Political Developments Limited - Abbreviated accounts

POLITICAL DEVELOPMENTS LTD - Company Information

Registered number

06533783

Political Developments Limited

Unaudited Abbreviated Accounts

31 March 2015

Political Developments Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Political Developments Limited for the year ended 31 March 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Political Developments Limited for the year ended 31 March 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Political Developments Limited, as a body, in accordance with the terms of our engagement letter dated 13 June 2009. Our work has been undertaken solely to prepare for your approval the accounts of Political Developments Limited and state those matters that we have agreed to state to the Board of Directors of Political Developments Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Political Developments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Political Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Political Developments Limited. You consider that Political Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Political Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.

Slaney & Co.
Chartered Accountants
Portland House
3 Queen Street
Worksop
Notts
S80 2AW

25 February 2016

Political Developments Limited
Registered number:		06533783
Abbreviated Balance Sheet
as at 31 March 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		699			2,129

Current assets
Debtors		259,864			224,612
Cash at bank and in hand		614			25,712
		260,478			250,324

Creditors: amounts falling due within one year		(212,318)			(163,429)

Net current assets			48,160			86,895

Total assets less current liabilities			48,859			89,024


Provisions for liabilities			(140)			(426)


Net assets			48,719			88,598

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			48,619			88,498

Shareholder's funds			48,719			88,598

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



J A S Handel
Director
Approved by the board on 25 February 2016

Political Developments Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

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

	Plant and machinery			33.33 % straight line


	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 April 2014					16,808
	Additions					516
	At 31 March 2015					17,324

	Depreciation
	At 1 April 2014					14,679
	Charge for the year					1,946
	At 31 March 2015					16,625

	Net book value
	At 31 March 2015					699
	At 31 March 2014					2,129


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


4	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	J A S Handel
	Loan to director	152,741		218,330		(177,980)		193,091
	Interest payable to the company on the above loan	-		6,468		-		6,468

		152,741		224,798		(177,980)		199,559

	The above loan is included within Other Debtors and is unsecured and repayable on demand. Interest at 4% pa is payable to the company on this loan.