GRAHAM WELLS LIMITED - Filleted accounts

GRAHAM WELLS LIMITED - Filleted accounts


Registered number
05200946
GRAHAM WELLS LIMITED
Filleted Accounts
31 August 2018
GRAHAM WELLS LIMITED
Registered number: 05200946
Balance Sheet
as at 31 August 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 1,313 1,641
Investments 3 2,991,319 3,068,233
2,992,632 3,069,874
Current assets
Debtors 4 29,632 265,060
Cash at bank and in hand 161,282 236,988
190,914 502,048
Creditors: amounts falling due within one year 5 (18,186) (19,156)
Net current assets 172,728 482,892
Total assets less current liabilities 3,165,360 3,552,766
Creditors: amounts falling due after more than one year 6 (2,619,582) (2,754,895)
Net assets 545,778 797,871
Capital and reserves
Called up share capital 100,000 100,000
Revaluation reserve 7 328,859 334,381
Profit and loss account 116,919 363,490
Shareholders' funds 545,778 797,871
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Houshang Mark Khosrowpour
Director
Approved by the board on 23 April 2019
GRAHAM WELLS LIMITED
Notes to the Accounts
for the year ended 31 August 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2017 6,339
At 31 August 2018 6,339
Depreciation
At 1 September 2017 4,698
Charge for the year 328
At 31 August 2018 5,026
Net book value
At 31 August 2018 1,313
At 31 August 2017 1,641
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 September 2017 2,172,096 896,137 3,068,233
Additions 548,452 - 548,452
Revaluation - (29,064) (29,064)
Disposals (596,302) - (596,302)
At 31 August 2018 2,124,246 867,073 2,991,319
4 Debtors 2018 2017
£ £
Amounts owed by undertakings in which the director has a participating interest - 234,875
Other debtors 29,632 30,185
29,632 265,060
5 Creditors: amounts falling due within one year 2018 2017
£ £
Taxation and social security costs 15,103 17,936
Other creditors 3,083 1,220
18,186 19,156
6 Creditors: amounts falling due after one year 2018 2017
£ £
Shareholder's loan 2,619,582 2,754,895
7 Revaluation reserve 2018 2017
£ £
At 1 September 2017 334,381 302,790
Deferred taxation arising on the revaluation of land and buildings (5,522) 31,591
At 31 August 2018 328,859 334,381
8 Other information
GRAHAM WELLS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
3 Oldfield Mews, Highgate, London, N6 5XA
Highgate
London
N6 5XA
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