Garden City Consultants Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05065625 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

GARDEN CITY CONSULTANTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S J Spendelow

REGISTERED OFFICE:

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

05065625 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

4

212

402

CURRENT ASSETS

Debtors

5

56,573

59,829

Cash at bank

10,308

10,195

66,881

70,024

CREDITORS

Amounts falling due within one year

6

12,648

11,840

NET CURRENT ASSETS

54,233

58,184

TOTAL ASSETS LESS CURRENT LIABILITIES

54,445

58,586

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

54,443

58,584

SHAREHOLDERS' FUNDS

54,445

58,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 director on 14 November 2017 and were signed by:

Mr S J Spendelow - Director

1.	STATUTORY INFORMATION

Garden City Consultants 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The preparation of financial statements in conformity with FRS 102 Section 1A requires the use of certain

critical accounting estimates. It also requires management to exercise judgement in applying the company's

accounting policies.

Information on the impact of first-time adoption of FRS 102 Section 1A is given in the last note in notes to the

financial statements. The following principal accounting policies have been applied:

Accounting estimates and judgements

In preparing the financial statements, management were not required to make any estimates or judgements which

materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates

in order to write off each asset over its estimated useful life.

Computer Equipment - 33.33% on straight line.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 April 2016

and 31 March 2017

570

Depreciation

At 1 April 2016

168

Charge for year

190

At 31 March 2017

358

Net book value

At 31 March 2017

212

At 31 March 2016

402

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

2,256

2,190

Director's loan account

41,979

46,111

S455 tax recoverable

11,528

11,528

Prepayments and accrued income

810

-

56,573

59,829

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Corporation tax payable

8,352

8,760

Social security and other taxes

876

513

VAT

3,326

2,473

Accrued expenses

94

94

12,648

11,840

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 April 2016

58,584

Profit for the year

33,233

Dividends

(37,374

)

At 31 March 2017

54,443

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,374 (2016 - £39,286) were paid to the director .

At balance sheet date, there was an amount due from the director, Mr S J Spendelow for £41,979 (2016:

£46,111). This is an interest free advance from the company and does not have a fixed date of repayment.

10.	CONTROLLING PARTY

The controlling party is Mr S J Spendelow.

11.	FIRST YEAR ADOPTION

This was the first year that the company has presented its results under FRS 102 Section 1A. The last financial

statements under FRSSE 2015 were for the year ended 31 March 2016. The date of transition to FRS 102

Section 1A was 1 April 2016.

There is no impact on either the Profit and Loss account or the net assets of the company upon the transition to

FRS 102 (Section 1A).