Galleondeal Limited - Abbreviated accounts 16.3
Galleondeal Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| GALLEONDEAL LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2016 |
| GALLEONDEAL LIMITED (REGISTERED NUMBER: 04018426) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| GALLEONDEAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| GALLEONDEAL LIMITED (REGISTERED NUMBER: 04018426) |
| ABBREVIATED BALANCE SHEET |
| 30 NOVEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 2 |
| Profit and loss account | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on its behalf by: |
| GALLEONDEAL LIMITED (REGISTERED NUMBER: 04018426) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2016 |
| 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 is the total amount receivable by the company in the ordinary course of business with |
| outside customers for the sale of property and land. Sales of property are recognised if a legally |
| binding unconditional contract has been exchanged and completed. |
| Rental income is recognised in the period to which it relates. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Going concern |
| The company currently has a minimal ongoing working capital requirement due to the nature of its |
| activities. |
| In making their assessment of going concern, the directors have taken account of the continuing |
| financial support pledged by other group and related companies. The directors are confident that the |
| other group and related companies are able to provide this support and therefore the company |
| should not require alternative financing in order to continue in business. |
| The directors have prepared group forecasts which indicate that the company will be able to meet its |
| liabilities as and when they fall due for payment. These forecasts include expected cash inflows from |
| the sale of properties held by the group and related companies. If these transactions do not occur |
| within the expected timeframe then the group and related companies would need to seek alternative |
| financing in order to continue in business. The directors believe that they have a reasonable |
| expectation of selling the properties within the required timeframe and as a result have drawn up the |
| financial statements using the going concern basis of accounting. |
| 2. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| 50 'A' Ordinary shares | £1 |
| 50 'B' Ordinary shares | £1 |
| 100 Preference shares | £1 |
| 200 | 200 |
| GALLEONDEAL LIMITED (REGISTERED NUMBER: 04018426) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2016 |
| 2. | CALLED UP SHARE CAPITAL - continued |
| Preference shares |
| The preference shares are non-equity shares which carry an entitlement, if the company makes a |
| profit, in priority to any payment of dividend on any other class of shares in the company to a single |
| fixed dividend of £1 per share per annum.If the profits of the company available for distribution by |
| way of dividend exceed £200,000,000 the preference shares shall be entitled in respect of such |
| excess to participate in the profits of the company available for distribution by way of a dividend other |
| than the fixed sum of £1 per share per annum. |
| Holders of preference shares have no voting rights, except on a resolution for the winding-up of the |
| company or on a resolution affecting the rights attached to the shares. Preference share |
| shareholders have the right on a winding-up to receive, after the other classes of shares, the |
| amounts paid up or credited as paid up on such shares. |
| 3. | ULTIMATE PARENT COMPANY |
| The immediate parent company is Artillery Mansions Limited by virtue of its 100% shareholding in |
| the company. |
| The ultimate parent company is James Lawson Holdings Limited by virtue of its controlling interest in |
| Roxylight Holdings Limited. |