Glenarm Estates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07354826 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

GLENARM ESTATES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr A Goldman

REGISTERED OFFICE:

115b Drysdale Street

Hoxton

London

N1 6ND

REGISTERED NUMBER:

07354826 (England and Wales)

ACCOUNTANTS:

P J Marks and Co. Ltd

Chartered Certified Accountants

115b Drysdale Street

Hoxton

London

N1 6ND

FIXED ASSETS

Investment property

2

1,170,000

850,000

CURRENT ASSETS

Debtors

26,907

13,683

Cash at bank

23,701

28,292

50,608

41,975

CREDITORS

Amounts falling due within one year

522,148

511,988

NET CURRENT LIABILITIES

(471,540

)

(470,013

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

698,460

379,987

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

698,459

379,986

SHAREHOLDERS' FUNDS

698,460

379,987

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 4 May 2017 and were signed by:

Mr A Goldman - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

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

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 September 2015

850,000

Revaluations

320,000

At 31 August 2016

1,170,000

NET BOOK VALUE

At 31 August 2016

1,170,000

At 31 August 2015

850,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

4.	RELATED PARTY DISCLOSURES

Marvelpride Limited

A company with common director and shareholders.

Total interest of £Nil (2013 £25,000) has been charged in these accounts.

2016

2015

£

Amount due to related party at the balance sheet date

36,000

Mr A Goldman

Director and shareholder

2016

2015

£

Amount due to related party at the balance sheet date

42,568

48,188