Grilseco Limited - Limited company - abbreviated

REGISTERED NUMBER: 02815523 (England and Wales)

Abbreviated Accounts for the Year Ended 31 December 2014

for

Grilseco Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S S Gill

Mrs S K Gill

B S Gill

REGISTERED OFFICE:

Unit 20-21

Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0AP

REGISTERED NUMBER:

02815523 (England and Wales)

ACCOUNTANTS:

Fitzgerald Mithia Springer Limited

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Tangible assets

2

631

841

Investment property

3

3,732,155

3,624,780

3,732,786

3,625,621

CURRENT ASSETS

Debtors

15,367

Cash at bank

70,634

95,199

86,001

110,566

CREDITORS

Amounts falling due within one year

(41,126

)

(69,705

)

NET CURRENT ASSETS

44,875

40,861

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,777,661

3,666,482

CREDITORS

Amounts falling due after more than one
year

4

(3,320,830

)

(3,209,159

)

NET ASSETS

456,831

457,323

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

366,117

Profit and loss account

90,712

91,204

SHAREHOLDERS' FUNDS

456,831

457,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 profit or loss 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 25 September 2015 and were signed on its behalf
by:

S S Gill - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents rent receivable during the year.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment property

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting

Standard for Smaller Entities (effective April 2008). Such properties are held for their investment potential and

not for consumption within the business. This is a departure from the Companies Act 2006 which requires all

properties to be depreciated, but is preferred by the directors in order for the financial statements to give a true

and fair view.

Investment properties are stated at their market value at the balance sheet date.

Deferred tax

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

sheet date where transactions or events that result in an obligation to pay more, or a right to pay less, tax in the

future have occurred at the balance sheet date.

This is subject to deferred tax assets only being recognised if it is considered more likely than not that there will

be suitable profits from which the future reversal of the underlying timing differences can be deducted.

Timing differences are differences arising between the Company's taxable profits and its results as stated in the

financial statements, which are capable of reversal in one or more subsequent periods.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

17,000

DEPRECIATION

At 1 January 2014

16,159

Charge for year

210

At 31 December 2014

16,369

NET BOOK VALUE

At 31 December 2014

631

At 31 December 2013

841

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2014

3,624,780

Additions

107,375

At 31 December 2014

3,732,155

NET BOOK VALUE

At 31 December 2014

3,732,155

At 31 December 2013

3,624,780

4.

CREDITORS

Creditors include an amount of £ 3,320,830 (31.12.13 - £ 3,209,159 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.14

31.12.13

£

Repayable otherwise than by instalments

2,618,459

3,128,205

Repayable by instalments

59,521

80,954

2,677,980

3,209,159

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

2

Ordinary

£1

2

Grilseco Limited - Limited company - abbreviated - 11.6

Grilseco Limited - Limited company - abbreviated - 11.6