Profive Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04433872 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

PROFIVE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A T Knight

P R Lee

G J Tranckle

D R Johnson

SECRETARY:

A T Knight

REGISTERED OFFICE:

Sannerville Chase

Exminster

Exeter

Devon

EX6 8AT

REGISTERED NUMBER:

04433872 (England and Wales)

CURRENT ASSETS

Stocks

930,617

150,689

Debtors

49,448

31,991

Cash at bank

85,099

6,378

1,065,164

189,058

CREDITORS

Amounts falling due within one year

642,425

41,429

NET CURRENT ASSETS

422,739

147,629

TOTAL ASSETS LESS CURRENT
LIABILITIES

422,739

147,629

CREDITORS

Amounts falling due after more than one
year

368,198

598

NET ASSETS

54,541

147,031

CAPITAL AND RESERVES

Called up share capital

2

300

Share premium

59,940

Profit and loss account

(5,699

)

86,791

SHAREHOLDERS' FUNDS

54,541

147,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 2 August 2016 and were signed on its behalf by:

P R Lee - 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 January 2015).

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax

and trade discounts.

Stocks

The company is engaged in speculative development. Costs of projects are charged as incurred. Profit is only

taken when properties are sold.

Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. Net

realisable value is based on estimated selling price less the estimated cost of disposal.

Deferred tax

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

sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

300

Ordinary

£ 1

300