Gilmartin Ley Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02201161 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

GILMARTIN LEY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M P Gilmartin FRICS

Mrs S A Gilmartin

J P Gilmartin MRICS

C A Gilmartin MRICS

J B P Salmon MRICS

Mrs J Evans

SECRETARY:

Mrs S A Gilmartin

REGISTERED OFFICE:

3 Chaseville Parade

Chaseville Park Road

Winchmore Hill

London

N21 1PG

REGISTERED NUMBER:

02201161 (England and Wales)

ACCOUNTANTS:

Hobday & Company

Chartered Accountants

35a High Street

Potters Bar

Hertfordshire

EN6 5AJ

FIXED ASSETS

Intangible assets

2

600,000

650,000

Tangible assets

3

284,506

10,417

Investments

4

1

884,507

660,418

CURRENT ASSETS

Debtors

289,741

130,488

Cash at bank

19,236

110,202

308,977

240,690

CREDITORS

Amounts falling due within one year

171,730

196,402

NET CURRENT ASSETS

137,247

44,288

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,021,754

704,706

CREDITORS

Amounts falling due after more than one
year

5

605,375

462,505

NET ASSETS

416,379

242,201

CAPITAL AND RESERVES

Called up share capital

6

100

Profit and loss account

416,279

242,101

SHAREHOLDERS' FUNDS

416,379

242,201

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 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 19 December 2016 and were signed on its behalf
by:

M P Gilmartin FRICS - Director

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).

Preparation of consolidated financial statements

The financial statements contain information about Gilmartin Ley Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

1,000,000

AMORTISATION

At 1 April 2015

350,000

Amortisation for year

50,000

At 31 March 2016

400,000

NET BOOK VALUE

At 31 March 2016

600,000

At 31 March 2015

650,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

63,883

Additions

281,064

Disposals

(40,545

)

At 31 March 2016

304,402

DEPRECIATION

At 1 April 2015

53,466

Charge for year

6,975

Eliminated on disposal

(40,545

)

At 31 March 2016

19,896

NET BOOK VALUE

At 31 March 2016

284,506

At 31 March 2015

10,417

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

1

NET BOOK VALUE

At 31 March 2016

1

At 31 March 2015

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Extend Now Limited

Nature of business: Property services

%

Class of shares:

holding

Ordinary

100.00

31.3.16

31.3.15

£

Aggregate capital and reserves

1,000

The subsidiary's accounting year end date is not co-terminous with that of the company's and it is now dormant.

5.

CREDITORS

The overdraft of £42,125 is secured by way

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100

7.

CREDITORS

The long term creditor is an amount due to a director, M P Gilmartin and is due to be repaid in instalments over

approximately the next seven years.