GSP Albion Court Limited - Accounts to registrar (filleted) - small 18.2

GSP Albion Court Limited - Accounts to registrar (filleted) - small 18.2

GSP ALBION COURT LIMITED - Company Information

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REGISTERED NUMBER: 08680400 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

GSP ALBION COURT LIMITED
GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GSP ALBION COURT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







DIRECTORS: G O Farha
D Civil
M S Drysdale





REGISTERED OFFICE: 96 Kensington High Street
London
W8 5SG





REGISTERED NUMBER: 08680400 (England and Wales)





ACCOUNTANTS: Civvals Limited
50 Seymour Street
London
W1H 7JG
Page 1
GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

BALANCE SHEET
31 MARCH 2021

2021 2020
Notes £    £   
CURRENT ASSETS
Stocks - 3,072,012
Debtors 4 1,421,111 613,003
Investments 5 100 100
Cash at bank 4,333 98,049
1,425,544 3,783,164
CREDITORS
Amounts falling due within one year 6 1,020,751 901,007
NET CURRENT ASSETS 404,793 2,882,157
TOTAL ASSETS LESS CURRENT
LIABILITIES
404,793
2,882,157

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 404,593 2,881,957
SHAREHOLDERS' FUNDS 404,793 2,882,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 notes form part of these financial statements

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GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

BALANCE SHEET - continued
31 MARCH 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2022 and were signed on its behalf by:





G O Farha - Director


The notes form part of these financial statements

Page 3
GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021


1. STATUTORY INFORMATION

GSP Albion Court Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal place of business is:
Albion Place
Hammersmith
London
W6 0QT

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks comprises property that is held for sale in the ordinary course of business. Principally this is property that the company develops and intends to sell before or on completion of construction. Stocks are valued at the lower of cost and net realisable value.

Page 4 continued...
GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification:

The company holds the following financial instruments:

- Short term trade and other debtors and creditors; and
- Cash and bank balances.

All financial instruments are classified as basic.


Recognition and measurement :

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by 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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Page 5 continued...
GSP ALBION COURT LIMITED (REGISTERED NUMBER: 08680400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts due from other related parties 359,219 277,454
Other debtors 1,061,892 335,549
1,421,111 613,003

5. CURRENT ASSET INVESTMENTS
2021 2020
£    £   
Other 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 413,347 -
Taxation and social security 68,018 235,794
Other creditors 539,386 665,213
1,020,751 901,007

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
200 Ordinary £1 200 200

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