Gotim 7 Limited - Accounts to registrar (filleted) - small 18.2
Gotim 7 Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2019 |
| for |
| Gotim 7 Limited |
| Gotim 7 Limited (Registered number: 07285535) |
| Contents of the Financial Statements |
| for the year ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Gotim 7 Limited |
| Company Information |
| for the year ended 30 June 2019 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| Unit 2 Foley Works |
| Foley Industrial Estate |
| Hereford |
| Herefordshire |
| HR1 2SF |
| Gotim 7 Limited (Registered number: 07285535) |
| Balance Sheet |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve | 6 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements |
| for the year ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Gotim 7 Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investment property |
| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised |
| at cost, which included the purchase cost and any directly attributable expenditure. Subsequently it is measured |
| at fair value at the reporting date. The surplus deficit on revaluation is recognised in the profit and loss account. |
| Movement in fair values are transferred to a revaluation reserve until they become realised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| 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. |
| Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax |
| purposes, the resulting current or deferred tax expense or income is presented in the same component of |
| comprehensive income or equity as the transaction or other even that has resulted in the tax expense or income. |
| Going concern |
| The company has financial support from its ultimate parent undertaking and continues to have this support for |
| the foreseeable future. As a consequence the directors have a reasonable expectation that the company had |
| adequate financial resources and as such have adopted the going concern basis for the preparation of the annual |
| report and accounts. |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2019 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1 July 2018 |
| Revaluations | 728,920 |
| At 30 June 2019 |
| Net book value |
| At 30 June 2019 |
| At 30 June 2018 |
| Fair value at 30 June 2019 is represented by: |
| £ |
| Valuation in 2011 | 20,015 |
| Valuation in 2014 | 27,000 |
| Valuation in 2015 | (36,772 | ) |
| Valuation in 2016 | 656,080 |
| Valuation in 2017 | 534,372 |
| Valuation in 2019 | 728,920 |
| Cost | 6,080,385 |
| 8,010,000 |
| The investment properties were measured at their value by Allsop LLP, an external UK property consultancy, on |
| 13th September 2019. Fair value is determined by reference to current market conditions. |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed to group undertakings |
| As at the year end the parent company owed an amount of £26,928,682 (2018:£26,082,036) to the ultimate |
| parent company which was in part secured on the properties owned by Gotim 7 Limited. The properties held in |
| Gotim 7 Limited form part of an unlimited multilateral guarantee dated 25 April 2016 in favour of the parent |
| company. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2019 |
| 6. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2018 | 1,058,714 |
| Profit for the year |
| Property revaluation transfer | (664,869 | ) | 664,869 | - |
| At 30 June 2019 | 1,723,583 |
| The revaluation reserve includes all fair value gains/(losses) recognised on investment properties, net of deferred |
| tax. |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |