Page Property and Financial Limited - Limited company - abbreviated - 11.9
Page Property and Financial Limited - Limited company - abbreviated - 11.9
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts for the Year Ended 31 May 2015 |
for |
Page Property and Financial Limited |
Page Property and Financial Limited (Registered number: 08832845) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 May 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Chartered Accountants' Report | 5 |
Page Property and Financial Limited |
Company Information |
for the Year Ended 31 May 2015 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Page Property and Financial Limited (Registered number: 08832845) |
Abbreviated Balance Sheet |
31 May 2015 |
31.5.15 | 31.5.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 2 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 3 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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 financial statements were approved by the Board of Directors on |
Page Property and Financial Limited (Registered number: 08832845) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 May 2015 |
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 is rental income. |
Investment property |
In accordance with the FRSSE, investment properties are stated at open market values. No depreciation is |
provided, which is a departure from the Companies Act 2006, but is required to provide a true and fair view. The |
directors undertake an annual review of valuations and seek independent professional valuations once every 5 |
years. No provision is made for potential tax arising from revaluation of investment properties as they represent |
unrealised gains. |
Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all |
timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only |
recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax |
is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing |
differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
date |
Rental income |
Rental income arising from investment properties is accounted for on a straight line basis over the lease term. |
2. | INVESTMENT PROPERTY |
Total |
£ |
COST |
Additions |
At 31 May 2015 |
NET BOOK VALUE |
At 31 May 2015 |
3. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
value: | £ | £ |
Ordinary | 1 |
Ordinary B | 1 |
Ordinary C | 1 |
4 | 4 |
Page Property and Financial Limited (Registered number: 08832845) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2015 |
4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 31 May 2015 and the period |
ended 31 May 2014: |
31.5.15 | 31.5.14 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Balance outstanding at end of year | ( |
) |
The above amounts represent the aggregate movements during the year rather than each individual transaction. |
Amounts shown in brackets are due to the directors. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Page Property and Financial Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Page Property and Financial Limited for the year ended 31 May 2015 which comprise the Profit |
and Loss Account, the Balance Sheet and the related notes 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 Page Property and Financial Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Page Property and Financial Limited and state those matters that we have agreed to state to the Board of Directors of Page Property and Financial Limited, 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 the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Page Property and Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Page Property and Financial Limited. You consider that Page Property and Financial 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 financial statements of Page Property and Financial |
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 financial statements. |
26 January 2016 |