GALLAN_PARKING_LIMITED - Accounts

GALLAN PARKING LIMITED - Company Information

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Company Registration No. 08496714 (England and Wales)

GALLAN PARKING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

GALLAN PARKING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GALLAN PARKING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

319,667

342,175

Investments

13,811

20,219

333,478

362,394

Current assets

Debtors

850,116

853,245

Cash at bank and in hand

119,851

473,891

969,967

1,327,136

Creditors: amounts falling due within one year

(210,573)

(477,193)

Net current assets

759,394

849,943

Total assets less current liabilities

1,092,872

1,212,337

Capital and reserves

Called up share capital

Profit and loss account

1,092,869

1,212,334

Shareholders' funds

1,092,872

1,212,337

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 June 2017

Mr P T Garry MRICS

Mr M J Gallagher MRICS

Director

Managing Director

Company Registration No. 08496714

GALLAN PARKING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents parking fee income receivable net of VAT ..

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

No depreciation is provided

Plant and machinery

25% Straight Line

Fixtures, fittings & equipment

25% Straight Line

Motor vehicles

25% Straight Line

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Unlisted Investments

Total

Cost

At 1 October 2015

413,206

20,219

433,425

Additions

14,160

Disposals

(6,408)

At 30 September 2016

427,366

13,811

441,177

Depreciation

At 1 October 2015

71,031

Charge for the year

36,668

At 30 September 2016

107,699

Net book value

At 30 September 2016

319,667

13,811

333,478

At 30 September 2015

342,175

20,219

362,394

GALLAN PARKING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Debtors

Debtors include an amount of £630,477 (2015 - £528,484) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

3 Ordinary shares of £1 each

Ultimate parent company

The ultimate parent undertaking and controlling party is Gallan Holdings Limited a company registered in England and Wales.