pinacle - Company Accounts (iXBRL 6.0.16)

G & V ESTATES (NO.2) LIMITED

FILLETED FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2017

COMPANY REGISTRATION NUMBER - 7906568

	1.
G & V ESTATES (NO.2) LIMITED
COMPANY NUMBER - 7906568
BALANCE SHEET AS AT 30 SEPTEMBER 2017

			2017		2016
			----		----

	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	4		904,000		633,290
CURRENT ASSETS
Debtors	5	42,300		32,637
Cash at bank and in hand		257,181		257,642
		299,481		290,279
CURRENT LIABILITIES
CREDITORS - Amounts
falling due within one year	6	238,837		237,286
NET CURRENT ASSETS			60,644		52,993
TOTAL ASSETS LESS CURRENT LIABILITIES			964,644		686,283
Provisions for liabilities
Deferred taxation	7		(148,098)		(95,674)
NET ASSETS			816,546		590,609
CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit - Not distributable			710,323		492,037
Profit and Loss account			106,222		98,571
SHAREHOLDERS' FUNDS			816,546		590,609

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 30 September 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the board of directors on20 September 2018
and signed on their behalf by:
G LEWIN
The notes on pages 2 to 4 form an integral part of these accounts.

	2.
G & V ESTATES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2017
1. COMPANY INFORMATION

G & V Estates (No.2) Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 7906568.

The company's registered office is Parkgates,Bury New Road, Prestwich Manchester, M25 0TL.

2. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 10.

The financial statements are presented in pounds sterling, which is the functional currency of the entity.

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable. Turnover is reduced for estimated rebates and other similar allowances.

INVESTMENT PROPERTIES

Investment property is carried at fair value as determined by the directors. Revaluation surpluses and deficits are recognised in the profit and loss account. Deferred taxation is provided on these gains or losses at the rate that is expected to apply to them when the property is sold.

DEFERRED TAXATION

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

3. EMPLOYEES

The average number of persons employed by the company (including directors) during the year was 2 (2016 - 2).

	3.
G & V ESTATES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2017

4. FIXED ASSETS - TANGIBLE

	Land and
	Buildings
Fair value	£
At 1 October 2016	633,290
Revaluation	270,710
At 30 September 2017	904,000
Net book values
At 30 September 2017	904,000
At 1 October 2016	633,290

The historical cost of the freehold properties

included at valuation are as follows:

£

Cost

At 1 October 2016	45,580
At 30 September 2017	45,580
Net book amounts
At 30 September 2017	45,580
At 1 October 2016	45,680

	2017		2016
	----		----
	£		£
5. DEBTORS
Due within one year:
Other debtors	42,300		32,637

Included in other debtors is an overdrawn current account in respect of G & V Lewin. The liability under the loan at the beginning and end of the year respectively was £24,990 and £24,990. The maximum amount of the loan outstanding during the year was £24,990 .

	4.
G & V ESTATES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2017

	2017		2016
	----		----
	£		£
6. CREDITORS
Amounts falling due within one year:
Taxation and social security	1,854		1,503
Other creditors	236,983		235,783
	238,837		237,286

7. DEFERRED TAXATION

At 1 October 2016	95,674		95,674
Charged to profit and loss account	52,424		-
At 30 September 2017	148,098		95,674
8. CALLED UP SHARE CAPITAL

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 eachOrdinary	1		1

9. CONTROL

The company is a wholly owned subsidiary of MW Family Investments Limited a company registered in the United Kingdom.

10. IMPACT OF FIRST YEAR ADOPTION OF FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.