Glastonbury Courtyard Limited - Period Ending 2013-12-31

Registration number: 02723621

Glastonbury Courtyard Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Hele Kergozou Limited
Chartered Certified Accountants
Lilac Cottage
The Street
Draycott
Somerset
BS27 3TH

Glastonbury Courtyard Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Glastonbury Courtyard Limited
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Glastonbury Courtyard Limited for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Glastonbury Courtyard Limited, as a body, in accordance with the terms of our engagement letterdated 12 February 2009. Our work has been undertaken solely to prepare for your approval the accounts of Glastonbury Courtyard Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glastonbury Courtyard Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Glastonbury Courtyard Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Glastonbury Courtyard Limited. You consider that Glastonbury Courtyard Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Glastonbury Courtyard Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hele Kergozou Limited
Chartered Certified Accountants
Lilac Cottage
The Street
Draycott
Somerset
BS27 3TH

9 July 2014

Page 1

Glastonbury Courtyard Limited
(Registration number: 02723621)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					368,509			370,223
Current assets
Debtors					6,413			3,765
Cash at bank and in hand					29,815			7,014
					36,228			10,779
Creditors: Amounts falling due within one year					(7,083)			(3,968)
Net current assets					29,145			6,811
Net assets					397,654			377,034
Capital and reserves
Called up share capital		3			230,754			230,754
Profit and loss account					166,900			146,280
Shareholders' funds					397,654			377,034

For the year ending 31 December 2013 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 9 July 2014 and signed on its behalf by:

.........................................
DMP Jones
Director

.........................................
GRJ Mills
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Glastonbury Courtyard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Office equipment	25% reducung balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		385,508			385,508
At 31 December 2013		385,508			385,508
Depreciation
At 1 January 2013		15,285			15,285
Charge for the year		1,714			1,714
At 31 December 2013		16,999			16,999
Net book value
At 31 December 2013		368,509			368,509
At 31 December 2012		370,223			370,223

Page 3

Glastonbury Courtyard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		230,754			230,754			230,754			230,754

4

Control

The company is controlled by The Glastonbury Trust Ltd incorporated in England and Wales, company number 03814918 which owns 100% of the share capital issued.

Page 4