Ground Level Up Ltd - Limited company - abbreviated - 11.9
Ground Level Up Ltd - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015 |
| FOR |
| GROUND LEVEL UP LTD |
| GROUND LEVEL UP LTD (REGISTERED NUMBER: 08429029) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| GROUND LEVEL UP LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| GROUND LEVEL UP LTD (REGISTERED NUMBER: 08429029) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2015 |
| 31.3.15 | 31.3.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 financial statements were approved by the director on |
| GROUND LEVEL UP LTD (REGISTERED NUMBER: 08429029) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 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 rental income and sales of property excluding VAT. |
| Tangible fixed assets |
| Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the |
| directors believe that the policy of not providing depreciation on Investment Property and Property under |
| Construction is necessary in order for the accounts to give a true and fair view, since the current value of these |
| items, and changes to that current value, are of prime importance rather than a calculation of systematic annual |
| depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which |
| might otherwise have been shown cannot be separately identified or quantified. |
| Investment Property |
| Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from |
| changes in market value is transferred to a revaluation reserve. |
| Stocks |
| Work in progress is stated at the lower of cost and net realizable value. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. Deferred tax assets and liabilities are not discounted. Tax on losses available to carry forward against |
| future profits and tax on accelerated capital allowances is recognised as a deferred tax asset, where on the basis |
| of available evidence it is more likely than not that there will be taxable profits in the future against which the |
| deferred tax asset can be offset. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2014 |
| Additions |
| Revaluations |
| At 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| GROUND LEVEL UP LTD (REGISTERED NUMBER: 08429029) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.15 | 31.3.14 |
| value: | £ | £ |
| Ordinary | £1 |