Glebe Road Limited - Accounts to registrar (filleted) - small 18.2
Glebe Road Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2019 |
| for |
| Glebe Road Limited |
| Glebe Road Limited (Registered number: 03384675) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Glebe Road Limited |
| Company Information |
| for the Year Ended 30 June 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Technology Park |
| Colindeep Lane |
| Colindale |
| London |
| NW9 6BX |
| Glebe Road Limited (Registered number: 03384675) |
| Statement of Financial Position |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| 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 | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Glebe Road Limited (Registered number: 03384675) |
| Statement of Financial Position - continued |
| 30 June 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Glebe Road Limited (Registered number: 03384675) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Glebe Road Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable, excluding value added tax. Rental income is recognised on a calendar |
| basis. |
| Investment property |
| Investment properties are initially measured at cost, including transaction costs. Subsequently, investment |
| properties whose fair value can be measured reliably without undue cost or effort on an on-going basis, are |
| measured at fair value. Gains or losses arising from changes in the fair value of investment properties are |
| included in the Income Statement, in the period in which they arise. |
| Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going |
| basis, are included other fixed assets at cost less accumulated depreciation and accumulated impairment losses. |
| Financial instruments |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Creditors |
| Short term creditors are measured at transaction price. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Glebe Road Limited (Registered number: 03384675) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2018 |
| and 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 2002 | 577,553 |
| Valuation in 2006 | 800,000 |
| Valuation in 2012 | 200,000 |
| Valuation in 2013 | 500,000 |
| Valuation in 2014 | 900,000 |
| Valuation in 2016 | 841,270 |
| Valuation in 2017 | 1,774,112 |
| Valuation in 2018 | 250,000 |
| Cost | 1,003,435 |
| 6,846,370 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2019 | 2018 |
| £ | £ |
| Cost | 1,003,435 | 1,003,435 |
| Investment property was valued on an open market basis on 30 June 2019 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Amounts owed by related company | 1,154,413 | 1,184,413 |
| Prepayments |
| Glebe Road Limited (Registered number: 03384675) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Amounts owed to related company | 85,161 | 125,161 |
| Directors' current accounts | 990 | 22,661 |
| Accruals and deferred rent |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans due within one to two years |
| Bank loans due within two to five years |
| Bank loans due after more than five years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due after more than five years | 968,625 | 1,074,366 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| The bank loans are secured by fixed charges over the fixed asset investment property, dated 4 May 2016 and 11 |
| May 2016. |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 July 2018 |
| and 30 June 2019 |
| Amounts included within the fair value reserve are not distributable. |
| 10. | RELATED PARTY DISCLOSURES |
| Amounts owed by and to related companies are loans to and from companies in which the directors have material |
| interest or significant control. These amounts are interest free and repayable on demand. |