Glenridge (Kingshill) Limited - Abbreviated accounts

GLENRIDGE (KINGSHILL) LIMITED - Company Information

Registered number

05560334

Glenridge (Kingshill) Limited

Abbreviated Accounts

29 February 2016

Glenridge (Kingshill) Limited						Registered number
Abbreviated Balance Sheet						05560334
as at 29 February 2016


Notes			2016			2015

£				£

Current assets
Stocks		-			29,125
Debtors		37,123			269,569
Cash at bank and in hand		-			14,082
		37,123			312,776

Creditors: amounts falling due within one year		(37,023)			(51,324)

Net current assets			100			261,452

Total assets less current liabilities			100			261,452

Deferred income			-			(223,050)

Net assets			100			38,402

Capital and reserves
Called up share capital	2		100			100
Profit and loss account			-			38,302

Shareholders' funds			100			38,402



The director is 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 director acknowledges his 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.




B Deschauer
Director
Approved by the board on 15 September 2016

Glenridge (Kingshill) Limited
Notes to the Abbreviated Accounts
for the year ended 29 February 2016


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).

	Going concern basis
	As part of a rationalisation of group activities, the company's remaining business activities were transferred to another group company in November 2015. This left the company with very few debts owing outside the group and the intention is that any legitimate balances are to be transferred for settlement through the holding company. It is intended to seek an orderly dissolution of the company and, in the particular circumstances of this case, the director does not consider that it would be meaningful to attempt to re-state the accounts on a break-up basis.

	Turnover and deferred income
	The company entered into agreements for the sale of plots of land whereby payment was generally deferred over a period of years. Title to the land did not pass until payment was received in full and income was therefore deferred until such time as the contract was considered to be materially fulfilled, at which point it was reflected in the profit and loss account. On the cessation of trading in November 2015, the company's responsibility in relation to any remaining sales agreements ceased. Any amounts received on these agreements, but not previously accounted for as turnover, have been reflected as income in the accounts for the current year.

	Stocks
	Stock is valued at the lower of cost and net realisable value.



2	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100



3	Controlling parties

	At 29 February 2016 the company was a wholly owned subsidiary of Commonwealth Properties Limited. The ultimate holding company was AKM Holdings Limited, incorporated in Guernsey, and the ultimate controlling party was Mr B A Deschauer.