G.M.P._(BIRMINGHAM)_LIMIT - Accounts
G.M.P._(BIRMINGHAM)_LIMIT - Accounts
Company Registration No. 03113138 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(94,858 )
(66,881 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(200,000 )
(300,000 )
Capital and reserves
Called up share capital
3
Revaluation reserve
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
- 2 -
Director's responsibilities:
-
-
Approved by the Board and authorised for issue on 10 September 2015
Director
Company Registration No. 03113138
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Furniture & fittings
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for investment properties, 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 director compliance with the standard is 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 of this which might otherwise have been charged cannot be separately identified or quantified.
Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for investment properties, 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 director compliance with the standard is 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 of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 January 2014 & at 31 December 2014
482,100
909,374
Depreciation
At 1 January 2014
-
2,973
Charge for the year
-
270
At 31 December 2014
-
3,243
Net book value
At 31 December 2014
906,131
At 31 December 2013
906,401
Fixed asset investments represents 482,100 redeemable ordinary £1 preference shares in I-Property (Birmingham) Limited, Mr G Morrall has a material interest in this company.
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid