Pita Properties Limited - Abbreviated accounts 16.1
Pita Properties Limited - Abbreviated accounts 16.1
| DRAFT |
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| FOR |
| PITA PROPERTIES LIMITED |
| PITA PROPERTIES LIMITED (REGISTERED NUMBER: 05309138) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| DRAFT |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 5 |
| PITA PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| DRAFT |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| SOLICITORS: |
| PITA PROPERTIES LIMITED (REGISTERED NUMBER: 05309138) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| DRAFT |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve | ( |
) | ( |
) |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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 director on |
| PITA PROPERTIES LIMITED (REGISTERED NUMBER: 05309138) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| DRAFT |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements and going concern |
| The financial statements have been prepared on a going concern basis on the basis of the ongoing support |
| from the shareholder. |
| 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 January 2015). |
| Turnover |
| Turnover represents rents receivable on the company's foreign investment property. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
| in market value is transferred to a revaluation reserve. |
| The investment property has not been depreciated in accordance with the Financial Reporting Standard for |
| Smaller Entities (effective January 2015). This treatment is contrary to the requirements of the Companies Act |
| 2006 to provide for depreciation. The director considers that as investment property is not for consumption |
| but for investment, to depreciate it would not give a true and fair view. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Deferred tax assets are recognised only to the extent that the director considers that it is likely that there will |
| be suitable taxable profits from which the future reversal of the underlying timing differences can be |
| deducted. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
| ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
| result. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2015 |
| Additions |
| At 31 December 2015 |
| DEPRECIATION |
| At 1 January 2015 |
| Charge for year |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| PITA PROPERTIES LIMITED (REGISTERED NUMBER: 05309138) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| DRAFT |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 January 2015 |
| Revaluation in the year | ( |
) |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PITA PROPERTIES LIMITED |
| DRAFT |
| The following reproduces the text of the report prepared for the director 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 Pita Properties Limited for the year ended 31 December 2015 which comprise the Profit and |
| Loss Account, the Balance Sheet, the Statement of Total Recognised Gains and Losses 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 director of Pita Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pita Properties Limited and state those matters that we have agreed to state to the director of Pita Properties Limited 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 director for our work or for this report. |
| It is your duty to ensure that Pita Properties 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 Pita Properties Limited. You consider that Pita Properties 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 Pita Properties 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. |
| We draw your attention to Note 1 of the financial statements stating that the financial statements have been compiled |
| on a going concern basis, not withstanding that the company has a deficiency of shareholders funds. |
| Chartered Accountants |
| Date: ............................................. |