Golden Choice (Europe) Limited - Abbreviated accounts 16.3

Golden Choice (Europe) Limited - Abbreviated accounts 16.3

GOLDEN CHOICE (EUROPE) LIMITED - Company Information

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REGISTERED NUMBER: 03660339 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

GOLDEN CHOICE (EUROPE) LIMITED

GOLDEN CHOICE (EUROPE) LIMITED (REGISTERED NUMBER: 03660339)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Accountants' Report 6

GOLDEN CHOICE (EUROPE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2016







DIRECTOR: A I Bashir





SECRETARY: A Bashir





REGISTERED OFFICE: 2B Bricknoll Park
Ashley Road
Saint Albans
AL1 5UG





REGISTERED NUMBER: 03660339 (England and Wales)





ACCOUNTANTS: Patsons Accountancy Limited
Suraj Chambers
53 Islington Park Street
London
N1 1QB
Page 1
GOLDEN CHOICE (EUROPE) LIMITED (REGISTERED NUMBER: 03660339)

ABBREVIATED BALANCE SHEET
29 FEBRUARY 2016

29.2.16 28.2.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 42,118 49,361
Investment property 3 2,336,359 1,054,867
2,378,477 1,104,228

CURRENT ASSETS
Cash at bank and in hand 29,281 748

CREDITORS
Amounts falling due within one year 310,400 44,183
NET CURRENT LIABILITIES (281,119 ) (43,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,097,358
1,060,793

CREDITORS
Amounts falling due after more than one year 4 1,291,379 273,060
NET ASSETS 805,979 787,733

CAPITAL AND RESERVES
Called up share capital 5 100 100
Revaluation reserve 472,063 472,063
Profit and loss account 333,816 315,570
SHAREHOLDERS' FUNDS 805,979 787,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

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 notes form part of these abbreviated accounts

Page 2 continued...
GOLDEN CHOICE (EUROPE) LIMITED (REGISTERED NUMBER: 03660339)

ABBREVIATED BALANCE SHEET - continued
29 FEBRUARY 2016


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 director on 5 November 2016 and were signed by:





A I Bashir - Director


The notes form part of these abbreviated accounts

Page 3
GOLDEN CHOICE (EUROPE) LIMITED (REGISTERED NUMBER: 03660339)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016

1. ACCOUNTING POLICIES

Accounting policies
The financial statements have been prepared under the historical cost basis, modified to include the revaluation of
investment property, and in accordance with the Financial Reporting Standard for
Smaller Entities(effective January 2015)

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 January 2015).

Turnover
Turnover represents rental income which is recognised as income on a straight-line basis over the period of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

Investment properties are freehold and leasehold held to earn rental income and/or for capital appreciation.

Investment properties are stated in the balance sheet at open market value. Changes in market value are recognised in
revaluation reserve and shown in the statement of total recognised gains and losses, unless a deficit in valuation on
an individual property is expected to be permanent in which case it is charged to the profit and loss account for the
period.
Depreciationis not provided on investment properties.This is contrary to the requirements of the
Companies Act 2006 but is necessary in order for the accounts to give atrue and fair view.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date, except for revaluation gains and losses unless,by the balance sheet date,the company has entered into a
binding agreement to sell the asset and has revalued the asset to the selling price.

Page 4 continued...
GOLDEN CHOICE (EUROPE) LIMITED (REGISTERED NUMBER: 03660339)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015
and 29 February 2016 72,439
DEPRECIATION
At 1 March 2015 23,078
Charge for year 7,243
At 29 February 2016 30,321
NET BOOK VALUE
At 29 February 2016 42,118
At 28 February 2015 49,361

3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2015 1,054,867
Additions 1,281,492
At 29 February 2016 2,336,359
NET BOOK VALUE
At 29 February 2016 2,336,359
At 28 February 2015 1,054,867

4. CREDITORS

Creditors include an amount of £ 865,026 (28.2.15 - £ 273,060 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.16 28.2.15
value: £    £   
100 Ordinary £1 100 100

6. CONTROLLING PARTY

The company is controlled by the director.

Page 5
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GOLDEN CHOICE (EUROPE) LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have
been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of Golden Choice (Europe) Limited for the year ended 29 February 2016 which comprise the Profit and Loss
Account, the Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Golden Choice (Europe) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Golden Choice (Europe) Limited and state those matters that we have agreed to state to the director of Golden Choice (Europe) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golden Choice (Europe) Limited director for our work or for this report.

It is your duty to ensure that Golden Choice (Europe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Golden Choice (Europe) Limited. You consider that Golden Choice (Europe) 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 financial statements of Golden Choice (Europe) 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 financial statements.






Patsons Accountancy Limited
Suraj Chambers
53 Islington Park Street
London
N1 1QB


6 November 2016

This page does not form part of the abbreviated accounts

Page 6