GFZ Properties Limited - Accounts to registrar (filleted) - small 17.3
GFZ Properties Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| GFZ PROPERTIES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| GFZ PROPERTIES LIMITED (REGISTERED NUMBER: 08364698) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| GFZ PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| 2 St Andrews Place |
| Lewes |
| East Sussex |
| BN7 1UP |
| GFZ PROPERTIES LIMITED (REGISTERED NUMBER: 08364698) |
| BALANCE SHEET |
| 31ST DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 3 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 |
| GFZ PROPERTIES LIMITED (REGISTERED NUMBER: 08364698) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| GFZ Properties Limited is a |
| 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 |
| Turnover |
| Turnover represents sales of properties. Revenue is recognised on exchange of contract unless the contract is |
| conditional in which case the revenue is recognised on completion. |
| Stocks |
| Work in progress represents property acquired for developments together with work in progress on those |
| properties. These assets are included at the lower of cost and net realisable value. Cost for this purpose |
| comprises the purchase cost of the land and buildings, development expenditure and interest on loans. Where |
| applicable costs are apportioned to the property sales on an estimated proceeds basis. |
| Taxation |
| Taxation for the year comprises current 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 taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
| substantively enacted by the balance sheet date. |
| Cost of sales and interest |
| Cost of sales represents development costs including interest paid on loans. Where applicable costs are |
| apportioned to the property sales on an estimated proceeds basis. |
| 3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| GFZ PROPERTIES LIMITED (REGISTERED NUMBER: 08364698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' current accounts | 71,669 | 361,011 |
| Accrued expenses |
| 5. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loans are secured by legal charges over the properties owned by the company and by fixed and floating |
| charges over the assets of the company. |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| A Ordinary | £1 | 50 | 50 |
| B Ordinary | £1 | 50 | 50 |
| C Ordinary | £1 | 1 | 1 |
| 101 | 101 |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |