PREM-LETS.CO.UK_LIMITED - Accounts

PREM-LETS.CO.UK LIMITED - Company Information

Print Friendly Version

Company Registration No. 07227662 (England and Wales)

PREM-LETS.CO.UK LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

PREM-LETS.CO.UK LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PREM-LETS.CO.UK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

14,298

17,967

Current assets

Debtors

57,000

36,000

Cash at bank and in hand

3,485

2,018

60,485

38,018

Creditors: amounts falling due within one year

(63,417)

(83,807)

Net current liabilities

(2,932)

(45,789)

Total assets less current liabilities

11,366

(27,822)

Capital and reserves

Called up share capital

100

Profit and loss account

11,266

(27,922)

Shareholders' funds

11,366

(27,822)

For the financial year ended 30 April 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 5 January 2017

Mr C S Morland

Mr B S Myers

Director

Company Registration No. 07227662

PREM-LETS.CO.UK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

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 goods and services net of VAT and trade discounts.

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

15% on reducing balance

Motor vehicles

25% on reducing balance

Fixed assets

Tangible assets

Cost

At 1 May 2015 & at 30 April 2016

35,169

Depreciation

At 1 May 2015

17,202

Charge for the year

3,669

At 30 April 2016

20,871

Net book value

At 30 April 2016

14,298

At 30 April 2015

17,967

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

PREM-LETS.CO.UK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

Related party relationships and transactions

(Continued)

- 3 -

During the year the company transacted business with M & M Residential, a partnership controlled by the directors. At the year end the partnership was owed £44,195 (2014 - £36,767).