Glasshouse 5 & 6 Hoxton Limited - Accounts to registrar - small 17.2

Glasshouse 5 & 6 Hoxton Limited - Accounts to registrar - small 17.2

GLASSHOUSE 5 & 6 HOXTON LIMITED - Company Information

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REGISTERED NUMBER: 06288016 (England and Wales)















Financial Statements for the Year Ended 31st December 2016

for

Glasshouse 5 & 6 Hoxton Limited

Glasshouse 5 & 6 Hoxton Limited (Registered number: 06288016)

Contents of the Financial Statements
for the year ended 31st December 2016










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Glasshouse 5 & 6 Hoxton Limited

Company Information
for the year ended 31st December 2016







DIRECTORS: D R H Bixer
D J Nicholson



SECRETARIES: D J Nicholson
D R H Bixer
Ms R E Hawkins
Mrs C M Bixer



REGISTERED OFFICE: 362 Lauderdale Tower
Barbican
London
EC2Y 8NA



REGISTERED NUMBER: 06288016 (England and Wales)



ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE



SOLICITORS: Hayward Moon Property Lawyers
87 Whiting Street
Bury St Edmunds
Suffolk
IP33 1PD
Page 1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Glasshouse 5 & 6 Hoxton Limited


The following reproduces the text of the report prepared for the directors and members in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Glasshouse 5 & 6 Hoxton Limited for the year ended 31st December 2016 which comprise the
Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glasshouse 5 & 6 Hoxton 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 Glasshouse 5 & 6 Hoxton Limited and state those matters that we have agreed to state to the Board of Directors of Glasshouse 5 & 6 Hoxton Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glasshouse 5 & 6 Hoxton Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glasshouse 5 & 6 Hoxton 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 profit of Glasshouse 5 & 6 Hoxton Limited. You consider that Glasshouse 5 & 6 Hoxton 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 Glasshouse 5 & 6 Hoxton 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.






Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE


Date: .............................................

This page does not form part of the statutory financial statements

Page 2
Glasshouse 5 & 6 Hoxton Limited (Registered number: 06288016)

Balance Sheet
31st December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 4,300,000 4,300,000

CURRENT ASSETS
Debtors 4 916,754 794,127

CREDITORS
Amounts falling due within one year 5 25,859 6,667
NET CURRENT ASSETS 890,895 787,460
TOTAL ASSETS LESS CURRENT
LIABILITIES
5,190,895
5,087,460

PROVISIONS FOR LIABILITIES 675,151 705,286
NET ASSETS 4,515,744 4,382,174

CAPITAL AND RESERVES
Called up share capital 2,500,000 2,500,000
Fair value reserve 6 1,124,849 1,094,714
Retained earnings 890,895 787,460
SHAREHOLDERS' FUNDS 4,515,744 4,382,174

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13th July 2017 and were signed on its behalf by:



D R H Bixer - Director


The notes form part of these financial statements

Page 3
Glasshouse 5 & 6 Hoxton Limited (Registered number: 06288016)

Notes to the Financial Statements
for the year ended 31st December 2016


1. STATUTORY INFORMATION

Glasshouse 5 & 6 Hoxton Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Changes in accounting policies
Following the introduction of FRS 102 the investment property yearly gains and losses are recognised in the
Profit and Loss Account rather than in the Statement of Total Recognised Gains and Losses. Accumulated gains
and losses are held in the Fair Value Reserve rather than in the Revaluation Reserve. Deferred taxation is
provided on fair value adjustments rather than disclosed.

This has resulted in the opening reserves at 1 January 2015 being decreased by £261,713 reflecting the historic
deferred taxation provision to that date. The £2,450,000 fair value gain and the resulting £443,573 deferred
taxation adjustment during the year ended 31 December 2015 is reflected in the comparative Profit and Loss
Account adjusting the Profit for the Financial Year to £2,104,296.

Investment property
The company's investment property is included at fair value. Fair value gains and losses are recognised in the
Profit and Loss Account. Deferred taxation is provided on these gains.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 4 continued...
Glasshouse 5 & 6 Hoxton Limited (Registered number: 06288016)

Notes to the Financial Statements - continued
for the year ended 31st December 2016


3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2016
and 31st December 2016 4,300,000
NET BOOK VALUE
At 31st December 2016 4,300,000
At 31st December 2015 4,300,000

Cost or valuation at 31st December 2016 is represented by:

£   
Valuation in 2010 (650,000 )
Valuation in 2014 2,450,000
Cost 2,500,000
4,300,000

The property was valued by GVA Grimley Limited, International Property Advisers, on 4 December 2014 at
£4,300,000.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Amounts owed by group undertakings 916,754 794,127

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Taxation and social security 25,859 6,667

6. RESERVES
Fair
value
reserve
£   
At 1st January 2016 1,094,714
Fair value changes 30,135

At 31st December 2016 1,124,849

7. CONTINGENT LIABILITIES

A legal charge secured on the company's property has been created to secure all monies due or becoming due
from Glasshouse Group Limited to Barclays Bank plc.

Page 5 continued...
Glasshouse 5 & 6 Hoxton Limited (Registered number: 06288016)

Notes to the Financial Statements - continued
for the year ended 31st December 2016


8. ULTIMATE PARENT COMPANY

Glasshouse Group Limited is regarded as the company's ultimate parent company.

Page 6