The Property Management Group Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 02489523 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

FOR

THE PROPERTY MANAGEMENT GROUP LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

6

DIRECTORS:

Mrs J Rich

D Rich

SECRETARY:

D Rich

REGISTERED OFFICE:

360 Gloucester Road

Horfield

Bristol

BS7 8TP

REGISTERED NUMBER:

02489523 (England and Wales)

ACCOUNTANTS:

PJE Chartered Accountants

3 Oakfield Court

Oakfield Road

Clifton

Bristol

BS8 2BD

FIXED ASSETS

Tangible assets

2

2,959,445

2,870,081

CURRENT ASSETS

Debtors

116,251

119,647

Cash at bank and in hand

227,627

209,577

343,878

329,224

CREDITORS

Amounts falling due within one year

3

321,802

311,814

NET CURRENT ASSETS

22,076

17,410

TOTAL ASSETS LESS CURRENT LIABILITIES

2,981,521

2,887,491

CREDITORS

Amounts falling due after more than one year

3

1,833,151

1,852,139

NET ASSETS

1,148,370

1,035,352

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

1,045,721

962,642

Profit and loss account

102,549

72,610

SHAREHOLDERS' FUNDS

1,148,370

1,035,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 17 November 2014 and were signed on its behalf by:

D Rich - Director

1.	ACCOUNTING POLICIES

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 April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

not provided

Furniture in rented property

-

25% on cost

Fixtures and fittings

-

33.3% on cost

Motor vehicles

-

33.3% 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.

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 OR VALUATION

At 1 March 2013

2,893,529

Additions

20,341

Disposals

(3,000

)

Revaluations

83,079

At 28 February 2014

2,993,949

DEPRECIATION

At 1 March 2013

23,448

Charge for year

14,056

Eliminated on disposal

(3,000

)

At 28 February 2014

34,504

NET BOOK VALUE

At 28 February 2014

2,959,445

At 28 February 2013

2,870,081

3.

CREDITORS

Creditors include an amount of £ 1,867,904 (28.2.13 - £ 1,888,923 ) for which security has been

given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the

year ended 28 February 2014 set out on pages nil to nil and you consider that the company is exempt from an

audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to

assist you to fulfil your statutory responsibilities, from the accounting records and information and

explanations supplied to us.

PJE Chartered Accountants

3 Oakfield Court

Oakfield Road

Clifton

Bristol

BS8 2BD

17 November 2014