Abbreviated Company Accounts - GOULD TOWERS LIMITED

GOULD TOWERS LIMITED - Company Information

07242516 GOULD TOWERS LIMITED 2013-06-30 false 2012-07-01 2013-06-30 true 07242516 2012-07-01 2013-06-30 07242516 2013-06-30 07242516 2012-06-30 07242516 uk-gaap-cd-bus:Director1 2012-07-01 2013-06-30 07242516 uk-gaap-cd-bus:Director2 2012-07-01 2013-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2012-07-01 2013-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2012-06-30 uk-gaap-cd-bus:PreferenceShareClass1 2012-07-01 2013-06-30 uk-gaap-cd-bus:PreferenceShareClass1 2013-06-30 uk-gaap-cd-bus:PreferenceShareClass1 2012-06-30 uk-gaap-cd-bus:PreferenceShareClass2 2012-07-01 2013-06-30 uk-gaap-cd-bus:PreferenceShareClass2 2013-06-30 uk-gaap-cd-bus:PreferenceShareClass2 2012-06-30 iso4217:GBP shares

Registered Number 07242516

GOULD TOWERS LIMITED

Abbreviated Accounts

30 June 2013

GOULD TOWERS LIMITED Registered Number 07242516

Abbreviated Balance Sheet as at 30 June 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	650,000	650,000
		650,000	650,000
Current assets
Debtors		14,800	13,976
Cash at bank and in hand		8,456	3,820
		23,256	17,796
Creditors: amounts falling due within one year		(55,076)	(65,922)
Net current assets (liabilities)		(31,820)	(48,126)
Total assets less current liabilities		618,180	601,874
Creditors: amounts falling due after more than one year		(314,908)	(314,908)
Total net assets (liabilities)		303,272	286,966
Capital and reserves
Called up share capital	3	262,839	262,839
Revaluation reserve		120,781	120,781
Profit and loss account		(80,348)	(96,654)
Shareholders' funds		303,272	286,966

For the year ending 30 June 2013 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 4 August 2014

And signed on their behalf by:
Mr M Gould, Director

GOULD TOWERS LIMITED Registered Number 07242516

Notes to the Abbreviated Accounts for the period ended 30 June 2013

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Investment properties are included in the balance sheet at their open market value.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is the only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Freehold buildings are depreciated to write down the cost less estimated residual value over their remaining useful life by equal annual investments. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not material.

2Tangible fixed assets

	£
Cost
At 1 July 2012	650,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2013	650,000
Depreciation
At 1 July 2012	-
Charge for the year	-
On disposals	-
At 30 June 2013	-
Net book values
At 30 June 2013	650,000
At 30 June 2012	650,000

The valuations of investment properties were made as at 30 June 2012 by Mr M Gould, a director of the company. The valuations were made on an open market basis and calculated based on rentals achieved. These valuations have been reconsidered by the director as at 30 June 2013 and based on current rental yields, the value is not materiality different to the amount currently stated in the accounts. No depreciation is provided in respect of these properties.

On a historical cost basis these would have been included at an original cost of £885,310 (2012 £885,310).

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
100 Ordinary shares of £1 each	100	100
262,738 Preference A shares of £1 each	262,738	262,738
1 Preference B shares of £1 each	1	1