Glendale Court Company Ltd - Accounts to registrar (filleted) - small 17.3

GLENDALE COURT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 06056001 (England and Wales)

GLENDALE COURT COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Mrs R Andraous

Dr N F Lewis

V Lewis

SECRETARY:

Mrs R Andraous

REGISTERED OFFICE:

8 Devonshire Terrace

Paddington

London

W2 3DN

REGISTERED NUMBER:

06056001 (England and Wales)

ACCOUNTANTS:

Haines Watts (SEM) Limited

42 High Street

Flitwick

Bedfordshire

MK45 1DU

FIXED ASSETS

Tangible assets

2,429,281

2,428,718

CURRENT ASSETS

Stocks

600

650

Debtors

2,975

4,060

Cash at bank and in hand

33,952

51,476

37,527

56,186

CREDITORS

Amounts falling due within one year

2,157,698

2,182,139

NET CURRENT LIABILITIES

(2,120,171

)

(2,125,953

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

309,110

302,765

CREDITORS

Amounts falling due after more than one
year

(275,465

)

(321,764

)

PROVISIONS FOR LIABILITIES

(6,218

)

NET ASSETS/(LIABILITIES)

27,427

(18,999

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

27,327

(19,099

)

SHAREHOLDERS' FUNDS

27,427

(18,999

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 26 March 2018 and were signed on its behalf by:

V Lewis - Director

1.	STATUTORY INFORMATION

Glendale Court Company Ltd 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and have also been consistently applied within the same

accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

Nil

Fixtures and fittings

15% on reducing balance

The directors believe that due to the continued maintenance, the residual value of the freehold land and

buildings will not fall below cost, for this reason no depreciation is provided.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

COST

At 1 February 2017

2,396,554

88,957

2,485,511

Additions

6,338

At 31 January 2018

2,396,554

95,295

2,491,849

DEPRECIATION

At 1 February 2017

56,793

Charge for year

5,775

At 31 January 2018

62,568

NET BOOK VALUE

At 31 January 2018

2,396,554

32,727

2,429,281

At 31 January 2017

2,396,554

32,164

2,428,718

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Trade debtors

1,622

Other debtors

2,975

2,438

2,975

4,060

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Bank loans and overdrafts (see note 8)

42,835

Trade creditors

14,469

3,599

Taxation and social security

24,279

32,776

Other creditors

2,076,115

2,102,929

2,157,698

2,182,139

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

Bank loans (see note 8)

275,465

321,764

LOANS

An analysis of the maturity of loans is given below:

2018

2017

Amounts falling due within one year or on demand:

Bank loans

42,835

2018

2017

Amounts falling due between one and two years:

Bank loans - 1-2 years

275,465

321,764

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

Bank loans

318,300

364,599

Bank loans are secured on company's fixed and current assets.

10.	PROVISIONS FOR LIABILITIES

2018

2017

Deferred tax

6,218

Deferred

tax

movement in provision

6,218

Balance at 31 January 2018

6,218

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

100

Ordinary shares

£1

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors of the company operate a directors current account. At the year end the directors current account

showed a balance owed to Dr N Lewis of £2,070,163 (2017: £2,094,700).

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, who are members of the same close family .