Abersoch Property Management Ltd

Registered number

07404779

Unaudited Filleted Accounts

30 April 2017

Abersoch Property Management Ltd
Registered number:		07404779
Balance Sheet
as at 30 April 2017

Notes			2017			2015
£				£
Current assets
Debtors	3	279			5,013
Cash at bank and in hand		28,562			27,238
		28,841			32,251

Creditors: amounts falling due within one year	4	(4,659)			(6,646)

Net current assets			24,182			25,605

Net assets			24,182			25,605

Capital and reserves
Called up share capital			1			1
Profit and loss account			24,181			25,604

Shareholder's funds			24,182			25,605

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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




C A Grant
Director
Approved by the board on 31 January 2018

Abersoch Property Management Ltd
Notes to the Accounts
for the period from 1 November 2015 to 30 April 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). This is the first year in which the financial statements have been prepared under FRS 102. The transistion from preparing the financial statements in accordance with FRSSE (2015) to FRS 102 (1a) has had no material impact on either the financial position or the financial performance as previously reported by the company.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2017		2015
Number			Number

	Average number of persons employed by the company	1		1


3	Debtors	2017		2015
£			£

	Trade debtors	-		5,013
	Other debtors	279		-
		279		5,013


4	Creditors: amounts falling due within one year	2017		2015
£			£

	Taxation and social security costs	3,009		3,589
	Other creditors	1,650		3,057
		4,659		6,646


5	Other information

	Abersoch Property Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Crows Nest Business Park
	Ashton Road
	Billinge
	Wigan
	WN5 7XX