Goldshield Property Investments Limited,Ltd - AccountsLtd - Accounts

Goldshield Property Investments Limited,Ltd - AccountsLtd - Accounts

GOLDSHIELD PROPERTY INVESTMENTS LIMITED - Company Information

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2017-11-01 05537487 2018-10-31 05537487 2017-11-01 2018-10-31 05537487 uk-bus:RegisteredOffice 2017-11-01 2018-10-31 05537487 uk-bus:Director1 2017-11-01 2018-10-31 05537487 uk-bus:Director1 2018-10-31 05537487 2017-10-31 05537487 2016-11-01 2017-10-31 05537487 uk-core:WithinOneYear 2017-10-31 05537487 uk-core:WithinOneYear 2018-10-31 05537487 uk-core:AfterOneYear 2017-10-31 05537487 uk-core:AfterOneYear 2018-10-31 05537487 uk-core:ShareCapital 2018-10-31 05537487 uk-core:ShareCapital 2017-10-31 05537487 uk-core:RevaluationReserve 2018-10-31 05537487 uk-core:RevaluationReserve 2017-10-31 05537487 uk-core:RetainedEarningsAccumulatedLosses 2018-10-31 05537487 uk-core:RetainedEarningsAccumulatedLosses 2017-10-31 05537487 uk-core:PlantMachinery 2017-11-01 2018-10-31 05537487 uk-core:CostValuation 2017-10-31 05537487 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2017-10-31 05537487 uk-core:DisposalsRepaymentsInvestments 2018-10-31 05537487 uk-core:DisposalsRepaymentsInvestments uk-core:Non-currentFinancialInstruments 2018-10-31 05537487 uk-core:RevaluationsIncreaseDecreaseInInvestments 2018-10-31 05537487 uk-core:RevaluationsIncreaseDecreaseInInvestments uk-core:Non-currentFinancialInstruments 2018-10-31 05537487 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2018-10-31 05537487 uk-core:CostValuation 2018-10-31 05537487 uk-core:Non-currentFinancialInstruments 2018-10-31 05537487 uk-core:Non-currentFinancialInstruments 2017-10-31 05537487 uk-core:WithinOneYear uk-core:Secured 2018-10-31 05537487 uk-core:WithinOneYear uk-core:Secured 2017-10-31 iso4217:GBP 05537487 uk-bus:AuditExemptWithAccountantsReport 2017-11-01 2018-10-31 05537487 uk-bus:FRS102 2017-11-01 2018-10-31 05537487 uk-bus:FullAccounts 2017-11-01 2018-10-31 05537487 uk-bus:PrivateLimitedCompanyLtd 2017-11-01 2018-10-31
Goldshield Property Investments Limited
Registered Number:05537487
For the year ended 31 October 2018
England and Wales
Report of the Director and Unaudited Financial Statements
2
For the year ended 31 October 2018
Goldshield Property Investments Limited
Contents Page
Company Information
1
2
Director's Report
3
Independent Accountant's Report
4
Income Statement
5
Other Comprehensive Income
6
Statement of Financial Position
7
Statement of Changes in Equity
8 to 10
Notes to the Financial Statements
3
For the year ended 31 October 2018
Goldshield Property Investments Limited
Company Information
Ranjit Kaur
Director
Bakshi Singh
Company Secretary
05537487
Registered Number
41 Highwood Gardens
Registered Office
Ilford
Essex
IG5 0AZ
London Accountancy Limited
Accountant
International Accountants
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
HSBC Bank Plc
Bankers
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4
For the year ended 31 October 2018
Goldshield Property Investments Limited
Director's Report
The director presents her report and accounts for the year ended 31 October 2018.
Principal activities
The principal activity of the company continued to be that of investment in properties and letting them out. The company is also engaged in buying and selling of properties.
Director
The director who served the company throughout the year was as follows:
Ranjit Kaur
Ranjit Kaur
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
25 March 2019
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5
For the year ended 31 October 2018
Goldshield Property Investments Limited
Independent Accountant's Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 October 2018 and you consider that the company is exempt from an audit under the Companies
Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
London Accountancy Limited
International Accountants
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
Date:
25 March 2019
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6
For the year ended 31 October 2018
Goldshield Property Investments Limited
Income Statement
2017
£
2018
£
Turnover
220,209
351,611
351,611
Gross profit
220,209
Administrative expenses
