ACCOUNTS - Final Accounts

ANGLIA IMPORTS LTD - Company Information

Registered number:

02861374

ANGLIA IMPORTS LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019


GUM LEAF LIMITED REGISTERED NUMBER:02861374

BALANCE SHEET

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£


Fixed assets			-		100
Current assets		26,672		18,059
Creditors: amounts falling due within one year	7	(17,185)		(17,323)
Net current assets			9,487		736
Total assets less current liabilities			9,487		836

Net assets			9,487		836


Capital and reserves	9,487	836

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GUM LEAF LIMITED REGISTERED NUMBER:02861374

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2019

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

A J Paterson

Director

Date: 25 August 2020

The notes on pages 3 to 5 form part of these financial statements.

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GUM LEAF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

Anglia Imports Ltd is a private company limited by shares and incorporated in England and Wales, registration number 02861374. The registered office is Hall Farm, Dilham, North Walsham, Norfolk, NR28 9PN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial ststements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

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GUM LEAF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2019	100
	At 31 December 2019	100
	Impairment
	Impairment on disposals	100
	At 31 December 2019	100
	Net book value
	At 31 December 2019	-
	At 31 December 2018	100

Debtors

					2019	2018
					£	£


Amounts owed by group undertakings	-	15,493
	-	15,493

6.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	26,672	2,566
	26,672	2,566

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GUM LEAF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

7.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Other creditors	16,885	16,885
Accruals and deferred income	300	438
	17,185	17,323

Related party transactions

At the year end, the company was owed £Nil (2018: £15,493) from its wholly owned subsidiary, Gumleaf (UK) Limited.
The director, A J Paterson, has a loan account with the company. At the year end, the company owed A J Paterson £10,000 (2018: £10,000).
The company also holds a loan account with John Paterson (Dilham) Limited, a company in which A J Paterson is a director. At the year end, the company owed John Paterson (Dilham) Limited £6,885 (2018: £6,885).

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