GENERAL DEVELOPMENT BANK LIM - Accounts 2014

GENERAL DEVELOPMENT BANK LIM - Accounts 2014

GENERAL DEVELOPMENT BANK LIMITED - Company Information

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Registered number: 06524409
GENERAL DEVELOPMENT BANK LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
Prepared By:
Jahan & Co.
Chartered Management Accountants
22 Osborn Street
London
E1 6TD

GENERAL DEVELOPMENT BANK LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 March 2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts4
The company's registered number is 06524409

GENERAL DEVELOPMENT BANK LIMITED
Registered Number: 06524409
BALANCE SHEET AT 31 MARCH 2014
20142013
Notes££
FIXED ASSETS
Tangible assets21,5241,905
Investments31,056,3861,056,386
1,057,9101,058,291
CURRENT ASSETS
Debtors (amounts falling due within one year)4971,815-
Cash at bank and in hand21192
971,836192
CREDITORS: Amounts falling due within one year960,270727,510
NET CURRENT ASSETS / (LIABILITIES)11,566(727,318)
TOTAL ASSETS LESS CURRENT LIABILITIES1,069,476330,973
NET ASSETS1,069,476330,973
CAPITAL AND RESERVES
Called up share capital51,150,0001,150,000
Profit and loss account(80,524)(819,027)
SHAREHOLDERS' FUNDS1,069,476330,973

GENERAL DEVELOPMENT BANK LIMITED
Registered Number: 06524409
For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 29 December 2014 and signed on their behalf by
ABDELILAH MALKI
Director

GENERAL DEVELOPMENT BANK LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 20%
1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
1f. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.

GENERAL DEVELOPMENT BANK LIMITED
2. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 1 April 20133,7203,720
At 31 March 20143,7203,720
Depreciation
At 1 April 20131,8151,815
For the year381381
At 31 March 20142,1962,196
Net Book Amounts
At 31 March 20141,5241,524
At 31 March 20131,9051,905
3. INVESTMENT FIXED ASSETS
Other
InvestmentsTotal
££
Cost
At 1 April 20131,056,3861,056,386
At 31 March 20141,056,3861,056,386
Amortisation
Net Book Amounts
At 31 March 20141,056,3861,056,386
At 31 March 20131,056,3861,056,386

GENERAL DEVELOPMENT BANK LIMITED
4. DEBTORS 20142013
££
Amounts falling due within one year:
Trade debtors971,800-
Other debtors15-
971,815-
5. SHARE CAPITAL 20142013
££
Allotted, issued and fully paid:
1150000 Ordinary shares of £1 each11500001150000
1,150,0001,150,000