Goldeggs Properties Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08544352 (England and Wales)

Goldeggs Properties Ltd

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Brar

REGISTERED OFFICE:

Warwick House

Park Corner Road

Betsham

Southfleet

Kent

DA13 9LN

REGISTERED NUMBER:

08544352 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Investment property

2

5,865,981

5,092,000

CURRENT ASSETS

Debtors

182,198

28,293

Cash at bank

348,724

21,089

530,922

49,382

CREDITORS

Amounts falling due within one year

3

350,983

146,362

NET CURRENT ASSETS/(LIABILITIES)

179,939

(96,980

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,045,920

4,995,020

CREDITORS

Amounts falling due after more than one
year

3

5,776,970

4,834,840

NET ASSETS

268,950

160,180

CAPITAL AND RESERVES

Called up share capital

4

335

Revaluation reserve

117,525

Profit and loss account

151,090

42,320

SHAREHOLDERS' FUNDS

268,950

160,180

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 February 2017 and were signed by:

D Brar - 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).

Turnover

Turnover represents rentals receivable during the period, net of VAT where applicable.

Investment property

Investment property is revalued annually by the director on an open market basis and the surplus or deficit

transferred to a revaluation reserve.Therefore, depreciation is not provided. The director considers that this

policy, which represents a departure from the statutory accounting principles, is necessary in order for the

accounts to give a true and fair view.

Deferred tax

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

sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2015

5,092,000

Additions

773,981

At 31 May 2016

5,865,981

NET BOOK VALUE

At 31 May 2016

5,865,981

At 31 May 2015

5,092,000

3.

CREDITORS

Creditors include an amount of £ 3,827,931 (2015 - £ 1,860,485 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

2,665,670

1,284,259

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

335

Ordinary

£1

335