GLYN GARTH COURT FLATS LTD - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 00833514 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31ST MAY 2014

FOR

GLYN GARTH COURT FLATS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C Hand

Miss M J Webster

A W Nash

SECRETARY:

B D Moran

REGISTERED OFFICE:

Secretary's Office

Glyn Garth Court

Glyn Garth

Menai Bridge

Sir Fon

LL59 5PB

REGISTERED NUMBER:

00833514 (England and Wales)

ACCOUNTANTS:

J Emyr Thomas & Co

The Old Police Station

Gaerwen

Anglesey

LL60 6BL

FIXED ASSETS

Tangible assets

2

739

694

CURRENT ASSETS

Stocks

393

397

Debtors

120

-

Cash at bank and in hand

54,011

50,175

54,524

50,572

CREDITORS

Amounts falling due within one year

5,145

6,178

NET CURRENT ASSETS

49,379

44,394

TOTAL ASSETS LESS CURRENT LIABILITIES

50,118

45,088

CAPITAL AND RESERVES

Called up share capital

3

38

38

Reserve fund

45,962

39,137

Profit and loss account

4,118

5,913

SHAREHOLDERS' FUNDS

50,118

45,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26th January 2015 and were signed on its behalf by:

C Hand - Director

Miss M J Webster - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover is the total amount receivable by the company for the services rendered, expenses incurred in the

maintenance of the flats and capital expenses incurred

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

The company is the holder of the land and buildings at Glyn Garth Court.The property was conveyed to the

company by the original developer in exchange for the issue of shares in the company . In turn the developer sold

the shares in the company to each individual lessee in consideration of the granting of a 999 year lease in respect

of each flat. When a flat is sold the corresponding share in the company is sold and the lease is assigned to a new

lessee so that the lessee of each flat is a member and shareholder of the company. The directors are therefore of

the opinion that the value the company attaches to its interest in the property is nominal and that the asset should

be regarded as the property of the thirty eight individual shareholders and lessees.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

4,387

Additions

230

At 31st May 2014

4,617

DEPRECIATION

At 1st June 2013

3,693

Charge for year

185

At 31st May 2014

3,878

NET BOOK VALUE

At 31st May 2014

739

At 31st May 2013

694

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

38

Ordinary shares

£1

38

38

4.	ULTIMATE PARENT COMPANY

Ultimate control is held by a majority of shareholders