PROPERTY MANAGEMENT WALES LI - Accounts 2014


Registered number: 04501666






Property Management Wales Limited


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014
























Prepared By:
Pritchard & Co
Chartered Certified Accountants
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


Property Management Wales Limited


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31 March 2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 04501666


Registered Number: 04501666

BALANCE SHEET AT 31 MARCH 2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Tangible assets	2		102,193		112,670

CURRENT ASSETS
Cash at bank and in hand		2,508		29,796
		2,508		29,796
CREDITORS: Amounts falling due within one year		22,121		26,532
NET CURRENT (LIABILITIES) / ASSETS			(19,613)		3,264
TOTAL ASSETS LESS CURRENT LIABILITIES			82,580		115,934


CREDITORS: Amounts falling due after more than one year	3		29,747		70,608

NET ASSETS			52,833		45,326

CAPITAL AND RESERVES

Called up share capital	4		1		1
Profit and loss account			52,832		45,325
SHAREHOLDERS' FUNDS			52,833		45,326

For the year ending 31 March 2014 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 15 August 2014 and signed on their behalf by




Mr S M Ashton
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Long Leasehold Properties		straight line 5%
Fixtures and Fittings		straight line 10%




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




3. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2014	2013
	£	£
Bank loans and overdrafts	29,747	70,608
	29,747	70,608




4. SHARE CAPITAL	2014	2013
	£	£
Allotted, issued and fully paid:
1 Ordinary shares of £1.00 each	1	1
	1	1




5. CONTROLLING PARTY
The company is controlled by Mr S Ashton by virtue of his 100% shareholding.