Greenford Strategic Property Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06387885 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

GREENFORD STRATEGIC PROPERTY LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

6

DIRECTORS:

M C Cole

Ms J H Cole

REGISTERED OFFICE:

Hanger SE35

Gloucestershire Airport

Staverton

Cheltenham

Gloucestershire

GL51 6SR

REGISTERED NUMBER:

06387885 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Greenford Strategic Property Limited for the year ended 31 May 2016 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Greenford Strategic Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greenford Strategic Property Limited and state those matters that we have agreed to state to the Board of Directors of Greenford Strategic Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Greenford Strategic Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Greenford Strategic Property Limited. You consider that Greenford Strategic Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Greenford Strategic Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

7 March 2017

FIXED ASSETS

Intangible assets

2

176,000

Tangible assets

3

2,612,027

2,682,844

2,788,027

2,858,844

CURRENT ASSETS

Debtors

4

17,418

25,192

Cash at bank

8,791

29,025

26,209

54,217

CREDITORS

Amounts falling due within one year

252,768

284,438

NET CURRENT LIABILITIES

(226,559

)

(230,221

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,561,468

2,628,623

CREDITORS

Amounts falling due after more than one
year

5

2,521,208

2,485,381

NET ASSETS

40,260

143,242

CAPITAL AND RESERVES

Called up share capital

6

100

Profit and loss account

40,160

143,142

SHAREHOLDERS' FUNDS

40,260

143,242

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 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 7 March 2017 and were signed on its behalf by:

M C Cole - 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

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives

from the provision of goods and services falling within the company's ordinary activities.

Goodwill

Acquired goodwill is written off in equal instalments over its estimated useful economic life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

5% on cost

Long leasehold

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

176,000

NET BOOK VALUE

At 31 May 2016

176,000

At 31 May 2015

176,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

2,796,953

Additions

7,703

At 31 May 2016

2,804,656

DEPRECIATION

At 1 June 2015

114,109

Charge for year

78,520

At 31 May 2016

192,629

NET BOOK VALUE

At 31 May 2016

2,612,027

At 31 May 2015

2,682,844

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 12,525

5.

CREDITORS

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

2016

2015

£

Repayable otherwise than by instalments

1,587,350

1,708,763

Repayable by instalments

719,282

393,708

2,306,632

2,102,471

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100