Company Registration No. 08368436 (England and Wales)
PROGREEN (PROPERTIES) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
PROGREEN (PROPERTIES) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PROGREEN (PROPERTIES) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,092
4,100
Current assets
Debtors
157,389
135,722
Cash at bank and in hand
3,169
22,529
160,558
158,251
Creditors: amounts falling due within one year
(183,042)
(178,606)
Net current liabilities
(22,484)
(20,355)
Total assets less current liabilities
(18,392)
(16,255)
Capital and reserves
Called up share capital
3
(100)
(100)
Profit and loss account
(18,292)
(16,155)
Shareholders' funds
(18,392)
(16,255)
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 October 2016
Mr J J Taylor
Director
Company Registration No. 08368436
PROGREEN (PROPERTIES) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
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:
Plant and machinery
25% straight line
Office Equipment
30% straight line
Motor vehicles
25% Reducing balance
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015
4,726
Additions
1,557
At 31 January 2016
6,283
Depreciation
At 1 February 2015
626
Charge for the year
1,565
At 31 January 2016
2,191
Net book value
At 31 January 2016
4,092
At 31 January 2015
4,100
PROGREEN (PROPERTIES) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50 Ordinary A shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
100
100