Gough Square Investments Limited - Accounts to registrar (filleted) - small 18.2
Gough Square Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| FOR |
| GOUGH SQUARE INVESTMENTS LIMITED |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GOUGH SQUARE INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Oliver House |
| 23 Windmill Hill |
| Enfield |
| EN2 7AB |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| BALANCE SHEET |
| 31 JULY 2018 |
| 31.7.18 | 31.7.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| BALANCE SHEET - continued |
| 31 JULY 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 1. | STATUTORY INFORMATION |
| Gough Square Investments Limited is a |
| The company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency is £ sterling. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| 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. |
| 3. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 August 2017 |
| Additions |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2017 |
| and 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| The freehold properties are shown at market value at the balance sheet date determined by the director, RA |
| Sharp. The cost of the freehold investment properties was £1,202,191 (2017: £1,202,191). |
| Fair value at 31 July 2018 is represented by: |
| £ |
| Valuation in 2017 | 480,000 |
| Cost | 3,026,000 |
| 3,506,000 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Bank loans |
| GOUGH SQUARE INVESTMENTS LIMITED (REGISTERED NUMBER: 03255378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Secured bank loans | 2,480,000 | 2,560,000 |
| The bank loan totalling £2,480,000 at 31.7.2018 (2017: £2,520,000) is secured by mortgage charges on all of the |
| company's freehold investment properties. |
| The bank loan is repayable partially over the period to 28.11.2019 when the balance of £2,430,000 is due for |
| repayment. Interest on the bank loan is at 4.31% pa fixed until 28.11.2019. Part of the bank loan was used to |
| clear the existing bank loan of the holding company, and £45,500 (2017: £46,135) of interest has been |
| apportioned and recharged to the holding company in the year end. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 July 2018 and |
| 31 July 2017: |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 10. | RELATED PARTY DISCLOSURES |
| The director R A Sharp occupies part of one of the investment properties and the company charged rent of |
| £5,000 for the year (2017: £5,000) |
| 11. | HOLDING COMPANY |
| The company is wholly owned subsidiary of Realtreat Limited, a company incorporated in England. |