01 Property Investment Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06291865 (England and Wales)

01 Property Investment Ltd

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Lower

Mrs G E Lower

SECRETARY:

M G Lower

REGISTERED OFFICE:

The Old Factory

30-31 Devonshire Place

Brighton

East Sussex

BN2 1QB

REGISTERED NUMBER:

06291865 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Tangible assets

2

6,107,473

3,855,825

CURRENT ASSETS

Debtors

1,930

2,036

Cash at bank and in hand

6,507

3,084

8,437

5,120

CREDITORS

Amounts falling due within one year

1,704,816

909,155

NET CURRENT LIABILITIES

(1,696,379

)

(904,035

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,411,094

2,951,790

CREDITORS

Amounts falling due after more than one year

3

(2,355,478

)

(1,688,959

)

PROVISIONS FOR LIABILITIES

(4,564

)

(7,070

)

NET ASSETS

2,051,052

1,255,761

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

1,538,240

873,557

Profit and loss account

512,810

382,202

SHAREHOLDERS' FUNDS

2,051,052

1,255,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 24 March 2015 and were signed on its behalf by:

M G Lower - 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).

Turnover

Turnover represents rents receivable and associated charges made to tenants, 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.

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Deferred tax

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

sheet date.

Investment properties

All the companies properties are investment properties and in accordance with Statement of Standard Accounting

Practice No. 19 investment properties are not depreciated. These properties are shown on the balance sheet at

their open market value and the difference between this and cost is transferred to the revaluation reserve.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2013

3,873,355

Additions

1,700,706

Disposals

(156,100

)

Revaluations

717,202

At 30 June 2014

6,135,163

DEPRECIATION

At 1 July 2013

17,530

Charge for year

14,933

Eliminated on disposal

(4,773

)

At 30 June 2014

27,690

NET BOOK VALUE

At 30 June 2014

6,107,473

At 30 June 2013

3,855,825

3.

CREDITORS

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

30.6.14

30.6.13

£

£

Repayable by instalments

1,807,202

1,352,611

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

1

Ordinary

£1

2

2

5.	ULTIMATE PARENT COMPANY

01 Property Group Limited is the ultimate parent company.