Priceright Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05771689 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

FOR

PRICERIGHT DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr V Menelaou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

05771689 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

2

457

609

CURRENT ASSETS

Stocks

90,516

329,978

Debtors

796,167

-

Cash at bank and in hand

1,231

817

887,914

330,795

CREDITORS

Amounts falling due within one year

3

243,770

1,124,371

NET CURRENT ASSETS/(LIABILITIES)

644,144

(793,576

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

644,601

(792,967

)

CREDITORS

Amounts falling due after more than one
year

548,831

308,330

NET ASSETS/(LIABILITIES)

95,770

(1,101,297

)

CAPITAL AND RESERVES

Called up share capital

4

400

Profit and loss account

95,370

(1,101,697

)

SHAREHOLDERS' FUNDS

95,770

(1,101,297

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 April 2017 and were signed by:

Mr V Menelaou - 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 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.

Fixtures fittings & equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Going concern

The director agrees to continue to support the company financially and will not withdraw his loan account for the

foreseeable future. On this basis the director considers the company to be a going concern and have prepared the

accounts on that basis

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

6,703

DEPRECIATION

At 1 May 2015

6,094

Charge for year

152

At 30 April 2016

6,246

NET BOOK VALUE

At 30 April 2016

457

At 30 April 2015

609

3.

CREDITORS

Creditors include an amount of £ 0 (30.4.15 - £ 829,428 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

300

Ordinary A share

£1

300

100

Ordinary B share

£1

100

400