Gill (St Ives) Holiday Enterprises Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01312343

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

GILL (ST IVES) HOLIDAY ENTERPRISES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr M H Gill

Mr P J Gill

SECRETARY:

Mr M H Gill

REGISTERED OFFICE:

Beach House Restaurant

The Wharf

St Ives

Cornwall

TR26 1LG

REGISTERED NUMBER:

01312343

ACCOUNTANTS:

Kitchen & Brown

Chartered Accountants

Alpha House

40 Coinagehall Street

Helston

Cornwall

TR13 8EQ

FIXED ASSETS

Tangible assets

2

157,317

160,573

Investments

3

53,474

51,690

210,791

212,263

CURRENT ASSETS

Debtors

4

391,720

416,607

Cash at bank

49,983

4,695

441,703

421,302

CREDITORS

Amounts falling due within one year

32,877

37,852

NET CURRENT ASSETS

408,826

383,450

TOTAL ASSETS LESS CURRENT LIABILITIES

619,617

595,713

PROVISIONS FOR LIABILITIES

1,300

1,500

NET ASSETS

618,317

594,213

CAPITAL AND RESERVES

Called up share capital

5

96

96

Profit and loss account

618,221

594,117

SHAREHOLDERS' FUNDS

618,317

594,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 23 December 2015 and were signed on its behalf by:

Mr M H Gill - Director

Mr P J Gill - Director

1.	ACCOUNTING POLICIES

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's turnover represents rental income receivable, all of which arose wholly in the UK.

Tangible fixed assets

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

life.

Freehold Property

- 2% on cost

Fixtures and fittings

- 15 - 25% on reducing balance

Deferred tax

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

sheet date and which could give rise to an obligation to pay more or less taxation in the future. An asset is not

recognised to the extent that the likelihood of future economic benefit is not certain. Deferred tax is measured on

a non-discounted basis at the tax rates that are expected to apply in the periods in which timing differences

reverse, based on tax rates and laws substantively enacted at the balance sheet date.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

241,798

DEPRECIATION

At 1 April 2014

81,225

Charge for year

3,256

At 31 March 2015

84,481

NET BOOK VALUE

At 31 March 2015

157,317

At 31 March 2014

160,573

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

51,690

Additions

1,784

At 31 March 2015

53,474

NET BOOK VALUE

At 31 March 2015

53,474

At 31 March 2014

51,690

The market value of listed investments at 31 March 2015 was £57,579.

No provision has been made for the liability to corporation tax on chargeable gains that would arise if the above

investments were disposed of at market value. A tax liability of £820 would arise if the investments were disposed

of at the above valuation.

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 75,000 (31.3.14 - £ 75,000 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

96

Ordinary

£1

96

96

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans to directors subsisted during the years ended 31 March 2015 and 31 March 2014:

31.3.15

31.3.14

£

£

Mr M H Gill

Balance outstanding at start of year

200,000

200,000

Amounts advanced

-

-

Amounts repaid

-

-

Balance outstanding at end of year

200,000

200,000

Mr M H Gill, Mr P J Gill and Ms M J Gill

Balance outstanding at start of year

100,000

100,000

Amounts advanced

-

-

Amounts repaid

-

-

Balance outstanding at end of year

100,000

100,000

Beach Restaurant & Vittals

Balance outstanding at start of year

36,752

422

Amounts advanced

11,953

52,439

Amounts repaid

(36,752

)

(16,109

)

Balance outstanding at end of year

11,953

36,752

Ms M J Gill is the daughter of Mr M H Gill and the sister of Mr P J Gill. Interest has been charged at the official

rate on the loans to Mr M H Gill and to Mr M H Gill, Mr P J Gill and Ms M J Gill, giving rise to a charge of

£9,750 (2014 : £12,000).

The Beach Restaurant & Vittals is a partnership of which the directors are the sole partners. The amounts

advanced and repaid are presented on an aggregated basis.

7.	CONTROLLING PARTY

The company is controlled by Mr M H Gill, Mr P J Gill and Ms M J Gill who, together, own two thirds of the

issued share capital.