Prime Central Properties (Management) Li - Accounts to registrar - small 16.1.1

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PRIME CENTRAL PROPERTIES (MANAGEMENT)

LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Martin

A Beare

SECRETARY:

S Martin

REGISTERED OFFICE:

1st Floor

12 - 16 Portsdown Mews

London

NW11 7HD

REGISTERED NUMBER:

04607615 (England and Wales)

ACCOUNTANTS:

Martin Tiano & Co.

Chartered Accountants

292-294 Hale Lane

Edgware

Middlesex

HA8 8NP

FIXED ASSETS

Tangible assets

4

4,123,000

1,615,000

Investments

5

3

3

4,123,003

1,615,003

CURRENT ASSETS

Debtors: amounts falling due within one year

6

207,348

113,109

Cash at bank

44,660

7,344

252,008

120,453

CREDITORS

Amounts falling due within one year

7

402,075

913,855

NET CURRENT LIABILITIES

(150,067

)

(793,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,972,936

821,601

CREDITORS

Amounts falling due after more than one year

8

(2,500,000

)

(599,266

)

PROVISIONS FOR LIABILITIES

(212,353

)

(42,909

)

NET ASSETS

1,260,583

179,426

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10

1,260,581

179,424

SHAREHOLDERS' FUNDS

1,260,583

179,426

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2015 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 September 2016 and were signed on its behalf by:

A Beare - Director

S Martin - Director

1.	STATUTORY INFORMATION

Prime Central Properties (Management) Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprise fees receivable in respect of construction and project management services, property and

estate management and finance procuration fees, rental income and service charges provided during the year,

net of discounts and returns, excluding Value Added Tax.

Deferred tax

Deferred taxation has been recognised as a liability or asset if transactions have occurred at the balance sheet

date that give rise to an obligation to pay more taxation, or a right to pay less taxation, in the future which timing

differences have originated but not reversed at the balance sheet date. Deferred tax assets are recognised if their

recoverability in the foreseeable future is deemed to be probable. An asset is not recognised to the extent that the

transfer of economic benefits in the future is uncertain. Any liability to deferred tax is provided at the average rate

of tax expected to apply based on tax rates and laws that have been enacted or substantially enacted at the

balance sheet date. Deferred tax assets and liabilities are not discounted to reflect the time value of money.

Value added tax

The company is registered for value added tax but has not elected to waive the exemption to charge value added

tax in respect its property investment. All income related to th property investment is exempt from value added

tax; all expenditure relating to the property investment, where recoverable, is stated excluding value added tax.

All other income and expenditure is stated net of value added tax.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2015

1,615,000

Additions

1,285,916

Revaluations

1,222,084

At 31 December 2015

4,123,000

NET BOOK VALUE

At 31 December 2015

4,123,000

At 31 December 2014

1,615,000

Cost or valuation at 31 December 2015 is represented by:

Totals

£

Valuation in 2015

4,123,000

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2015

2014

£

£

Cost

2,666,888

-

Freehold land and buildings were valued on an open market basis on 4 November 2015 by independent surveyor

.

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2015

and 31 December 2015

3

NET BOOK VALUE

At 31 December 2015

3

At 31 December 2014

3

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Trade debtors

27,540

1,746

Amounts owed by connected undertakings

90,000

105,436

Social security and other tax

562

773

Prepayments and accrued income

89,246

5,154

207,348

113,109

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Trade creditors

79,091

3,334

Amounts owed to parent undertakings

132,905

685,905

Amounts owed to connected undertakings

123,622

209,552

Corporation tax

-

3,900

Other creditors

-

3,763

Accrued expenses

66,457

7,401

402,075

913,855

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2015

2014

£

£

Bank loans - 2-5 years

-

596,171

Bank loans more 5 yrs non-inst

2,500,000

-

Other creditors

-

3,095

2,500,000

599,266

2015

2014

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,500,000

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2015

2014

£

£

Bank loans

2,500,000

596,171

10.

RESERVES

£1,243,759 (2014 - £191,119) of reserves are not distributable.

11.	RELATED PARTY DISCLOSURES

Included in debtors due from connected undertakings is £90,000 (2014 - £105,436) and in creditors due to

connected undertakings is £132,622 (2014 - £209,552) due to and from companies in which Alexander Beare

and Steven Martin are directors and together with their families control the entire issued share capital of those

companies. The amounts are interest free and repayable on demand.

Included in creditors as amounts due to parent undertakings is £128,226 (2014 - £239,179) due to a company in

which Alexander Beare is a director with his family controls the entire issued share capital in that company. The

amount is interest free and repayable on demand.

Included in creditors as amounts due to parent undertakings is £4,679 (2014 - £446,726) due to a company in

which Steven Martin is a director with his family controls the entire issued share capital in that company. The

amount is interest free and repayable on demand.