Goldline Property Investments Limited Company Accounts

Goldline Property Investments Limited Company Accounts

GOLDLINE PROPERTY INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05686459
Goldline Property Investments Limited
Filleted Unaudited Financial Statements
31 January 2017
Goldline Property Investments Limited
Financial Statements
year ended 31st January 2017
Contents
Pages
Officers and professional advisers
1
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3 to 4
Notes to the financial statements
5 to 6
Goldline Property Investments Limited
Officers and Professional Advisers
The board of directors
J D Gardiner
C S Gardiner
Company secretary
C S Gardiner
Registered office
Pendragon House
65 London Road
St Albans
AL1 1LJ
Accountants
Gilberts
Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
Goldline Property Investments Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Goldline Property Investments Limited
year ended 31st January 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Goldline Property Investments Limited for the year ended 31st January 2017, which comprise the statement of financial position 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 at: www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Goldline Property Investments Limited, as a body, in accordance with the terms of our engagement letter dated 17th July 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Goldline Property Investments Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldline Property Investments Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Goldline Property Investments 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 Goldline Property Investments Limited. You consider that Goldline Property Investments 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 Goldline Property Investments 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.
Gilberts Chartered Accountants Pendragon House , 65 London Road , St Albans , Hertfordshire , AL1 1LJ
6 September 2017
Goldline Property Investments Limited
Statement of Financial Position
31 January 2017
2017
2016
Note
£
£
Fixed assets
Tangible assets
4
101
201
Current assets
Debtors
5
–
2,965
Cash at bank and in hand
227
1,429
----
-------
227
4,394
Creditors: amounts falling due within one year
6
99,319
97,641
--------
--------
Net current liabilities
99,092
93,247
--------
--------
Total assets less current liabilities
( 98,991)
( 93,046)
--------
--------
Net liabilities
( 98,991)
( 93,046)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 98,993)
( 93,048)
--------
--------
Members deficit
( 98,991)
( 93,046)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st January 2017 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 .
Goldline Property Investments Limited
Statement of Financial Position (continued)
31 January 2017
These financial statements were approved by the board of directors and authorised for issue on 6 September 2017 , and are signed on behalf of the board by:
J D Gardiner
Director
Company registration number: 05686459
Goldline Property Investments Limited
Notes to the Financial Statements
year ended 31st January 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendragon House, 65 London Road, St Albans, AL1 1LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling which is the functional currency of the entity. The financial statements have been prepared on the historical cost basis and are prepared in sterling which is the functional currency of the entity. These accounts have been prepared on a going concern basis which assumes that the directors will provide the necessary finance to enable the Company to continue in operational existence for the foreseeable future.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1st February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 Feb 2016 and 31 Jan 2017
3,804
3,804
-------
-------
Depreciation
At 1st February 2016
3,603
3,603
Charge for the year
100
100
-------
-------
At 31st January 2017
3,703
3,703
-------
-------
Carrying amount
At 31st January 2017
101
101
-------
-------
At 31st January 2016
201
201
-------
-------
5. Debtors
2017
2016
£
£
Other debtors
–
2,965
----
-------
6. Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
23,111
17,601
Other creditors
76,208
80,040
--------
--------
99,319
97,641
--------
--------
7. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st February 2015.
No transitional adjustments were required in equity or profit or loss for the year.