Gloucester Period Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07595059 (England and Wales)

Gloucester Period Homes Limited

Unaudited Financial Statements

for the Year Ended

30 April 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

G S Glass

A E Glass

REGISTERED OFFICE:

Studio Three

3 Edgar Buildings

George Street

Bath

BA1 2FJ

REGISTERED NUMBER:

07595059 (England and Wales)

ACCOUNTANTS:

Haines Watts

8 Hopper Way

Diss

Norfolk

IP22 4GT

FIXED ASSETS

Investment property

4

1,200,000

500,000

CURRENT ASSETS

Stocks

-

664,452

Debtors

5

898

5,654

Cash at bank

24,150

43,008

25,048

713,114

CREDITORS

Amounts falling due within one year

6

(1,234,778

)

(1,231,312

)

NET CURRENT LIABILITIES

(1,209,730

)

(518,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,730

)

(18,198

)

CAPITAL AND RESERVES

Called up share capital

9

20

4

Other reserves

10

79,070

39,677

Retained earnings

10

(88,820

)

(57,879

)

SHAREHOLDERS' FUNDS

(9,730

)

(18,198

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 10 September 2018 and were signed on its behalf by:

G S Glass - Director

A E Glass - Director

1.	STATUTORY INFORMATION

Gloucester Period Homes Limited 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 as modified by the revaluation of certain assets.

Turnover

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

rebates, value added tax and other sales taxes.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Going concern

The directors have reviewed the expected future transactions of the company for the twelve months from

the date of this report and are satisfied the company can be treated as a going concern despite the deficit on

reserves as at 30 April 2018 as the directors have agreed to fund the deficit as at 30 April 2018 for at least 12

months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

500,000

Additions

700,000

At 30 April 2018

1,200,000

NET BOOK VALUE

At 30 April 2018

1,200,000

At 30 April 2017

500,000

Fair value at 30 April 2018 is represented by:

£

Valuation in 2017

500,000

Valuation in 2018

700,000

1,200,000

If let property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

1,120,914

460,323

Let property was valued on an open market basis basis on 30 April 2018 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

898

5,654

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

848,400

519,705

Trade creditors

40,491

28,875

Taxation and social security

-

1,695

Other creditors

345,887

681,037

1,234,778

1,231,312

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

848,400

519,705

The loan is secured by a fixed charge on Enterprise House, 19-21 Brunswick Road, Gloucester, which is

included partly as Investment Property, and any other interests that may arise in respect of that property.

8.	DEFERRED TAX

£

Balance at 1 May 2017

(5,654

)

Charge to Income Statement during year

4,756

Balance at 30 April 2018

(898

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

20

Ordinary

1

20

4

16 Ordinary shares of 1 each were allotted as fully paid as a bonus issue out of reserves during the year.

10.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 May 2017

(57,879

)

39,677

(18,202

)

Deficit for the year

(30,941

)

(30,941

)

Bonus share issue

-

(16

)

(16

)

Non distributable reserve

-

39,409

39,409

At 30 April 2018

(88,820

)

79,070

(9,750

)