Abbreviated Company Accounts - 1ST POLICY LOND LIMITED

Abbreviated Company Accounts - 1ST POLICY LOND LIMITED


Registered Number 07086128

1ST POLICY LOND LIMITED

Abbreviated Accounts

30 November 2015

1ST POLICY LOND LIMITED Registered Number 07086128

Abbreviated Balance Sheet as at 30 November 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 776 1,551
776 1,551
Current assets
Stocks 706,660 600,907
Debtors 595,234 458,984
Cash at bank and in hand 579,370 752,908
1,881,264 1,812,799
Creditors: amounts falling due within one year (91,498) (569,366)
Net current assets (liabilities) 1,789,766 1,243,433
Total assets less current liabilities 1,790,542 1,244,984
Total net assets (liabilities) 1,790,542 1,244,984
Capital and reserves
Called up share capital 3 970,000 550,000
Profit and loss account 820,542 694,984
Shareholders' funds 1,790,542 1,244,984
  • For the year ending 30 November 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 12 August 2016

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 2015

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 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 2014 3,101
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2015 3,101
Depreciation
At 1 December 2014 1,550
Charge for the year 775
On disposals -
At 30 November 2015 2,325
Net book values
At 30 November 2015 776
At 30 November 2014 1,551
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
970,000Ordinary shares of £1 each (550,000 shares for 2014) 970,000 550,000

During the year 420,000 ordinary shares of £ 1 each were allotted and fully paid at par for cash
consideration to provide additional working capital