Gamart Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01632855 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Gamart Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

G J Frost

M J Frost

Secretary:

G J Frost

Registered office:

Fremnells

Hawkswood Road

Downham

Billericay

Essex

CM11 1JT

Registered number:

01632855 (England and Wales)

Accountants:

D Fisher LLP

Fremnells

Hawkswood Road

Downham

Essex

CM11 1JT

FIXED ASSETS

Tangible assets

3

38,094

44,817

Investment property

4

1,810,409

1,810,409

1,848,503

1,855,226

CURRENT ASSETS

Debtors

5

4,948

609

Cash at bank and in hand

132,853

95,425

137,801

96,034

CREDITORS

Amounts falling due within one year

6

20,326

19,164

NET CURRENT ASSETS

117,475

76,870

TOTAL ASSETS LESS CURRENT LIABILITIES

1,965,978

1,932,096

CREDITORS

Amounts falling due after more than one year

7

200,879

200,879

NET ASSETS

1,765,099

1,731,217

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Other reserves

(293,184

)

(293,184

)

Retained earnings

2,057,283

2,023,401

1,765,099

1,731,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 April 2019 and were signed on its behalf by:

G J Frost - Director

1.	STATUTORY INFORMATION

Gamart Properties Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 etc

-

15% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2018

and 31 December 2018

58,152

Depreciation

At 1 January 2018

13,335

Charge for year

6,723

At 31 December 2018

20,058

Net book value

At 31 December 2018

38,094

At 31 December 2017

44,817

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 January 2018

and 31 December 2018

1,810,409

Net book value

At 31 December 2018

1,810,409

At 31 December 2017

1,810,409

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

4,272

-

Other debtors

676

609

4,948

609

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Taxation and social security

9,525

11,288

Other creditors

10,801

7,876

20,326

19,164

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed to associates

200,879

200,879