Greater London Developments Limited - Abbreviated accounts

IG LOVERIDGE MEWS LIMITED - Company Information

Registered number

03326329

Greater London Developments Limited

Abbreviated Accounts

31 March 2015

Greater London Developments Limited
Registered number:		03326329
Abbreviated Balance Sheet
as at 31 March 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		1,503,926			1,505,235

Current assets
Debtors		30,020			-
Cash at bank and in hand		2			2
		30,022			2

Creditors: amounts falling due within one year		(213,462)			(228,728)

Net current liabilities			(183,440)			(228,726)

Net assets			1,320,486			1,276,509

Capital and reserves
Called up share capital	3		2			2
Revaluation reserve			1,142,856			1,142,856
Profit and loss account			177,628			133,651

Shareholders' funds			1,320,486			1,276,509

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



C Ogunmakin
Director
Approved by the board on 16 May 2016

Greater London Developments Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Investment property
	In accordance with the Financial Reporting Standard for Smaller Entities ( the FRSSE), investment properties are revalued annually by the directors. Any aggregate surplus or temporary deficit from the original cost is transferred to the revaluation reserve. Any impairment in the value of an investment property from original cost is taken to the profit and loss account for the year. On realisation any gain or loss is calculated by reference to the carrying value at the last balance sheet date and is included in the profit and loss account. Any balance in the revaluation reserve is transferred to the profit and loss account reserve. No depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years unexpired. The Companies Act requires all properties to be depreciated, but that requirement conflicts with the generally accepted accounting principle set out in the FRSSE. The directors consider that, as the properties are held for long term investment, a true and fair view is given by following the FRSSE. Depreciation is only one of many factors reflected in the annual valuation of properties and the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 April 2014					1,506,980
	At 31 March 2015					1,506,980

	Depreciation
	At 1 April 2014					1,745
	Charge for the year					1,309
	At 31 March 2015					3,054

	Net book value
	At 31 March 2015					1,503,926
	At 31 March 2014					1,505,235


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2