Prime Accommodation Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02780972 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 June 2016

for

Prime Accommodation Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J R Gokani

B N Khetani

SECRETARY:

J R Gokani

REGISTERED OFFICE:

56 The Broadway

Oadby

Leicester

Leicestershire

LE2 2HE

REGISTERED NUMBER:

02780972 (England and Wales)

FIXED ASSETS

Tangible assets

2

717

1

Investments

3

294,435

295,152

294,436

CURRENT ASSETS

Debtors

22,935

662

Cash at bank

366,901

359,110

389,836

359,772

CREDITORS

Amounts falling due within one year

28,703

15,817

NET CURRENT ASSETS

361,133

343,955

TOTAL ASSETS LESS CURRENT
LIABILITIES

656,285

638,391

CAPITAL AND RESERVES

Called up share capital

4

155,000

Profit and loss account

501,285

483,391

SHAREHOLDERS' FUNDS

656,285

638,391

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 22 March 2017 and were signed on its behalf by:

J R Gokani - 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 gross rents for the year

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Deferred tax

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

sheet date.

Investment properties

In accordance with SSAP 19, Investment Properties have not been subjected to periodic charges for depreciation

on the basis set out in FRS 15.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

31,119

Additions

795

At 30 June 2016

31,914

DEPRECIATION

At 1 July 2015

31,118

Charge for year

79

At 30 June 2016

31,197

NET BOOK VALUE

At 30 June 2016

717

At 30 June 2015

1

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

294,435

NET BOOK VALUE

At 30 June 2016

294,435

At 30 June 2015

294,435

Under SSAP 19, investment properties should be included in the Balance Sheet at their open market value.

The investment properties were professionally revalued in August 2014 in the sum of

£ 860,000 on an open market basis.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

155,000

Ordinary

£1

155,000