REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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GEMVIEW LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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GEMVIEW LIMITED |
GEMVIEW LIMITED (REGISTERED NUMBER: 01914159) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
GEMVIEW LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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GEMVIEW LIMITED (REGISTERED NUMBER: 01914159) |
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ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
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2015 | 2014 |
Notes | $ | $ | $ | $ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the director on
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GEMVIEW LIMITED (REGISTERED NUMBER: 01914159) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
2015). |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Foreign currencies |
The Financial Statements are expressed in US dollars. Additions to fixed assets in foreign currencies are |
translated into US dollars at the date of the transaction. Assets and liabilities in foreign currencies are translated |
into US dollars at the rates of exchange ruling at the balance sheet date. Revenue transactions in foreign |
currencies are translated into US dollars at the average rate of exchange in the accounting year. Exchange |
differences are taken into account in arriving at the operating result. |
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Turnover |
Turnover represents rent receivable. |
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Depreciation |
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful |
lives. |
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Industrial buildings 4% straight line |
Land nil |
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2. | TANGIBLE FIXED ASSETS |
Total |
$ |
COST |
At 1 January 2015 |
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Additions |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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GEMVIEW LIMITED (REGISTERED NUMBER: 01914159) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST OR VALUATION |
At 1 January 2015 | 4,622,720 |
Revaluations | (457,024 | ) |
Reclassification/transfer | (3,774,324 | ) |
At 31 December 2015 | 391,372 |
NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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Loans |
$ |
Share of profit/(loss) | 3,774,324 |
At 31 December 2015 | 3,774,324 |
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Included in the fixed asset investments are listed investments of £391,372 (2014: £455,747) and loans granted of |
£3,774,324 (2014: £4,166,973). |
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The loans were granted to Lagova properties Limited (related party) and bear interest according to the terms of |
the short-term bank loans received, with no financial repayment schedule. |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | $ | $ |
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Ordinary | 1.5 |
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5. | ENGAGEMENTS |
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The company signed an asset management agreement with Lagova (related party) and a general management |
agreement with Sackstein Management Limited (related party). The directors of those companies mentioned |
above are the company's representatives in Israel. |