Grilseco Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 02815523 (England and Wales)

Abbreviated Accounts for the Year Ended 31 December 2013

for

Grilseco Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S S Gill

Mrs S K Gill

B S Gill

REGISTERED OFFICE:

Unit 20-21

Cam Centre,

Wilbury Way

Hitchin

Hertfordshire

SG4 0AP

REGISTERED NUMBER:

02815523 (England and Wales)

ACCOUNTANTS:

Fitzgerald Mithia Springer Limited

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Tangible assets

2

841

1,121

Investment property

3

3,624,780

3,201,814

3,625,621

3,202,935

CURRENT ASSETS

Debtors

15,367

65,390

Cash at bank

95,199

36,151

110,566

101,541

CREDITORS

Amounts falling due within one year

69,705

44,558

NET CURRENT ASSETS

40,861

56,983

TOTAL ASSETS LESS CURRENT LIABILITIES

3,666,482

3,259,918

CREDITORS

Amounts falling due after more than one year

4

3,209,159

3,158,297

NET ASSETS

457,323

101,621

CAPITAL AND RESERVES

Called up share capital

5

2

2

Revaluation reserve

366,117

23,117

Profit and loss account

91,204

78,502

SHAREHOLDERS' FUNDS

457,323

101,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 5 September 2014 and were signed on its behalf by:

S S Gill - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents property sold and rent receivable during the year.

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

Investment property

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting

Standard for Smaller Entities (effective April 2008). Such properties are held for their investment potential and

not for consumption within the business. This is a departure from the Companies Act 2006 which requires all

properties to be depreciated, but is preferred by the directors in order for the financial statements to give a true

and fair view.

Investment properties are stated at their market value at 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

17,000

DEPRECIATION

At 1 January 2013

15,879

Charge for year

280

At 31 December 2013

16,159

NET BOOK VALUE

At 31 December 2013

841

At 31 December 2012

1,121

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2013

3,201,814

Additions

79,966

Revaluations

343,000

At 31 December 2013

3,624,780

NET BOOK VALUE

At 31 December 2013

3,624,780

At 31 December 2012

3,201,814

4.

CREDITORS

Creditors include an amount of £ 3,209,159 (31.12.12 - £ 3,158,297 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.13

31.12.12

£

£

Repayable otherwise than by instalments

3,128,205

3,068,105

Repayable by instalments

80,954

90,192

3,209,159

3,158,297

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

2

Ordinary

£1

2

2