Gowerlane Limited - Accounts to registrar (filleted) - small 18.2
Gowerlane Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period |
| 1 January 2017 to 31 May 2018 |
| for |
| Gowerlane Limited |
| Gowerlane Limited (Registered number: 03685131) |
| Contents of the Financial Statements |
| for the Period 1 January 2017 to 31 May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Gowerlane Limited |
| Company Information |
| for the Period 1 January 2017 to 31 May 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 203, 2nd Floor |
| China House |
| 401 Edgware Road |
| London |
| NW2 6GY |
| Gowerlane Limited (Registered number: 03685131) |
| Balance Sheet |
| 31 May 2018 |
| 31.5.18 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve |
| Retained earnings |
| The director acknowledges his 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. |
| Gowerlane Limited (Registered number: 03685131) |
| Balance Sheet - continued |
| 31 May 2018 |
| 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 |
| Gowerlane Limited (Registered number: 03685131) |
| Notes to the Financial Statements |
| for the Period 1 January 2017 to 31 May 2018 |
| 1. | STATUTORY INFORMATION |
| Gowerlane Limited is a |
| 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, and in accordance with the accounting policies set |
| out below. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. Rent receivable from investment |
| property is recognised over the period of rental and, income from management charges are recognised as the |
| services are provided. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| 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", investment properties are included |
| at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the |
| rate expected to apply when the property is sold. |
| Taxation |
| Taxation for the period 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 period 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. |
| Gowerlane Limited (Registered number: 03685131) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 31 May 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Trade debtors |
| Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are |
| written off when identified. Specific provisions are made against debts whose recovery is considered doubtful. |
| Provisions and accruals |
| Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
| the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 May 2018 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for period |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 December 2016 |
| Gowerlane Limited (Registered number: 03685131) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 31 May 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2017 |
| and 31 May 2018 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for period |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 December 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2017 |
| Revaluations | 953,685 |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 December 2016 |
| During the year, Colliers International carried out property valuations on four of the investment properties owned |
| by the company and valued these upwards by £953,685. |
| In the opinion of the director, the market value of the property at the balance sheet date was £6,380,988 on an |
| open market basis. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| Gowerlane Limited (Registered number: 03685131) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 31 May 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Tenant deposits | 33,068 | 38,946 |
| Other creditors | - | 4,911 |
| Pensions payable | 808 | 288 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Bank loans (see note 9) |
| Hire purchase contracts |
| Bank loans | - | 928,219 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst | 928,693 | - |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Bank loans | 928,693 | 928,219 |
| Oaknorth Bank Limited holds fixed and floating charges over Gowerlane Limited. The floating charge covers all |
| of the property or undertaking of the company. The charges also contain a negative pledge. |
| Gowerlane Limited (Registered number: 03685131) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 31 May 2018 |
| 11. | PROVISIONS FOR LIABILITIES |
| 31.5.18 | 31.12.16 |
| £ | £ |
| Deferred tax | 509,557 | 221,026 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2017 |
| Provided during period |
| Balance at 31 May 2018 |