Golden Sands Properties Limited - Period Ending 2015-04-30

Registration number: 07045049

Golden Sands Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2015
 

Fuller & Roper (Accountants) Limited
Chartered Accountants
The Counting House
13a Church Farm Business Pk
Corston
Bath
BA2 9AP

Golden Sands Properties Limited
Contents

Company Information 1

Director's Report 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5 to 7

Golden Sands Properties Limited
Company Information

Director

C L Small

Company secretary

J S Fuller

Registered office

The Counting House 13a Church Farm Business Pk Corston Bath BA2 9AP

Accountants

Fuller & Roper (Accountants) Limited Chartered Accountants The Counting House 13a Church Farm Business Pk Corston Bath BA2 9AP

Page 1

Golden Sands Properties Limited
Director's Report for the Year Ended 30 April 2015

The director presents her report and the unaudited financial statements for the year ended 30 April 2015.

Director of the company

The director who held office during the year was as follows:

C L Small

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 6 January 2016 and signed on its behalf by:

.........................................
C L Small
Director

Page 2

Golden Sands Properties Limited
Profit and Loss Account for the Year Ended 30 April 2015

		Note			2015 €			2014 €
Turnover					-			-
Operating profit/(loss)					-			-
Amounts written off investments					(70,333)			(11,729)
Loss on ordinary activities before taxation					(70,333)			(11,729)
Loss for the financial year					(70,333)			(11,729)

The notes on pages 5 to 7 form an integral part of these financial statements.
Page 3

Golden Sands Properties Limited
(Registration number: 07045049)
Balance Sheet at 30 April 2015

		Note			2015 €			2014 €
Fixed assets
Investments		2			1,283,281			1,340,812
Creditors: Amounts falling due after more than one year		3			(1,403,630)			(1,390,828)
Net liabilities					(120,349)			(50,016)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(120,350)			(50,017)
Shareholders' deficit					(120,349)			(50,016)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 6 January 2016

.........................................
C L Small
Director

The notes on pages 5 to 7 form an integral part of these financial statements.
Page 4

Golden Sands Properties Limited
Notes to the Financial Statements for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

The financial statements have been prepared on a going concern basis which is deemed appropriate in light of the continuing support of the shareholder.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Investments held as fixed assets

		2015 €			2014 €
Shares in group undertakings and participating interests		1,036,650			1,106,983
Loans to group undertakings and participating interests		246,631			233,829
		1,283,281			1,340,812

Page 5

Golden Sands Properties Limited
Notes to the Financial Statements for the Year Ended 30 April 2015
......... continued

Shares in group undertakings and participating interests

		Subsidiary undertakings €			Total €
Cost
At 1 May 2014		1,157,000			1,157,000
At 30 April 2015		1,157,000			1,157,000
Provision for impairment
At 1 May 2014		50,017			50,017
Charge for the year		70,333			70,333
At 30 April 2015		120,350			120,350
Net book value
At 30 April 2015		1,036,650			1,036,650
At 30 April 2014		1,106,983			1,106,983

Loans to group undertakings and participating interests

		Subsidiary undertakings €			Total €
At 1 May 2014		233,829			233,829
Additions		12,802			12,802
At 30 April 2015		246,631			246,631

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Four Chesnuts S.L.	Spain	Ordinary	100%	Property holding company

Page 6

Golden Sands Properties Limited
Notes to the Financial Statements for the Year Ended 30 April 2015
......... continued

The financial period end of Four Chesnuts S.L. is 31 December 2014. The loss for the financial period of Four Chesnuts S.L. was €70,333 and the aggregate amount of capital and reserves at the end of the period was (€1,036,650).

3	Creditors: Amounts falling due after more than one year

		2015 €			2014 €
Other creditors		1,403,630			1,390,828

  Included in the creditors are the following amounts due after more than five years:
 

		2015 €			2014 €
After more than five years not by instalments		1,403,630			1,390,828

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			€			No.			€
Ordinary of £ 1 each		1			1			1			1

Page 7