Abbreviated Company Accounts - 1ST POLICY LOND LIMITED

1ST POLICY LOND LIMITED - Company Information

Registered Number 07086128

1ST POLICY LOND LIMITED

Abbreviated Accounts

30 November 2013

1ST POLICY LOND LIMITED Registered Number 07086128

Abbreviated Balance Sheet as at 30 November 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	2,326	-
		2,326	-
Current assets
Stocks		1,246,868	759,469
Debtors		265,214	186,764
Cash at bank and in hand		143,393	491,389
		1,655,475	1,437,622
Creditors: amounts falling due within one year		(684,694)	(543,125)
Net current assets (liabilities)		970,781	894,497
Total assets less current liabilities		973,107	894,497
Total net assets (liabilities)		973,107	894,497
Capital and reserves
Called up share capital		550,000	550,000
Profit and loss account		423,107	344,497
Shareholders' funds		973,107	894,497

For the year ending 30 November 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 July 2014

And signed on their behalf by:
M B Conn, Director

1ST POLICY LOND LIMITED Registered Number 07086128

Notes to the Abbreviated Accounts for the period ended 30 November 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents total sales of traded endowment policies.

Tangible assets depreciation policy
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:
Fixtures, fittings & equipment - 25% - straight line

Valuation information and policy
Stock
Stock of policies is valued at the lower of cost and net realisable value.
Net realisable value is based on estimated selling price less further cost to completion and disposal.
Where shares have been received or purchased at a discount due to the holding of traded endowment
policies in those companies, such purchases have been treated as stocks of shares and included at the
lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 December 2012	-
Additions	3,101
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2013	3,101
Depreciation
At 1 December 2012	-
Charge for the year	775
On disposals	-
At 30 November 2013	775
Net book values
At 30 November 2013	2,326
At 30 November 2012	-