PENNON_PROPERTIES_LIMITED - Accounts

PENNON PROPERTIES LIMITED - Company Information

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Company Registration No. 03496680 (England and Wales)

PENNON PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2014

PENNON PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

PENNON PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,406,348

1,508,891

Current assets

Debtors

31,402

53,877

Cash at bank and in hand

7,799

160,275

39,201

214,152

Creditors: amounts falling due within one year

(897,726)

(778,351)

Net current liabilities

(858,525)

(564,199)

Total assets less current liabilities

1,547,823

944,692

Creditors: amounts falling due after more than one year

(538,751)

1,009,072

944,692

Capital and reserves

Called up share capital

Profit and loss account

1,009,070

944,690

Shareholders' funds

1,009,072

944,692

For the financial year ended 31 January 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 15 August 2014

Mr M Singh

Director

Company Registration No. 03496680

PENNON PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents the amount derived from rental income received.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer Equipment

25% Reduced Balance

No depreciation is provided in respect of investment properties.

1.4

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

Fixed assets

Tangible assets

Cost

At 1 February 2013

1,509,903

Additions

897,524

At 31 January 2014

2,407,427

Depreciation

At 1 February 2013

1,012

Charge for the year

At 31 January 2014

1,079

Net book value

At 31 January 2014

2,406,348

At 31 January 2013

1,508,891

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary shares of £1 each