Gladquote Limited - Accounts to registrar (filleted) - small 17.3
Gladquote Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| for |
| Gladquote Limited |
| Gladquote Limited (Registered number: 01654930) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Gladquote Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Gladquote Limited (Registered number: 01654930) |
| Statement of Financial Position |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Gladquote Limited (Registered number: 01654930) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Gladquote Limited is a |
| 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 |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These are the first financial statements that comply with FRS 102 Section 1A small entities. The date of |
| transition is 1 April 2015. No material transitional adjustments were required in equity or profit and loss for the |
| period. |
| Turnover |
| Turnover is measured at the fair value of the consideration receivable and represents sales of properties and |
| rental income receivable. Turnover on the sale of property is recognised on completion and rental income is |
| recognised on a straight-line basis over the term of the rental agreement.at the point that rent is due. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Stocks |
| Stock is comprised of freehold and leasehold properties held for trading and are stated at the lower of cost and |
| selling price, less costs to complete and sell. |
| Financial instruments |
| Debtors - Short term debtors are measured at transaction price, less any impairment. |
| Creditors - Short term creditors are measured at transaction price. Other financial liabilities, including bank |
| loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised |
| cost using the effective interest method. |
| 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 statement of financial position date. |
| Gladquote Limited (Registered number: 01654930) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | STOCKS |
| Stock is valued at lower of cost and estimated selling price less costs to complete the service. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amounts owed by related companies | 4,334,223 | 4,323,912 |
| Gladquote Limited (Registered number: 01654930) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Other creditors |
| Amounts owed to related companies | 6,788 | 5,862 |
| Directors' current accounts | - | 394 |
| Accruals and deferred income |
| Accrued expenses |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loan is secured by legal charges over the company's stock of trade properties. |
| 9. | RELATED PARTY DISCLOSURES |
| Amounts owed by related companies are comprised of loans totalling £4,334,223 (2016 - £4,323,912) made to |
| companies with common directorship. These amounts are interest free and repayable on demand. |
| Amounts owed to related companies of £6,788 (2016 - £5,862) consists of a loan to a company with common |
| directorship. This amount is interest free and repayable on demand. |