Abbreviated Company Accounts - 1ST POLICY LOND LIMITED

Abbreviated Company Accounts - 1ST POLICY LOND LIMITED

Registered Number 07086128


Abbreviated Accounts

30 November 2016

1ST POLICY LOND LIMITED Registered Number 07086128

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 - 776
- 776
Current assets
Stocks 700,926 706,660
Debtors 656,484 595,234
Cash at bank and in hand 636,633 579,370
1,994,043 1,881,264
Creditors: amounts falling due within one year (98,970) (91,498)
Net current assets (liabilities) 1,895,073 1,789,766
Total assets less current liabilities 1,895,073 1,790,542
Total net assets (liabilities) 1,895,073 1,790,542
Capital and reserves
Called up share capital 970,000 970,000
Profit and loss account 925,073 820,542
Shareholders' funds 1,895,073 1,790,542
  • For the year ending 30 November 2016 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 22 August 2017

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 2016

1Accounting Policies

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

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
At 1 December 2015 3,101
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2016 3,101
At 1 December 2015 2,325
Charge for the year 776
On disposals -
At 30 November 2016 3,101
Net book values
At 30 November 2016 0
At 30 November 2015 776