Gold Shield Trustees Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05425789 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 5 April 2015

for

Gold Shield Trustees Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Brock

R Clark

SECRETARY:

R Clark

REGISTERED OFFICE:

3 Lloyd's Avenue

London

EC3N 3DS

REGISTERED NUMBER:

05425789 (England and Wales)

ACCOUNTANTS:

Kelly Accounting Limited

Chartered Accountants

42 Comrie Street

Crieff

Perthshire

PH7 4AX

FIXED ASSETS

Tangible assets

2

-

-

Investments

3

280,000

280,000

280,000

280,000

CURRENT ASSETS

Debtors

4

231,592

212,790

Cash at bank

76,603

121,734

308,195

334,524

CREDITORS

Amounts falling due within one year

170,163

219,313

NET CURRENT ASSETS

138,032

115,211

TOTAL ASSETS LESS CURRENT LIABILITIES

418,032

395,211

CREDITORS

Amounts falling due after more than one year

483,726

494,676

NET LIABILITIES

(65,694

)

(99,465

)

RESERVES

Income and expenditure account

(65,694

)

(99,465

)

(65,694

)

(99,465

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 August 2015 and were signed on its behalf by:

R Clark - Director

D Brock - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date, the company had a deficiency of assets over liabilities of £64,694 (2014:

£99,465). The directors consider the deficit to be temporary and that the company will be able to meet

its liabilities as they fall due for the foreseeable future.

On this basis the directors consider it appropriate to prepare the financial statements on the going

concern basis. The financial statements do not include any adjustments that would result if the

accounts were not prepared on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The company provides extended warranties. The warranties extend over a number of years, primarily

10, and revenue is recognised over the period during which the warranty is to be provided having made

an initial allowance for work incurred at the inception of the agreement.

On other consultancy contracts revenue is recognised when the company obtains the right to

consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

at varying rates on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 6 April 2014

and 5 April 2015

1,627

DEPRECIATION

At 6 April 2014

and 5 April 2015

1,627

NET BOOK VALUE

At 5 April 2015

-

At 5 April 2014

-

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 6 April 2014

and 5 April 2015

280,000

NET BOOK VALUE

At 5 April 2015

280,000

At 5 April 2014

280,000

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 98,014 (5.4.14 - £ 105,802 )

5.	ULTIMATE PARENT COMPANY

Warranty Logistics Management Limited is regarded by the directors as being the company's ultimate

parent company.

6.	MEMBERSHIP

The company is limited by guarantee, having no share capital. Each member's liability is limited to £1.

On 25 January 2011, the company created a new class of ordinary member by a change to the articles

of association by special resolution. Existing members at that date were reclassified as 'Existing

members'. New ordinary members have all the voting rights and the right to appoint and remove

directors, but have the same guarantee level of £1 as existing members.

Warranty Logistics Management Limited became the sole ordinary member on 25 January 2011.