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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2017 |
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GAIL 1 LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2017 |
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FOR |
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GAIL 1 LIMITED |
GAIL 1 LIMITED (REGISTERED NUMBER: 08450575) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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GAIL 1 LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31ST MARCH 2017 |
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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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13 - 17 Hursley Road |
Chandlers Ford |
Eastleigh |
SO53 2FW |
GAIL 1 LIMITED (REGISTERED NUMBER: 08450575) |
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BALANCE SHEET |
31ST MARCH 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 10 |
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Retained earnings |
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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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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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GAIL 1 LIMITED (REGISTERED NUMBER: 08450575) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Gail 1 Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents income derived from the company's principal activity and is stated net of value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Transition to financial reporting standard 102 section 1a |
As a result of the transition to Section 1A of Financial Reporting Standard 102 it has been necessary to provide |
for deferred taxation on the revaluation of freehold investment property. This has reduced the fair value reserve |
as 1 April 2016 by £43,116. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st April 2016 |
and 31st March 2017 |
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DEPRECIATION |
At 1st April 2016 |
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Charge for year |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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GAIL 1 LIMITED (REGISTERED NUMBER: 08450575) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2016 |
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Additions |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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6. | DEBTORS |
31.3.17 | 31.3.16 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to associates | - | 1,500 |
Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
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Amounts owed to associates | 216,911 | 68,000 |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 228,485 | 85,355 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
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The Bank of Cyprus holds a charge over two of the companies investment properties. |
GAIL 1 LIMITED (REGISTERED NUMBER: 08450575) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2017 |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st April 2016 |
and 31st March 2017 |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is S L Evans. |