PREMIER_PROPERTY_FINANCE_ - Accounts

PREMIER PROPERTY FINANCE LIMITED - Company Information

Print Friendly Version

Company Registration No. 04617446 (England and Wales)

PREMIER PROPERTY FINANCE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

PREMIER PROPERTY FINANCE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PREMIER PROPERTY FINANCE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

385,263

500,193

Current assets

Debtors

311

336

Cash at bank and in hand

1,745

4,179

2,056

4,515

Creditors: amounts falling due within one year

(81,952)

(92,319)

Net current liabilities

(79,896)

(87,804)

Total assets less current liabilities

305,367

412,389

Creditors: amounts falling due after more than one year

(289,550)

(302,262)

Provisions for liabilities

(53)

(39)

15,764

110,088

Capital and reserves

Called up share capital

100

Revaluation reserve

45,311

Profit and loss account

15,664

64,677

Shareholders' funds

15,764

110,088

PREMIER PROPERTY FINANCE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 November 2016

Mr Jonathon Cohen

Director

Company Registration No. 04617446

PREMIER PROPERTY FINANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services.

1.4

Tangible fixed assets and depreciation

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:

Fixtures, fittings & equipment

20% reducing balance/20% straight line basis

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.

PREMIER PROPERTY FINANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

502,574

Additions

217

Revaluation

(115,000)

At 31 March 2016

387,791

Depreciation

At 1 April 2015

2,381

Charge for the year

147

At 31 March 2016

2,528

Net book value

At 31 March 2016

385,263

At 31 March 2015

500,193

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100