P & D Properties (Midlands) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05456442 (England and Wales)

P & D PROPERTIES (MIDLANDS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Robinson

D Preston

REGISTERED OFFICE:

50 Newcastle Avenue

Worksop

Nottinghamshire

S80 1LA

REGISTERED NUMBER:

05456442 (England and Wales)

FIXED ASSETS

Tangible assets

2

221,362

221,603

CURRENT ASSETS

Cash at bank

2,142

2,888

CREDITORS

Amounts falling due within one year

14,065

13,774

NET CURRENT LIABILITIES

(11,923

)

(10,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

209,439

210,717

CREDITORS

Amounts falling due after more than one year

3

200,083

201,062

NET ASSETS

9,356

9,655

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

45,000

45,000

Profit and loss account

(35,646

)

(35,347

)

SHAREHOLDERS' FUNDS

9,356

9,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 February 2016 and were signed on its behalf by:

P Robinson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, 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

-

15% on reducing balance

Land and Buildings have not been depreciated during the year, as required by the Companies Act 2006. This is

in accordance with SSAP19 and the policy has been adopted to provide a true and fair view, since the estimated

net residual value of the property is considered to be at least equal to the cost price.

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 OR VALUATION

At 1 June 2014

and 31 May 2015

226,733

DEPRECIATION

At 1 June 2014

5,130

Charge for year

241

At 31 May 2015

5,371

NET BOOK VALUE

At 31 May 2015

221,362

At 31 May 2014

221,603

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

78,181

93,342

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company was under the control of Mr D Preston and Mr P Robinson throughout the current and previous

year by virtue of the fact that they each own 50% of the ordinary share capital.

The directors have provided additional security from personal property assets in respect of the bank loans and

overdrafts taken out by the company.

Included within other creditors due after one year is a loan from the directors of £67,082 (2014 - £54,065). The

directors do not intend to take any repayment of this loan within the next twelve months.