01 Property Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06289245 (England and Wales)

01 Property Services Ltd

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Lower

Mrs G E Lower

SECRETARY:

M G Lower

REGISTERED OFFICE:

The Old Factory

30-31 Devonshire Place

Brighton

East Sussex

BN2 1QB

REGISTERED NUMBER:

06289245 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Tangible assets

2

33,596

3,020

CURRENT ASSETS

Debtors

151,932

6,735

Cash at bank

1,675

1,568

153,607

8,303

CREDITORS

Amounts falling due within one year

277,844

91,587

NET CURRENT LIABILITIES

(124,237

)

(83,284

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(90,641

)

(80,264

)

CREDITORS

Amounts falling due after more than one
year

(12,631

)

-

PROVISIONS FOR LIABILITIES

(5,307

)

-

NET LIABILITIES

(108,579

)

(80,264

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(108,580

)

(80,265

)

SHAREHOLDERS' FUNDS

(108,579

)

(80,264

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 March 2017 and were signed on its behalf by:

M G Lower - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services and a provision for work done but not actually invoiced at the

year end, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

12,995

Additions

40,390

Disposals

(12,995

)

At 30 June 2016

40,390

DEPRECIATION

At 1 July 2015

9,975

Charge for year

7,234

Eliminated on disposal

(10,415

)

At 30 June 2016

6,794

NET BOOK VALUE

At 30 June 2016

33,596

At 30 June 2015

3,020

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

1

Ordinary

£1

1

4.	ULTIMATE PARENT COMPANY

01 Property Group Limited owns the entire share capital of 01 Property Services Limited.