Abbreviated Company Accounts - GLENEARL LTD

Registered Number 05103897

GLENEARL LTD

Abbreviated Accounts

30 April 2015

GLENEARL LTD Registered Number 05103897

Abbreviated Balance Sheet as at 30 April 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	680,000	680,000
		680,000	680,000
Current assets
Cash at bank and in hand		21,447	7,919
		21,447	7,919
Creditors: amounts falling due within one year		(271,633)	(261,474)
Net current assets (liabilities)		(250,186)	(253,555)
Total assets less current liabilities		429,814	426,445
Creditors: amounts falling due after more than one year		(332,000)	(332,000)
Total net assets (liabilities)		97,814	94,445
Capital and reserves
Called up share capital		1	1
Revaluation reserve		100,000	100,000
Profit and loss account		(2,187)	(5,556)
Shareholders' funds		97,814	94,445

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 January 2016

And signed on their behalf by:
Mrs S R Klein, Director

GLENEARL LTD Registered Number 05103897

Notes to the Abbreviated Accounts for the period ended 30 April 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents rents and similar charges exclusive of VAT.

Other accounting policies
Investment properties are revalued annually and the aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the Profit and Loss Account. No provision is made for depreciation of investment properties. This departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated is, in the opinion of the directors, necessary for the accounts to show a true and fair view. The depreciation charge is only one of the factors reflected in the annual valuation and, therefore, the effect of the departure cannot be readily quantified. The directors consider that this policy results in the accounts giving a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 May 2014	680,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2015	680,000
Depreciation
At 1 May 2014	-
Charge for the year	-
On disposals	-
At 30 April 2015	-
Net book values
At 30 April 2015	680,000
At 30 April 2014	680,000