Gill (St Ives) Holiday Enterprises Ltd - Limited company - abbreviated

REGISTERED NUMBER: 01312343

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

GILL (ST IVES) HOLIDAY ENTERPRISES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

7

DIRECTORS:

Mr M H Gill

Mr P J Gill

SECRETARY:

Mr M H Gill

REGISTERED OFFICE:

Beach House Restaurant

The Wharf

St Ives

Cornwall

TR26 1LG

REGISTERED NUMBER:

01312343

ACCOUNTANTS:

Kitchen & Brown

Chartered Accountants

Alpha House

40 Coinagehall Street

Helston

Cornwall

TR13 8EQ

FIXED ASSETS

Tangible assets

2

160,573

163,076

Investments

3

51,690

30,405

212,263

193,481

CURRENT ASSETS

Debtors

4

416,607

380,946

Cash at bank

4,695

25,262

421,302

406,208

CREDITORS

Amounts falling due within one year

37,852

52,423

NET CURRENT ASSETS

383,450

353,785

TOTAL ASSETS LESS CURRENT
LIABILITIES

595,713

547,266

PROVISIONS FOR LIABILITIES

1,500

1,600

NET ASSETS

594,213

545,666

CAPITAL AND RESERVES

Called up share capital

5

96

Profit and loss account

594,117

545,570

SHAREHOLDERS' FUNDS

594,213

545,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 December 2014 and were signed on its behalf
by:

Mr M H Gill - Director

Mr P J Gill - Director

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 April 2008).

Turnover

The company's turnover represents rental income receivable, all of which arose wholly in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Freehold Property

- 2% on cost

Fixtures and fittings

- 15 - 25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the

balance sheet date and which could give rise to an obligation to pay more or less taxation in the future. An asset

is not recognised to the extent that the likelihood of future economic benefit is not certain. Deferred tax is

measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which timing

differences reverse, based on tax rates and laws substantively enacted at the balance sheet date.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

240,811

Additions

987

At 31 March 2014

241,798

DEPRECIATION

At 1 April 2013

77,735

Charge for year

3,490

At 31 March 2014

81,225

NET BOOK VALUE

At 31 March 2014

160,573

At 31 March 2013

163,076

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2013

30,405

Additions

21,285

At 31 March 2014

51,690

NET BOOK VALUE

At 31 March 2014

51,690

At 31 March 2013

30,405

The market value of listed investments at 31 March 2014 was £52,933.

No provision has been made for the liability to corporation tax on chargeable gains that would arise if the above

investments were disposed of at market value. A tax liability of £249 would arise if the investments were

disposed of at the above valuation.

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 75,000 (31.3.13 - £ 75,000 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

96

Ordinary

£1

96

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans to directors subsisted during the years ended 31 March 2014 and 31 March 2013:

31.3.14

31.3.13

£

Mr M H Gill

Balance outstanding at start of year

200,000

Amounts advanced

-

Amounts repaid

-

Balance outstanding at end of year

200,000

Mr M H Gill, Mr P J Gill and Ms M J Gill

Balance outstanding at start of year

100,000

Amounts advanced

-

Amounts repaid

-

Balance outstanding at end of year

100,000

Beach Restaurant & Vittals

Balance outstanding at start of year

422

11,283

Amounts advanced

52,439

34,139

Amounts repaid

(16,109

)

(45,000

)

Balance outstanding at end of year

36,752

422

Ms M J Gill is the daughter of Mr M H Gill and the sister of Mr P J Gill. Interest has been charged at the official

rate on the loans to Mr M H Gill and to Mr M H Gill, Mr P J Gill and Ms M J Gill, giving rise to a charge of

£12,000 (2013 : £12,000).

The Beach Restaurant & Vittals is a partnership of which the directors are the sole partners. The amounts

advanced and repaid are presented on an aggregated basis.

7.	CONTROLLING PARTY

The company is controlled by Mr M H Gill, Mr P J Gill and Ms M J Gill who, together, own two thirds of the

issued share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended

31 March 2014 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to

fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to 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 icaew.com/membershandbook.

Kitchen & Brown

Chartered Accountants

Alpha House

40 Coinagehall Street

Helston

Cornwall

TR13 8EQ

Date: 4 December 2014

Gill (St Ives) Holiday Enterprises Ltd - Limited company - abbreviated - 11.6

Gill (St Ives) Holiday Enterprises Ltd - Limited company - abbreviated - 11.6