Pro-properties (Uk) Limited - Period Ending 2015-05-31

Registration number: 04004039

Pro-properties (Uk) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Chancery Accounts LLP
  Accountants & Taxation Advisors
  The Old County Police Station
  Newhey Road
  Milnrow
  Rochdale
  Lancashire
  OL16 3PS

Pro-properties (Uk) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pro-properties (Uk) Limited
(Registration number: 04004039)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					900			504
Current assets
Stocks					228,418			228,418
Cash at bank and in hand					1			105
					228,419			228,523
Creditors: Amounts falling due within one year					(56,233)			(43,455)
Net current assets					172,186			185,068
Total assets less current liabilities					173,086			185,572
Creditors: Amounts falling due after more than one year					(242,548)			(249,794)
Net liabilities					(69,462)			(64,222)
Capital and reserves
Called up share capital		4			200			200
Profit and loss account					(69,662)			(64,422)
Shareholders' deficit					(69,462)			(64,222)

For the year ending 31 May 2015 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 16 February 2016 and signed on its behalf by:

.........................................
Mr Michael Leon Hadcroft
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Pro-properties (Uk) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Included in other creditors is the directors current account balance of £37,968. This balance is interest free and repayable on demand.

Page 2

Pro-properties (Uk) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		1,290			1,290
Additions		510			510
At 31 May 2015		1,800			1,800
Depreciation
At 1 June 2014		786			786
Charge for the year		114			114
At 31 May 2015		900			900
Net book value
At 31 May 2015		900			900
At 31 May 2014		504			504

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		170,534			177,780

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		200			200			200			200

Page 3