Garden City Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05065625 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

GARDEN CITY CONSULTANTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S J Spendelow

REGISTERED OFFICE:

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

05065625 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

4

22

212

CURRENT ASSETS

Debtors

5

56,350

56,573

Cash at bank

11,501

10,308

67,851

66,881

CREDITORS

Amounts falling due within one year

6

11,000

12,648

NET CURRENT ASSETS

56,851

54,233

TOTAL ASSETS LESS CURRENT LIABILITIES

56,873

54,445

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

56,871

54,443

SHAREHOLDERS' FUNDS

56,873

54,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 13 December 2018 and were signed by:

Mr S J Spendelow - Director

1.	STATUTORY INFORMATION

Garden City Consultants 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.

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.

The preparation of financial statements in conformity with FRS 102 Section 1A requires the use of certain critical

accounting estimates. It also requires management to exercise judgement in applying the company's accounting

policies.

ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, management were not required to make any estimates or judgements which

materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when

paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

TURNOVER

Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in

order to write off each asset over its estimated useful life.

Computer Equipment - 33.33% on straight line.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at

fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method, less any impairment.

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of

not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months

from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of

change in value.

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 April 2017

and 31 March 2018

570

Depreciation

At 1 April 2017

358

Charge for year

190

At 31 March 2018

548

Net book value

At 31 March 2018

22

At 31 March 2017

212

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

2,256

Director's loan account

44,766

41,979

S455 tax recoverable

11,528

11,528

VAT

56

-

Prepayments and accrued income

-

810

56,350

56,573

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

113

-

Corporation tax payable

9,935

8,352

Social security and other taxes

858

876

VAT

-

3,326

Accrued expenses

94

94

11,000

12,648

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 April 2017

54,443

Profit for the year

42,166

Dividends

(39,738

)

At 31 March 2018

56,871

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £39,738 (2017 - £37,374) were paid to the director .

At balance sheet date, there was an amount due from the director, Mr S J Spendelow for £44,766 (2017: £41,979).

This is an interest free advance from the company and does not have a fixed date of repayment.

10.	CONTROLLING PARTY

The controlling party is Mr S J Spendelow.