Glidelaunch Limited - Accounts to registrar (filleted) - small 17.3

Glidelaunch Limited - Accounts to registrar (filleted) - small 17.3

GLIDELAUNCH LIMITED - Company Information

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REGISTERED NUMBER: 02081411 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

GLIDELAUNCH LIMITED
GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLIDELAUNCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DIRECTORS: M R Conrathe
Mrs J R Conrathe





REGISTERED OFFICE: Woodlands
Calthorpe Street
Ingham
Norwich
NR12 9TF





REGISTERED NUMBER: 02081411 (England and Wales)





ACCOUNTANTS: Skingle Helps & Co
28 Southway
Carshalton Beeches
Surrey
SM5 4HW
Page 1
GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investments 3 1 1
Investment property 4 100,000 100,000
100,001 100,001

CURRENT ASSETS
Cash at bank 25,849 22,358

CREDITORS
Amounts falling due within one year 5 13,877 13,498
NET CURRENT ASSETS 11,972 8,860
TOTAL ASSETS LESS CURRENT
LIABILITIES
111,973
108,861

CAPITAL AND RESERVES
Called up share capital 2 2
Capital reserve 9,213 9,213
Fair value reserve 6 2,296 2,296
Retained earnings 100,462 97,350
SHAREHOLDERS' FUNDS 111,973 108,861

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 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 5 December 2017 and were signed on its behalf
by:





M R Conrathe - Director


The notes form part of these financial statements

Page 2
GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1. STATUTORY INFORMATION

Glidelaunch 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.

Turnover
Turnover represents rent receivable during the year calculated on the basis that the tenant bears the costs of
ground rent and service charges.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

3. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2016
and 31 March 2017 1
NET BOOK VALUE
At 31 March 2017 1
At 31 March 2016 1

Share in property management company.

Page 3 continued...
GLIDELAUNCH LIMITED (REGISTERED NUMBER: 02081411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2016
and 31 March 2017 100,000
NET BOOK VALUE
At 31 March 2017 100,000
At 31 March 2016 100,000

Fair value at 31 March 2017 is represented by:

£   
Valuation in 2003 (37,704 )
Valuation in 2006 20,000
Valuation in 2016 20,000
Cost 97,704
100,000

The director, Mr M R Conrathe, has assessed the value of the company's investment property to be £100,000 on
the basis of there being a lifetime sitting tenant who meets the cost of council tax, water and management
charges including insurance. The director's assessment was based on a valuation as at 30 June 2015 prepared
by Elliott & Co, Chartered Surveyors on 27 November 2015.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation and social security 778 748
Other creditors 13,099 12,750
13,877 13,498

6. RESERVES
Fair
value
reserve
£   
At 1 April 2016
and 31 March 2017 2,296

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M R Conrathe.

Page 4