Glenbeigh Model Agency Limited - Period Ending 2018-11-30

Glenbeigh Model Agency Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2018

Registration number: 04600072

Glenbeigh Model Agency Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Glenbeigh Model Agency Limited

Balance Sheet

30 November 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	-	1,697
Current assets
Cash at bank and in hand		896	896
Creditors: Amounts falling due within one year	5	(31,718)	(31,718)
Net current liabilities		(30,822)	(30,822)
Net liabilities		(30,822)	(29,125)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(30,922)	(29,225)
Total equity		(30,822)	(29,125)

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Glenbeigh Model Agency Limited

Balance Sheet

30 November 2018

For the financial year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 July 2019 and signed on its behalf by:
 

......................................... Mr C J Rogers Company secretary and director

......................................... Mrs J S Rogers Director

Company Registration Number: 04600072

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Glenbeigh Model Agency Limited

Notes to the Financial Statements

Year Ended 30 November 2018

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Elizabeth Court
Whimple Street
Plymouth
PL1 2DH

These financial statements were authorised for issue by the Board on 22 July 2019.

2	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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	15% reducing balance basis

Page 3

Glenbeigh Model Agency Limited

Notes to the Financial Statements

Year Ended 30 November 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged,

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2017 - 3).

Page 4

Glenbeigh Model Agency Limited

Notes to the Financial Statements

Year Ended 30 November 2018

4	Tangible assets

	Furniture, fittings and equipment  £
Cost or valuation
At 1 December 2017	16,360
Disposals	(16,360)
At 30 November 2018	-
Depreciation
At 1 December 2017	14,663
Eliminated on disposal	(14,663)
At 30 November 2018	-
Carrying amount
At 30 November 2018	-
At 30 November 2017	1,697

5

Creditors

Creditors: amounts falling due within one year

	2018  £	2017  £
Due within one year
Amounts due to group undertakings	31,718	31,718

Page 5

Glenbeigh Model Agency Limited

Notes to the Financial Statements

Year Ended 30 November 2018

6	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7	Parent and ultimate parent undertaking

The company's immediate parent is Glenbeigh Group Ltd, incorporated in England and Wales.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.

 

Page 6