
Debtors					973			-
Cash at bank and in hand					64			27
					1,037			27
Creditors: Amounts falling due within one year					(17,757)			(15,043)
Net current liabilities					(16,720)			(15,016)
Net assets					18,017			19,721
Capital and reserves
Called up share capital		3			1			1
Revaluation reserve					18,000			18,000
Profit and loss account					16			1,720
Shareholders' funds					18,017			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 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 11 February 2016

.........................................
Mr Plamen Ivanoff
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

Property Bank Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... 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).

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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

		Investments £			Total £
Cost
At 1 January 2014		34,737			34,737
At 31 December 2014		34,737			34,737
Depreciation
At 31 December 2014		-			-
Net book value
At 31 December 2014		34,737			34,737
At 31 December 2013		34,737			34,737

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 3