Gainsborough Business Space Ltd - Limited company - abbreviated

REGISTERED NUMBER: 02201481

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

GAINSBOROUGH BUSINESS SPACE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

K F Ellis

Mrs H L G Hunt

SECRETARY:

K F Ellis

REGISTERED OFFICE:

The Estate Office

Egginton Hall, Church Road

Egginton

DERBY

DE65 6HP

REGISTERED NUMBER:

02201481

ACCOUNTANTS:

Smith Cooper Limited

Chartered Accountants

St.Helens House

King Street

Derby

DE1 3EE

FIXED ASSETS

Tangible assets

2

1,507,533

1,531,979

Investments

3

70,000

-

1,577,533

1,531,979

CURRENT ASSETS

Debtors

335,929

336,288

Cash at bank

-

54,733

335,929

391,021

CREDITORS

Amounts falling due within one year

313,509

71,693

NET CURRENT ASSETS

22,420

319,328

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,599,953

1,851,307

CREDITORS

Amounts falling due after more than one
year

-

280,000

NET ASSETS

1,599,953

1,571,307

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

1,599,853

1,571,207

SHAREHOLDERS' FUNDS

1,599,953

1,571,307

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 26 February 2015 and were signed on
its behalf by:

Mrs H L G Hunt - 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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

1,549,189

Additions

724

Disposals

(40,546

)

At 31 May 2014

1,509,367

DEPRECIATION

At 1 June 2013

17,210

Charge for year

5,301

Eliminated on disposal

(20,677

)

At 31 May 2014

1,834

NET BOOK VALUE

At 31 May 2014

1,507,533

At 31 May 2013

1,531,979

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

70,000

At 31 May 2014

70,000

NET BOOK VALUE

At 31 May 2014

70,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2014 and

31 May 2013:

2014

2013

£

K F Ellis

Balance outstanding at start of year

226

-

Amounts advanced

16,607

226

Amounts repaid

(270,500

)

-

Balance outstanding at end of year

(253,667

)

226

6.	RELATED PARTY DISCLOSURES

During the year financial assistance was provided to Gainsborough Leisure Limited, of which Mr K F
Ellis and Mrs S Ellis are both directors and shareholders. The amount outstanding at the year end was
£265,257. (2013: £265,257)

Financial assistance was also provided to UKD Diggers Limited during the year, of which K F Ellis is
sole director. The amount outstanding at the year end was £65,428. (2013: £65,428)

Both of these amounts are included in other debtors.

Gainsborough Business Space Ltd - Limited company - abbreviated - 11.6

Gainsborough Business Space Ltd - Limited company - abbreviated - 11.6