Goldrock Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03318494 (England and Wales)

GOLDROCK PROPERTIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MAY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

S Palitsyne

A R Sager

A Palitsyn

SECRETARY:

A R Sager

REGISTERED OFFICE:

12 North End Parade

London

W14 0SJ

REGISTERED NUMBER:

03318494 (England and Wales)

FIXED ASSETS

Intangible assets

2

91,250

109,500

Tangible assets

3

-

1,323

91,250

110,823

CURRENT ASSETS

Stocks

-

10,000

Debtors

7,406

30,642

Cash at bank and in hand

43

21,695

7,449

62,337

CREDITORS

Amounts falling due within one year

143,159

181,854

NET CURRENT LIABILITIES

(135,710

)

(119,517

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(44,460

)

(8,694

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(44,462

)

(8,696

)

SHAREHOLDERS' FUNDS

(44,460

)

(8,694

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26th February 2015 and were signed on its behalf by:

A R Sager - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2000, is being amortised

evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33.33% straight line on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a money purchase (defined contribution) pension scheme. Contributions payable to this

scheme are charged to the profit and loss account in the period to which they relate. These contributions are

invested separately from the company's assets.

Going concern

The financial statements have been prepared on the going concern basis. The company is reliant on the continued

support of the company's directors and creditors. If this support was withdrawn the company would be unable to

continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of

assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is

unable to quantify the effect of such adjustments on the financial statements. The directors believe that it is

appropriate for the financial statements to be prepared on the going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

and 31st May 2014

365,000

AMORTISATION

At 1st June 2013

255,500

Amortisation for year

18,250

At 31st May 2014

273,750

NET BOOK VALUE

At 31st May 2014

91,250

At 31st May 2013

109,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

7,435

Disposals

(7,435

)

At 31st May 2014

-

DEPRECIATION

At 1st June 2013

6,112

Eliminated on disposal

(6,112

)

At 31st May 2014

-

NET BOOK VALUE

At 31st May 2014

-

At 31st May 2013

1,323

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary shares

£1

2

2