Go Active Properties Ltd - Accounts to registrar (filleted) - small 17.3

Go Active Properties Ltd - Accounts to registrar (filleted) - small 17.3

GO ACTIVE PROPERTIES LTD - Company Information

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REGISTERED NUMBER: 08136112 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

GO ACTIVE PROPERTIES LTD
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GO ACTIVE PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 31 July 2017







DIRECTOR: Mrs A Kay





REGISTERED OFFICE: Daub House
Daub Lane
Mawdesley
Lancashire
L40 3TQ





REGISTERED NUMBER: 08136112 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB
Page 1
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)

STATEMENT OF FINANCIAL POSITION
31 July 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 300,000

CURRENT ASSETS
Debtors 5 2,500 2,500
Cash at bank 12,724 7,205
15,224 9,705
CREDITORS
Amounts falling due within one year 6 139,852 128,093
NET CURRENT LIABILITIES (124,628 ) (118,388 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
175,372
181,612

CREDITORS
Amounts falling due after more than one
year
7
(49,500
)
(63,250
)

PROVISIONS FOR LIABILITIES (8,394 ) (9,880 )
NET ASSETS 117,478 108,482

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 67,434 65,948
Retained earnings 50,043 42,533
SHAREHOLDERS' FUNDS 117,478 108,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 2 continued...
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)

STATEMENT OF FINANCIAL POSITION - continued
31 July 2017


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 director on 26 April 2018 and were signed by:





Mrs A Kay - Director


The notes form part of these financial statements

Page 3
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2017

1. STATUTORY INFORMATION

Go Active Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

These financial statements for the year ended 31 July 2017 are the first financial statements that comply with
FRS102 Section 1A for small entities. The date of transition is 1 August 2015.

The transition to FRS102 Section 1A has resulted in no changes to the accounting policies used previously.

Turnover
Turnover represents rents receivable during the year excluding value added tax.

Turnover is recognised in accordance with the time period which tenants occupy the business units. Any rents
received in the advance are treated as deferred income within creditors.

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.

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts,
trade creditors, accruals and bank loans.

Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, trade
creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the
cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value
of the future payments and subsequently at amortised cost using the effective interest method unless the effect of
discounting would be immaterial.

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.


Page 4 continued...
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 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 1 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2016
and 31 July 2017 300,000
NET BOOK VALUE
At 31 July 2017 300,000
At 31 July 2016 300,000

Investment property was valued by the director at fair value on 31 July 2017.

Fair value at 31 July 2017 is represented by:

£   
Valuation in 2015 75,828
Cost 224,172
300,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 2,500 2,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 11,000 8,250
Trade creditors - 1,500
Taxation and social security 8,783 4,994
Other creditors 120,069 113,349
139,852 128,093

Page 5 continued...
GO ACTIVE PROPERTIES LTD (REGISTERED NUMBER: 08136112)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 49,500 63,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in more
than five years by instalments 5,500 19,250
5,500 19,250

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 60,500 71,500
Other creditors - 110,000
60,500 181,500

9. RELATED PARTY DISCLOSURES

Mr N Kay
Close family member of the director with significant influence over the company

At the reporting date £111,500 (2016: £nil) was due to Mr N Kay.

The amount outstanding is unsecured. No fixed repayment terms apply and no interest has been charged.

Andrea Kay Ltd
A company in which Mrs A Kay is a director and shareholder

At the reporting date £nil (2016: £110,000) was due to Andrea Kay Limited.

The amount outstanding was secured by way of a legal charge. No fixed repayment terms have been applied and
no interest has been charged.

Andrea Kay Limited was dissolved in January 2018.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A Kay.

Page 6