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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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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 YEAR ENDED 31 MARCH 2018 |
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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 YEAR ENDED 31 MARCH 2018 |
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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 YEAR ENDED 31 MARCH 2018 |
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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 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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BALANCE SHEET - continued |
31 MARCH 2018 |
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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
were 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 YEAR ENDED 31 MARCH 2018 |
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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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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 399(2A) of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements. |
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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. |
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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. |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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3. | FIXED ASSET INVESTMENTS |
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31.3.18 | 31.3.17 |
£ | £ |
Shares in group undertakings |
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Loans to group undertakings |
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Other investments not loans |
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Additional information is as follows: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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36 |
NET BOOK VALUE |
At 31 March 2018 |
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36 |
At 31 March 2017 |
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36 |
Loans to |
group |
undertakings |
£ |
At 1 April 2017 |
and 31 March 2018 |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other debtors |
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Directors' current accounts | - | 773,307 |
Called up share capital not paid |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Other creditors |
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Directors' current accounts | 3,694 | - |
Accruals and deferred income |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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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 | 224,681 | - |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
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. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the year ended 31 March 2018 and |
the period ended 31 March 2017: |
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31.3.18 | 31.3.17 |
£ | £ |
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Balance outstanding at start of year |
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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 year |
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GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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10. | 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 £210 and Gaamabase Limited made |
repayments of £2,000 to Globalhour Limited. A director's loan account balance of £331,000 was |
reassigned to Globalhour Limited from Gaamabase Limited. |
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In the year, no interest was charged on the outstanding loan balance. |
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31.3.18 | 31.3.17 |
£ | £ |
Amount due to related party at the balance sheet date | 167,813 | 500,603 |
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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 of £22,050 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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31.3.18 | 31.3.17 |
£ | £ |
Amount due to related party at the balance sheet date | 2,192,423 | 2,170,373 |
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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 no interest was charged on the outstanding balance. Konnexus Limited went into |
liquidation at 16 August 2018. The full amount due from Konnexus Limited is not expected to be |
recoverable and the balance of £160,000 has been written off. |
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31.3.18 | 31.3.17 |
£ | £ |
Amount due from related party at the balance sheet date | - | 160,000 |
GAAMABASE LIMITED (REGISTERED NUMBER: 08871154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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10. | RELATED PARTY DISCLOSURES - continued |
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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. |
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In the year, no interest was charged on the outstanding loan balance. |
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31.3.18 | 31.3.17 |
£ | £ |
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 there were no transactions between Gaamabase Limited and Jafna Holdings |
Limited. |
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In the year, no interest was charged on the outstanding loan balance. |
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31.3.18 | 31.3.17 |
£ | £ |
Amount due from related party at the balance sheet date | 1,056,195 | 1,056,195 |