Glidelaunch Limited - Accounts to registrar (filleted) - small 18.2
Glidelaunch Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| FOR |
| GLIDELAUNCH LIMITED |
| GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| GLIDELAUNCH LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 28 Southway |
| Carshalton Beeches |
| Surrey |
| SM5 4HW |
| GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411) |
| BALANCE SHEET |
| 31 MARCH 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Capital reserve | 8 |
| Fair value reserve | 8 |
| Retained earnings | 8 |
| 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. |
| 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 by: |
| GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 1. | STATUTORY INFORMATION |
| Glidelaunch 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 rent receivable during the year calculated on the basis that the tenant bears the costs of |
| ground rent and service charges. |
| 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. |
| Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| 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 |
| Interest |
| in other |
| participating |
| interests |
| £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 | 1 |
| NET BOOK VALUE |
| At 31 March 2019 | 1 |
| At 31 March 2018 | 1 |
| Share in property management company. |
| GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2018 |
| and 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| Fair value at 31 March 2019 is represented by: |
| £ |
| Valuation in 2003 | (37,704 | ) |
| Valuation in 2006 | 20,000 |
| Valuation in 2016 | 20,000 |
| Valuation in 2018 | 65,000 |
| Cost | 97,704 |
| 165,000 |
| The director, Mr M R Conrathe, has assessed the value of the company's investment property to be £165,000 on |
| the basis of there being a lifetime sitting tenant who meets the cost of council tax, water and management |
| charges including insurance. If the property was to be sold at this value a tax liability of £497 (2017: £Nil) would |
| arise. Mr Conrathe does not consider the cost of a professional valuation to be justified. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 6. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 497 | 497 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2018 |
| Balance at 31 March 2019 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 8. | RESERVES |
| Fair |
| Retained | Capital | value |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 April 2018 | 179,568 |
| Profit for the year | - | - |
| At 31 March 2019 | 182,758 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |