Gill (St Ives) Holiday Enterprises Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 01312343

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

GILL (ST IVES) HOLIDAY ENTERPRISES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr M H Gill

Mr P J Gill

SECRETARY:

Mr M H Gill

REGISTERED OFFICE:

Beach House Restaurant

The Wharf

St Ives

Cornwall

TR26 1LG

REGISTERED NUMBER:

01312343

ACCOUNTANTS:

Kitchen & Brown

Chartered Accountants

Alpha House

40 Coinagehall Street

Helston

Cornwall

TR13 8EQ

FIXED ASSETS

Tangible assets

2

156,222

157,317

Investments

3

54,967

53,474

211,189

210,791

CURRENT ASSETS

Debtors

4

389,547

391,720

Cash at bank

97,965

49,983

487,512

441,703

CREDITORS

Amounts falling due within one year

92,350

32,877

NET CURRENT ASSETS

395,162

408,826

TOTAL ASSETS LESS CURRENT
LIABILITIES

606,351

619,617

PROVISIONS FOR LIABILITIES

1,600

1,300

NET ASSETS

604,751

618,317

CAPITAL AND RESERVES

Called up share capital

5

96

Profit and loss account

604,655

618,221

SHAREHOLDERS' FUNDS

604,751

618,317

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 23 December 2016 and were signed on its behalf
by:

Mr M H Gill - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The company's turnover represents rental income receivable, all of which arose wholly in the UK.

Tangible fixed assets

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

life.

Freehold Property

- 2% on cost

Fixtures and fittings

- 15 - 25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the

balance sheet date and which could give rise to an obligation to pay more or less taxation in the future. An asset

is not recognised to the extent that the likelihood of future economic benefit is not certain. Deferred tax is

measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which timing

differences reverse, based on tax rates and laws substantively enacted at the balance sheet date.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

241,798

Additions

2,310

At 31 March 2016

244,108

DEPRECIATION

At 1 April 2015

84,481

Charge for year

3,405

At 31 March 2016

87,886

NET BOOK VALUE

At 31 March 2016

156,222

At 31 March 2015

157,317

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

53,474

Additions

1,493

At 31 March 2016

54,967

NET BOOK VALUE

At 31 March 2016

54,967

At 31 March 2015

53,474

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 75,000 (31.3.15 - £ 75,000 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

96

Ordinary

£1

96

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans to directors subsisted during the years ended 31 March 2016 and 31 March 2015:

31.3.16

31.3.15

£

Mr M H Gill

Balance outstanding at start of year

200,000

Amounts advanced

-

Amounts repaid

-

Balance outstanding at end of year

200,000

Mr M H Gill, Mr P J Gill and Ms M J Gill

Balance outstanding at start of year

100,000

Amounts advanced

-

Amounts repaid

-

Balance outstanding at end of year

100,000

Beach Restaurant & Vittals

Balance outstanding at start of year

11,953

36,752

Amounts advanced

10,938

11,953

Amounts repaid

(11,953

)

(36,752

)

Balance outstanding at end of year

10,938

11,953

Ms M J Gill is the daughter of Mr M H Gill and the sister of Mr P J Gill. Interest has been charged at the official

rate on the loans to Mr M H Gill and to Mr M H Gill, Mr P J Gill and Ms M J Gill, giving rise to a charge of

£9,000 (2015 : £9,750).

The Beach Restaurant & Vittals is a partnership of which the directors are the sole partners. The amounts

advanced and repaid are presented on an aggregated basis.

7.	CONTROLLING PARTY

The company is controlled by Mr M H Gill, Mr P J Gill and Ms M J Gill who, together, own two thirds of the

issued share capital.