| Glansevern Properties Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Glansevern Properties Limited for the year ended 31 March 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Glansevern Properties Limited for the year ended 31 March 2015 which comprise of the balance sheet and the related notes 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. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Pugh Clarke & Co |
| Chartered Accountants |
| 17 Slade End |
| Theydon Bois |
| Epping |
| Essex |
| CM16 7EP |
|
| 19 June 2015 |
|
| Glansevern Properties Limited |
| Registered number: |
00800115 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
374,915 |
|
|
393,073 |
|
| Current assets |
| Stocks |
|
|
3,094,776 |
|
|
3,072,197 |
| Debtors |
4 |
|
484,419 |
|
|
435,207 |
| Cash at bank and in hand |
|
|
674,813 |
|
|
291,671 |
|
|
|
4,254,008 |
|
|
3,799,075 |
|
| Creditors: amounts falling due within one year |
|
|
(1,279,707) |
|
|
(1,165,615) |
|
| Net current assets |
|
|
|
2,974,301 |
|
|
2,633,460 |
|
| Net assets |
|
|
|
3,349,216 |
|
|
3,026,533 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
100 |
|
|
100 |
| Capital redemption reserve |
|
|
|
361,535 |
|
|
361,535 |
| Profit and loss account |
|
|
|
2,987,581 |
|
|
2,664,898 |
|
| Shareholder's funds |
|
|
|
3,349,216 |
|
|
3,026,533 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| R M Pothecary |
| Director |
| Approved by the board on 19 June 2015 |
|
| Glansevern Properties Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Freehold buildings |
2% straight line |
|
Plant and machinery |
20% straight line |
|
Fixtures and fittings |
10% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
566,374 |
|
At 31 March 2015 |
566,374 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
173,301 |
|
Charge for the year |
18,158 |
|
At 31 March 2015 |
191,459 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
374,915 |
|
At 31 March 2014 |
393,073 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 31 March 2014 |
42,500 |
|
Provision |
(42,500) |
|
|
At 31 March 2015 |
- |
|
|
|
|
|
|
|
| 4 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
Debtors include: |
|
|
Amounts due after more than one year |
200,000 |
|
190,000 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
M J Hall |
|
Loan |
24,500 |
|
25,050 |
|
(45,550) |
|
4,000 |
|
|
|
24,500 |
|
25,050 |
|
(45,550) |
|
4,000 |
|
|
|
|
|
|
|
|
|
