Graham Wells Limited - Filleted accounts
Graham Wells Limited - Filleted accounts
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2016 | 2015 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 2 | ||||||
Investments | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Investments held as current assets | 4 | - | |||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 7 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Houshang Khosrowpour | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Plant and machinery | 25% reducing balance method | |||||||
Foreign currency translation | ||||||||
2 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 September 2015 | ||||||||
At 31 August 2016 | ||||||||
Depreciation | ||||||||
At 1 September 2015 | - | |||||||
Charge for the year | ||||||||
At 31 August 2016 | ||||||||
Net book value | ||||||||
At 31 August 2016 | ||||||||
At 31 August 2015 | ||||||||
The director is of the opinion that the above amounts fairly represents the properties' market value as at 31st August 2016. | ||||||||
3 | Investments | |||||||
Investments in | ||||||||
subsidiary | Other | |||||||
undertakings | investments | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 September 2015 | 2,323,858 | 199,394 | 2,523,252 | |||||
Additions | - | 431,881 | 431,881 | |||||
Disposals | (500,000) | - | (500,000) | |||||
At 31 August 2016 | 1,823,858 | 631,275 | 2,455,133 | |||||
The market valuation of the Euro Bonds amounted to £2,013,091.37 as at 31st August 2016 as shown by LGT Bank Switzerland Ltd.'s valuation report. The market valuation of the Quoted Shares amounted to £555,659.76 as at 31st August 2016 as shown by LGT Bank Switzerland Ltd.'s valuation report. The investments are managed by professional fund managers and comprise of liquid assets and investments listed on recognised stock exchanges. |
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4 | Investments held as current assets | |||||||
2,016 | 2,015 | |||||||
£ | £ | |||||||
At 1 September 2015 | - | - | ||||||
Additions | 20,000 | - | ||||||
As 31 August 2016 | 20,000 | - | ||||||
Investments held as current assets comprise of unquoted preference shares in a property development company. | ||||||||
4 | Debtors | 2016 | 2015 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2016 | 2015 | |||||
£ | £ | |||||||
Accruals | ||||||||
Corporation tax | ||||||||
Director's loan | ||||||||
6 | Creditors: amounts falling due after one year | 2016 | 2015 | |||||
£ | £ | |||||||
Shareholder's loan | ||||||||
7 | Revaluation reserve | 2016 | 2015 | |||||
£ | £ | |||||||
At 1 September 2015 | ||||||||
At 31 August 2016 | ||||||||
9 | Transactions with Directors | |||||||
During the year, an additional development loan of £10,541 was made by the company to Denteez Limited, a company registered in England and connected with the director Mr Houshang Khosrowpour, totalling the amount of loans to £210,541. No specific provisions are made for interest calculations, repayment or conversion to shares yet. | ||||||||
10 | Related Party Transactions and Ultimate Control | |||||||
The company is controlled by Mrs Tamara Brovko through her 60% shareholdings. The balance due to Mrs Brovko as at balance sheet date amounted to £3,621,195. This balance was unsecured and interest free. During the year, the company paid Mrs M Khosrowpour, the company secretary, a sum of £12,000 (2015: £12,000) towards her bookkeeping and secretarial services. During the year the company paid £20,000 to Mr Alex Khosrowpour, the director's son, for his consultancy services in investment and property matters. |
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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 |