Galacourt Properties Limited - Abbreviated accounts 16.3

Galacourt Properties Limited - Abbreviated accounts 16.3

GALACOURT PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 02267410 (England and Wales)







ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

GALACOURT PROPERTIES LIMITED

GALACOURT PROPERTIES LIMITED (REGISTERED NUMBER: 02267410)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

GALACOURT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: Mr J Paschali
Mrs T Paschali





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 02267410 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ
Page 1
GALACOURT PROPERTIES LIMITED (REGISTERED NUMBER: 02267410)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 600,000 600,000

CURRENT ASSETS
Debtors 267,306 267,250
Cash at bank 3,557 1,582
270,863 268,832
CREDITORS
Amounts falling due within one year 3 89,171 75,302
NET CURRENT ASSETS 181,692 193,530
TOTAL ASSETS LESS CURRENT
LIABILITIES
781,692
793,530

CREDITORS
Amounts falling due after more than one
year
3
400,362
416,346
NET ASSETS 381,330 377,184

CAPITAL AND RESERVES
Called up share capital 4 2 2
Revaluation reserve 96,619 96,619
Profit and loss account 284,709 280,563
SHAREHOLDERS' FUNDS 381,330 377,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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...
GALACOURT PROPERTIES LIMITED (REGISTERED NUMBER: 02267410)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 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 Board of Directors on 16 November 2016 and were signed on its behalf
by:





Mrs T Paschali - Director


The notes form part of these abbreviated accounts

Page 3
GALACOURT PROPERTIES LIMITED (REGISTERED NUMBER: 02267410)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016


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 January
2015).

Turnover
Turnover consists of rents received.


Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Taxation
Corporation tax payable is provided on the taxable profits at the current rate.


Investment properties
The company's properties are held for long-term investment and are included in the Balance Sheet at their current
market values. The surplus or deficit on revaluation is transferred to the investment property revaluation reserve.
Depreciation is not provided on these investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be
provided on all fixed assets. The directors consider that this policy is necessary in order for the accounts to give
a true and fair view, as current values and changes in current values are of prime importance rather than the
calculation of systematic annual depreciation.

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 April 2015
and 31 March 2016 600,000
NET BOOK VALUE
At 31 March 2016 600,000
At 31 March 2015 600,000

3. CREDITORS

Creditors include an amount of £ 423,150 (31.3.15 - £ 439,134 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16 31.3.15
£    £   
Repayable by instalments 309,210 325,194

Page 4 continued...
GALACOURT PROPERTIES LIMITED (REGISTERED NUMBER: 02267410)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


4. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
2 Share capital 1 £1 2 2

Page 5