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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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GAAMABASE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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FOR |
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GAAMABASE LIMITED |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 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 | 4 |
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GAAMABASE LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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BALANCE SHEET |
31 MARCH 2017 |
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31.3.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS | ( |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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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. |
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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 for issue by the Board of Directors on
signed on its behalf by: |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Gaamabase Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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The financial statements are presented in sterling which is the functional currency of the company |
and rounded to the nearest pound. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year that the company has presented its financial statements under Financial |
Reporting Standard 102 (FRS102) issued by the financial reporting council. The last financial |
statements for the year ended 31 January 2016 were prepared under UK GAAP, and the transition |
date is therefore 1 February 2015. At the date of transition, no adjustments were required. |
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Turnover |
Other operating income is recognised in the income statement in the period in which it relates. |
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Preparation of consolidated financial statements |
The financial statements contain information about Gaamabase Limited as an individual company |
and do not contain consolidated financial information as the parent of a group. The company is |
exempt under Section 400 of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements as it and its subsidiary undertaking are included by full |
consolidation in the consolidated financial statements of its parent, , . |
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Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have |
had the most significant effect on amounts recognised in the financial statements. |
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There are no key assumptions concerning the future and other key sources of estimation uncertainty |
at the reporting date that have a significant risk of causing material adjustment to the carrying |
amounts of assets and liabilities within the next financial year. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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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Investment properties for which fair value can be measured reliably without undue cost or effort are |
measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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Investments |
Unlisted fixed asset investments are initially recognised at cost. Provision is made for any |
permanent diminution in value of unlisted investments. |
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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual |
arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is |
any contract that evidences a residual interest in the assets of the company after deducting all of its |
liabilities. The company's ordinary share capital is an equity instrument. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2016 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2016 |
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Additions |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 January 2016 |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.1.16 |
£ | £ |
Other debtors |
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Directors' current accounts | 773,307 | 822,157 |
Called up share capital not paid |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.1.16 |
£ | £ |
Corporation tax |
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Other creditors |
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Accruals and deferred income |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.1.16 |
value: | £ | £ |
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A Ordinary | 1 | 60 | 60 |
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B Ordinary | 1 | 60 | 60 |
120 | 120 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 February 2016 | ( |
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Deficit for the period | ( |
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At 31 March 2017 | ( |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the period ended 31 March 2017 |
and the year ended 31 January 2016: |
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31.3.17 | 31.1.16 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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11. | RELATED PARTY DISCLOSURES |
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Globalhour Limited |
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A company in which Asif Khan is director and shareholder. |
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During the year Globalhour Limited loaned monies totalling £11,953 and made repayments of |
£1,350 to Gaamabase Limited. In the year, no interest was charged on the outstanding loan balance. |
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31.3.17 | 31.1.16 |
£ | £ |
Amount due to related party at the balance sheet date | 500,603 | 490,000 |
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Unioak Limited |
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A company in which Asif Khan is director/shareholder. |
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The increase in the loan account balance relates to the reassignment of a directors' loan account |
balance originally held within Unioak Limited. |
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In the year, no interest was charged on the outstanding loan balance. |
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31.3.17 | 31.1.16 |
£ | £ |
Amount due to related party at the balance sheet date | 2,170,373 | 1,814,580 |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2016 TO 31 MARCH 2017 |
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11. | RELATED PARTY DISCLOSURES - continued |
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Konnexus Limited |
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A company in which Asif Khan is director/shareholder. |
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During the year Gaamabase Limited loaned monies totalling £30,000 and received payments of |
£2,000 from Konnexus Limited. In the year, no interest was charged on the outstanding loan |
balance. |
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31.3.17 | 31.1.16 |
£ | £ |
Amount due from related party at the balance sheet date | 160,000 | 132,000 |
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Nageena Limited |
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A company in which Asif Khan is director/shareholder. |
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During the year there were no transactions between Gaamabase Limited and Nageena Limited. In |
the year, no interest was charged on the outstanding loan balance. |
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31.3.17 | 31.1.16 |
£ | £ |
Amount due from related party at the balance sheet date | 330,000 | 330,000 |
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Jafna Holdings Limited |
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Subsidiary company |
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During the year Mr A Khan assigned monies due to him from Jafna Holdings Limited totalling |
£1,056,195 to the company. In the year, no interest was charged on the outstanding loan balance. |
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31.3.17 | 31.1.16 |
£ | £ |
Amount due from related party at the balance sheet date | 1,056,195 | - |
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Mr A Khan |
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A directors' loan account balance of £333,793 originally held in Unioak Limited was reassigned to the |
company. |