Registration number:
Glasshill Street Ltd
for the Period from 1 October 2015 to 31 March 2017
Glasshill Street Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Glasshill Street Ltd
Company Information
Directors |
Mr Christopher Denis Pollard Jan Kroes |
Registered office |
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Accountants |
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Glasshill Street Ltd
(Registration number: 9199510)
Balance Sheet as at 31 March 2017
Note |
2017 |
2015 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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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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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Non - distributable reserve |
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- |
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Profit and loss account |
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( |
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Total equity |
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( |
For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Glasshill Street Ltd
(Registration number: 9199510)
Balance Sheet as at 31 March 2017
Approved and authorised by the
.........................................
Mr Christopher Denis Pollard
Director
Page 3 |
Glasshill Street Ltd
Notes to the Financial Statements for the Period from 1 October 2015 to 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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Glasshill Street Ltd
Notes to the Financial Statements for the Period from 1 October 2015 to 31 March 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Investment properties |
2017 |
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At 1 October |
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Revaluation |
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At 31 March |
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Debtors |
2017 |
2015 |
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Other debtors |
- |
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Total current trade and other debtors |
- |
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Creditors |
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Glasshill Street Ltd
Notes to the Financial Statements for the Period from 1 October 2015 to 31 March 2017
Note |
2017 |
2015 |
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Due within one year |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2017 |
2015 |
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Non-current loans and borrowings |
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Other borrowings |
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The above loan is secured by way of a fixed charge on the company's property.
Related party transactions |
Summary of transactions with other related parties
Transactions with Directors
The balance due to the director Jan Kroes as at 31 March 2017 was £100,000 (2015 - £100,000). No interest was charged by the director to the company.
Transition to FRS 102 |
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