Glynfelin Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09903340

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

GLYNFELIN ESTATES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S R Lopez

Mrs S E B Lopez

REGISTERED OFFICE:

Glynfelin Longford Road

Dyffryn

Neath

SA10 7AX

REGISTERED NUMBER:

09903340

ACCOUNTANTS:

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Glynfelin Estates Limited for the year ended 31 December 2017 which

comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from

the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glynfelin Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glynfelin Estates Limited and state those matters that we have agreed to state to the Board of Directors of Glynfelin Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glynfelin Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glynfelin Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glynfelin Estates Limited. You consider that Glynfelin Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glynfelin Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

27 September 2018

FIXED ASSETS

Tangible assets

4

11,004

-

Investments

5

100,000

100,000

Investment property

6

888,960

888,960

999,964

988,960

CURRENT ASSETS

Debtors

7

185,959

184,895

Cash at bank

20,546

13,695

206,505

198,590

CREDITORS

Amounts falling due within one year

8

748,101

745,325

NET CURRENT LIABILITIES

(541,596

)

(546,735

)

TOTAL ASSETS LESS CURRENT LIABILITIES

458,368

442,225

CREDITORS

Amounts falling due after more than one year

9

389,479

413,820

NET ASSETS

68,889

28,405

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

68,789

28,305

SHAREHOLDERS' FUNDS

68,889

28,405

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 27 September 2018 and were signed on its behalf by:

S R Lopez - Director

1.	STATUTORY INFORMATION

Glynfelin Estates Limited is a private company, limited by shares , registered in Not specified/Other.

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.

Turnover

Turnover represents the fair value of rents received from the tenants of the company's properties,

excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment properties are shown at cost. The directors are aware that such properties should be

shown at fair value. However, given that at the balance sheet date relatively little time has elapsed

since the acquisition date, the directors are satisfied that the original cost and fair value would not

be significantly different. They have therefore adopted original cost as the fair value.

Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

13,755

At 31 December 2017

13,755

DEPRECIATION

Charge for year

2,751

At 31 December 2017

2,751

NET BOOK VALUE

At 31 December 2017

11,004

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2017

and 31 December 2017

100,000

NET BOOK VALUE

At 31 December 2017

100,000

At 31 December 2016

100,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

888,960

NET BOOK VALUE

At 31 December 2017

888,960

At 31 December 2016

888,960

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

(1,064

)

Amounts owed by associates

185,959

185,959

185,959

184,895

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

23,500

23,500

Amounts owed to associates

703,402

703,402

Taxation and social security

934

3,141

Other creditors

20,265

15,282

748,101

745,325

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

389,479

413,820

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

289,479

315,820

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

412,979

437,320

The bank loan is secured by a charge over the freehold property owned by the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

1

100

100

NIL

-

-

100

100