Abbreviated Company Accounts - PRIORITY INVESTMENT LIMITED

PRIORITY INVESTMENT LIMITED - Company Information

08334844 PRIORITY INVESTMENT LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 08334844 2014-01-01 2014-12-31 08334844 2014-12-31 08334844 2013-12-31 08334844 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 08334844 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:EUR shares

Registered Number 08334844

PRIORITY INVESTMENT LIMITED

Abbreviated Accounts

31 December 2014

PRIORITY INVESTMENT LIMITED Registered Number 08334844

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		€	€
Fixed assets
Tangible assets	2	1,399,103	-
		1,399,103	-
Current assets
Debtors		19,721	222,320
Cash at bank and in hand		4,130	4,690
		23,851	227,010
Creditors: amounts falling due within one year		(934,512)	(228,390)
Net current assets (liabilities)		(910,661)	(1,380)
Total assets less current liabilities		488,442	(1,380)
Creditors: amounts falling due after more than one year		(489,370)	-
Total net assets (liabilities)		(928)	(1,380)
Capital and reserves
Called up share capital	3	1,173	1,173
Profit and loss account		(2,101)	(2,553)
Shareholders' funds		(928)	(1,380)

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 directors acknowledge their 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 Board on 7 April 2016

And signed on their behalf by:
M Farace, Director

PRIORITY INVESTMENT LIMITED Registered Number 08334844

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on a going concern basis dependent on the continued support of its shareholders.

Turnover policy
Turnover represents amounts derived from the principal activity of the company.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

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 director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

2Tangible fixed assets

	€
Cost
At 1 January 2014	-
Additions	1,399,103
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	1,399,103
Depreciation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	1,399,103
At 31 December 2013	-

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 €	2013 €
1,000 Ordinary shares of €1.173 each	1,173	1,173

Please note the share capital is 1,000 ordinary share of £1 each and not 1,000 ordinary share off € 1.173 each