GILLVALLEY_LIMITED - Accounts

The directors present their report and financial statements for the year ended 30 June 2014.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gillvalley Limited for the year ended 30 June 2014 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Gillvalley Limited, as a body, in accordance with the terms of our engagement letter dated 26 July 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Gillvalley Limited and state those matters that we have agreed to state to the Board of Directors of Gillvalley Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gillvalley Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Gillvalley Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gillvalley Limited. You consider that Gillvalley Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gillvalley Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Debtors: amounts falling due within one year

Debtors: amounts falling due after more than one year

Directors' responsibilities:

Approved by the Board for issue on 29 March 2015

Fixed asset investments are stated at cost less provision for diminution in value.

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006  not to prepare group accounts.

The company has estimated losses of £ 3,422 (2013 - £ 3,422) available for carry forward against future trading profits.

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Debtors include an amount of £417,417 (2013 - £454,264) which is due after more than one year.

The amount due after more than one year is linked to the repayment term of the bank loan that the company refinanced on behalf of its subsidiary, A Smith (Southwark) Limited.

The loan is an interest only loan repayable in 2019 and is secured by a cross guarantee over the land & buildings of the group. The interest rate payable on the loan is 4.1% over bank base rate with a minimum rate of 5%.

There is no ultimate controlling party.

The following directors had interest free loans during the year. The movement on these loans are as follows:

The following directors had interest free loans during the year. The movement on these loans are as follows:

The following directors were paid dividends during the year as outlined in the table below: