Abbreviated Company Accounts - GBL MANAGEMENT LIMITED

GBL MANAGEMENT LIMITED - Company Information

04419974 GBL MANAGEMENT LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 04419974 2013-04-01 2014-03-31 04419974 2014-03-31 04419974 2013-03-31 04419974 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 04419974 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2014-03-31 uk-gaap-cd-bus:Director3 2013-03-31 uk-gaap-cd-bus:Director4 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director4 2014-03-31 uk-gaap-cd-bus:Director4 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 04419974

GBL MANAGEMENT LIMITED

Abbreviated Accounts

31 March 2014

GBL MANAGEMENT LIMITED Registered Number 04419974

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Investments	2	430,911	430,911
		430,911	430,911
Current assets
Debtors		5,993	-
Cash at bank and in hand		328	323
		6,321	323
Creditors: amounts falling due within one year		(366,891)	(308,553)
Net current assets (liabilities)		(360,570)	(308,230)
Total assets less current liabilities		70,341	122,681
Creditors: amounts falling due after more than one year		(750)	(750)
Total net assets (liabilities)		69,591	121,931
Capital and reserves
Called up share capital	3	1,100	1,100
Profit and loss account		68,491	120,831
Shareholders' funds		69,591	121,931

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 17 December 2014

And signed on their behalf by:
G B Laverick, Director
A B Slimmings, Director

GBL MANAGEMENT LIMITED Registered Number 04419974

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Intangible assets amortisation policy
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Other accounting policies
Group accounts
The company is entitled under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

2Fixed assets Investments
.............................. Investments
...................................... £
Cost
At 1 April 2013 ........ 430,911
At 31 March 2014 ... 430,911

Net book values
At 31 March 2014 ... 430,911
At 31 March 2013 ... 430,911

Investments details
Subsidiary undertaking
31/03/14 £430,911
31/03/13 £430,911

Holds of 20% or more
The company holds 20% or more of the share capital of the following companies:

Company (Subsidiary undertaking): W R Financial Managements Limited
Country of registration or incorporation: England
Nature of business: Financial advisors
Shares held class: Ordinary
%: 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Company: W R Financial Management Limited
Capital and reserves: £290,194
Profit for the year: £13,798

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1,000 Ordinary shares of £1 each	1,000	1,000
100 B Ordinary shares of £1 each	100	100
750 Preference shares of £1 each	750	750

On 11 January 2008, 750 of the issued Ordinary Shares of £1.00 each were converted into Preference Shares of £1.00 each. Upon the redemption date, each holder of the Preference Shares shall deliver the share certificates to the Registered Office and the Company shall thereupon pay the sum of £1.00 in respect of each share redeemed, thus constituting an absolute discharge to the Company in of payment for the redemption of that share.
Accordingly the Preference Shares that provide a mandatory redemption by the issuer for a fixed amount at a fixed future date have been reclassified as a financial liability.
The Company shall pay to the holders of the Preference Shares, a dividend of £4,156.25 per month payable monthly in arrears over a period of six years. Interest shall accrue on the late payment of the Preference Dividend at a rate of 2% above the base rate of Barclays Bank plc from time to time which shall accrue from the date that the Preference Dividend is due, until the date of actual payment.

4Transactions with directors

Name of director receiving advance or credit:	G B Laverick
Description of the transaction:	Interest free loan
Balance at 1 April 2013:	£ 0
Advances or credits made:	£ 4,000
Advances or credits repaid:	£ 0
Balance at 31 March 2014:	£ 4,000

Name of director receiving advance or credit:	G Mackenzie
Description of the transaction:	Interest free loan
Balance at 1 April 2013:	£ 0
Advances or credits made:	£ 1,993
Advances or credits repaid:	£ 0
Balance at 31 March 2014:	£ 1,993

The directors stated above had interest free loans during the year. The movements on these loans are as shown above.