Prema Properties Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01427804 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2014

FOR

PREMA PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr M Mandel

Mrs S E Mandel

SECRETARY:

Mrs S E Mandel

REGISTERED OFFICE:

Second Floor

61-67 Old Street

London

EC1V 9HW

REGISTERED NUMBER:

01427804 (England and Wales)

ACCOUNTANTS:

Fordhams & Co.

Chartered Accountants

Second Floor

61-67 Old Street

London

EC1V 9HW

FIXED ASSETS

Tangible assets

2

3,056,419

3,057,065

CURRENT ASSETS

Debtors

2,090

2,420

Cash at bank

129,658

111,327

131,748

113,747

CREDITORS

Amounts falling due within one year

234,655

224,014

NET CURRENT LIABILITIES

(102,907

)

(110,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,953,512

2,946,798

CREDITORS

Amounts falling due after more than one year

3

152,419

279,883

NET ASSETS

2,801,093

2,666,915

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

2,801,091

2,666,913

SHAREHOLDERS' FUNDS

2,801,093

2,666,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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 30 October 2014 and were signed on its behalf by:

Mr M Mandel - Director

Mrs S E Mandel - Director

1.	ACCOUNTING POLICIES

Going concern

The financial statements have been prepared on a going concern basis in so far as at the balance sheet date,the

company's current liabilities exceed its current assets by £102,907 ( 2013: £110,267). On the assumption that the

company's creditors and the directors continue their support the company will be able to continue in operational

existence in the foreseeable future.

The directors believe the financial statements should be prepared on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective March

2001).

Turnover

Turnover represents net invoiced sales of goods, 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.

Freehold property

-

not provided

Fixtures and fittings

-

25% on reducing balance

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

3,062,142

DEPRECIATION

At 1 August 2013

5,077

Charge for year

646

At 31 July 2014

5,723

NET BOOK VALUE

At 31 July 2014

3,056,419

At 31 July 2013

3,057,065

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.7.14

31.7.13

£

£

Repayable by instalments

147,074

274,538

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

2

Ordinary

£1

2

2