Company Registration No. 05061235 (England and Wales)
PRAYOSHA PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
PRAYOSHA PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PRAYOSHA PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
2,030,053
2,260,053
Debtors
16,111
16,111
Cash at bank and in hand
150,384
3,781
2,196,548
2,279,945
Creditors: amounts falling due within one year
(386,751)
(313,731)
Total assets less current liabilities
1,809,797
1,966,214
Creditors: amounts falling due after more than one year
2
(1,437,137)
(1,775,769)
372,660
190,445
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
372,560
190,345
Shareholders' funds
372,660
190,445
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.
Directors' 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 directors acknowledge their 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
S Patel
Director
Company Registration No. 05061235
PRAYOSHA PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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 from property disposals and rents.
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:
Computer equipment
25% on the reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £1,437,137 (2015 - £1,775,769).
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
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