Glansevern Properties Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 00800115 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2016

for

Glansevern Properties Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D P Goodwin

Mr R M Pothecary

Ms D Sumberova

SECRETARY:

Ms D Sumberova

REGISTERED OFFICE:

London & Thames House

70-72 Croydon Road

Caterham

Surrey

CR3 6QD

REGISTERED NUMBER:

00800115 (England and Wales)

ACCOUNTANTS:

Wilder Coe

Gloucester House

Church Walk

Burgess Hill

West Sussex

RH15 9AS

FIXED ASSETS

Tangible assets

4

358,946

374,915

Investments

5

-

-

358,946

374,915

CURRENT ASSETS

Stocks

3,075,879

3,094,776

Debtors

6

559,820

484,419

Cash at bank and in hand

1,080,777

698,505

4,716,476

4,277,700

CREDITORS

Amounts falling due within one year

7

1,187,843

1,303,399

NET CURRENT ASSETS

3,528,633

2,974,301

TOTAL ASSETS LESS CURRENT LIABILITIES

3,887,579

3,349,216

PROVISIONS FOR LIABILITIES

1,947

-

NET ASSETS

3,885,632

3,349,216

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

361,535

361,535

Retained earnings

3,523,997

2,987,581

SHAREHOLDERS' FUNDS

3,885,632

3,349,216

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30th January 2017 and were signed on its behalf by:

Mr R M Pothecary - Director

1.	STATUTORY INFORMATION

Glansevern Properties Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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

-

10% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2015

and 31st March 2016

459,511

67,780

39,083

566,374

DEPRECIATION

At 1st April 2015

101,108

51,268

39,083

191,459

Charge for year

9,191

6,778

-

15,969

At 31st March 2016

110,299

58,046

39,083

207,428

NET BOOK VALUE

At 31st March 2016

349,212

9,734

-

358,946

At 31st March 2015

358,403

16,512

-

374,915

A significant proportion of the freehold property is used by the company for it's own administrative

purposes. The directors consider that it would be too costly and time consuming to obtain a fair value for

the proportion of the building that is an investment property.

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1st April 2015

and 31st March 2016

42,500

PROVISIONS

At 1st April 2015

and 31st March 2016

42,500

NET BOOK VALUE

At 31st March 2016

-

At 31st March 2015

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

36,735

76,372

Amounts owed by group undertakings

232,372

96,368

Amounts owed by participating interests

277,908

285,951

Other debtors

12,805

25,728

559,820

484,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

23,692

Trade creditors

17,425

79,895

Amounts owed to group undertakings

852,104

854,135

Taxation and social security

120,757

95,773

Other creditors

197,557

249,904

1,187,843

1,303,399

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2016 and

31st March 2015:

2016

2015

£

£

Mr M J Hall

Balance outstanding at start of year

4,000

24,500

Amounts advanced

-

25,050

Amounts repaid

(4,000

)

(45,550

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

4,000

9.	RELATED PARTY DISCLOSURES

The company is owed £277,908 by TJW Electrical Ltd a company that is a subsidiary.There were

transactions of £8,043 during the year all of which were at arms length.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is London & Thames Counties SecuritiesLtd.

The ultimate controlling party is Mr R M Pothecary.