Glen Chess Guernsey Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04809030 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014

FOR

GLEN CHESS GUERNSEY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J S Lane

SECRETARY:

J S Lane

REGISTERED OFFICE:

c/o J.S.Lane & Co

The Red House

High Street

Bushey

Hertfordshire

WD23 3HE

REGISTERED NUMBER:

04809030 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Tangible assets

2

354,348

354,348

CURRENT ASSETS

Debtors

7,612

2,156

Cash at bank

-

11

7,612

2,167

CREDITORS

Amounts falling due within one year

254,769

240,987

NET CURRENT LIABILITIES

(247,157

)

(238,820

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,191

115,528

CREDITORS

Amounts falling due after more than one year

3

147,831

164,012

NET LIABILITIES

(40,640

)

(48,484

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(40,740

)

(48,584

)

SHAREHOLDERS' FUNDS

(40,640

)

(48,484

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27 March 2015 and were signed by:

J S Lane - 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 rents received.

Tangible fixed assets

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

Land and buildings

-

No Depreciation

Deferred tax

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

sheet date.

Going concern

Where current liabilities exceed current assets the director considers the ability of the company to continue to

meet its liabilities from liquid assets as and when the liabilities fall due. The director also considers the support

given to the company by its creditors. If the director is satisfied that the company can meet its liabilities as and

when they fall due and the company has sufficient support from its creditors, the accounts are prepared on a

going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

354,348

NET BOOK VALUE

At 30 June 2014

354,348

At 30 June 2013

354,348

3.

CREDITORS

Creditors include an amount of £ 147,831 (30.6.13 - £ 164,012 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.6.14

30.6.13

£

£

Repayable by instalments

147,831

164,012

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

100

Ordinary

1.00

100

100

5.	GOING CONCERN

Current liabilities exceed current assets at the balance sheet date. The director considers, however, that the

company has sufficient liquid assets to meet its liabilities as and when they fall due, and that the company has

sufficient support from its creditors. In particular the director, who are the principal creditors of the company,

have given assurances that they will not seek repayment of the balances on their loan accounts until such time as

the company has sufficient liquid assets to make payment. Accordingly the director considers that it is

appropriate to prepare the accounts on a going concern basis.