956,873
(55,702)
Operating profit
1,177,082
295,909
Interest payable and similar charges
(3,496)
(6,909)
1,173,586
289,000
Profit before taxation
(158,277)
(56,173)
Taxation
1,015,309
Profit for the financial year
232,827
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7
For the year ended 31 October 2018
Goldshield Property Investments Limited
Other Comprehensive Income
2018
2017
£
£
1,015,309
232,827
Profit for the financial year
Total comprehensive income since last annual report
1,015,309
232,827
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8
As at 31 October 2018
Goldshield Property Investments Limited
Statement of Financial Position
Registered Number :
05537487
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
4,234
4,981
2
Financial assets
2,195,000
1,250,000
3
1,254,234
2,199,981
Current assets
Inventories
-
3,152,216
4
Trade and other receivables
30,500
27,000
5
8,652
Cash and cash equivalents
4,733
3,183,949
39,152
Trade and other payables: amounts falling due within one
year
(391,725)
(1,711,676)
6
(352,573)
1,472,273
Net current assets
Total assets less current liabilities
2,726,507
1,847,408
Trade and other payables: amounts falling due after more
than one year
(156,930)
-
7
2,726,507
Net assets
1,690,478
Capital and reserves
Called up share capital
100
100
Revaluation reserve
737,595
716,875
8
Retained earnings
1,988,812
973,503
2,726,507
1,690,478
Shareholders' funds
For the year ended 31 October 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Ranjit Kaur
These financial statements were approved and authorised for issue by the Board on 25 March 2019 and were signed by:
The notes form part of these financial statements
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9
For the year ended 31 October 2018
Goldshield Property Investments Limited
Statement of Changes in Equity
Share capital
Revaluation
reserve
Retained
earnings
Total
£
£
£
£
Balance at 01 November 2016
100
716,875
740,676
1,457,651
-
-
232,827
232,827
Profit for the year
Balance at 31 October 2017 and 01 November
2017
1,690,478
973,503
716,875
100
-
-
1,015,309
1,015,309
Profit for the year
Other comprehensive income for the year
-
20,720
-
20,720
Balance at 31 October 2018
100
737,595
1,988,812
2,726,507
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10
For the year ended 31 October 2018
Goldshield Property Investments Limited
Notes to the Financial Statements
Statutory Information
Goldshield Property Investments Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 05537487.
Principal place of business:
11 Atcost Road
Barking
Essex
IG11 0EQ
Registered address:
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
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11
For the year ended 31 October 2018
Goldshield Property Investments Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Plant and
machinery
£
Cost or
valuation
At 01 November 2017
35,000
At 31 October 2018
35,000
Provision for depreciation and impairment
At 01 November 2017
30,019
Charge for year
747
At 31 October 2018
30,766
At 31 October 2018
Net book value
4,234
At 31 October 2017
4,981
3. Investments held as fixed assets
Other investments
Total
At 01 November 2017
1,478,125
1,478,125
Cost
£
£
Disposals/Repayments
(965,720)
(965,720)
737,595
737,595
Revaluations
At 31 October 2018
1,250,000
1,250,000
At 31 October 2018
Net book value
1,250,000
1,250,000
At 01 November 2017
1,478,125
1,478,125
4. Inventories
2017
2018
£
£
Stocks
3,152,216
-
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12
For the year ended 31 October 2018
Goldshield Property Investments Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2017
2018
£
£
Other debtors
27,000
30,500
6. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Bank loans and overdraft (secured)
897,395
50,181
Trade creditors
160,097
150,000
Taxation and social security
196,959
76,474
Other creditors
457,225
115,070
1,711,676
391,725
7. Trade and other payables: amounts falling due after more than one year
2017
2018
£
£
Bank loans and overdraft (secured)
-
156,930
8. Reserves
Total
£
Revaluation reserve at 01 November 2017
716,875
Revaluation of fixed assets
20,720
737,595
Revaluation reserve at 31 October 2018
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