Gladquote Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01654930 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Gladquote Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Z I F Schlaff

C D Schlaff

SECRETARY:

Z I F Schlaff

REGISTERED OFFICE:

10-14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

01654930 (England and Wales)

FIXED ASSETS

Tangible assets

2

238

298

CURRENT ASSETS

Stocks

1,935,520

Debtors

4,390,845

4,288,726

Cash at bank

2,989

102,964

6,329,354

6,327,210

CREDITORS

Amounts falling due within one year

3

1,525,821

1,772,546

NET CURRENT ASSETS

4,803,533

4,554,664

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,803,771

4,554,962

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

4,803,671

4,554,862

SHAREHOLDERS' FUNDS

4,803,771

4,554,962

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 5 January 2017 and were signed on its behalf by:

C D Schlaff - 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 turnover of the company is represented by sales of properties and rental income receivable. Turnover on the

sale of property is recognised on completion and rental income is recognised at the point that rent is due.

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

-

20% on reducing balance

Stocks

Stock is comprised of freehold and leasehold properties held for trading and are included in the accounts at

lower of cost and net realisable value.

Deferred tax

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

sheet date except that:

- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient

taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

3,674

DEPRECIATION

At 1 April 2015

3,376

Charge for year

60

At 31 March 2016

3,436

NET BOOK VALUE

At 31 March 2016

238

At 31 March 2015

298

3.

CREDITORS

Creditors include an amount of £ 1,380,243 (31.3.15 - £ 1,414,456 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

1

100

5.	ULTIMATE PARENT COMPANY

Angora Properties SA (incorporated in Panama ) is regarded by the directors as being the company's ultimate

parent company.