G.V. Investments & Lettings Ltd - Period Ending 2014-09-30

Registration number: 06238811

G.V. Investments & Lettings Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

G.V. Investments & Lettings Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

G.V. Investments & Lettings Ltd
(Registration number: 06238811)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					165,000			1,100,000
Current assets
Debtors					18,500			22,414
Cash at bank and in hand					159			996
					18,659			23,410
Creditors: Amounts falling due within one year					(344,944)			(1,218,112)
Net current liabilities					(326,285)			(1,194,702)
Net liabilities					(161,285)			(94,702)
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					553			50,068
Profit and loss account					(161,938)			(144,870)
Shareholders' deficit					(161,285)			(94,702)

For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 29 June 2015 and signed on its behalf by:

.........................................
V Vasiliou
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

G.V. Investments & Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 rental income received.

Depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off teh cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Asset class	Depreciation method and rate
Investement Properties	Not depreciated

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: (i) No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. (ii) No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

G.V. Investments & Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		1,100,000			1,100,000
Revaluations		5,000			5,000
Disposals		(940,000)			(940,000)
At 30 September 2014		165,000			165,000
Depreciation
At 30 September 2014		-			-
Net book value
At 30 September 2014		165,000			165,000
At 30 September 2013		1,100,000			1,100,000

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3