Goldmart Limited - Period Ending 2016-11-30

Registration number: 01864050

Goldmart Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 30 November 2016

J P Walters & Co
Chartered Accountants
67 Duke Street
Darlington
Co Durham
DL3 7SD

Goldmart Limited

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 4

Goldmart Limited

(Registration number: 01864050)
Abbreviated Balance Sheet as at 30 November 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets	2	526,475	502,375
Investments	2	1,959,293	1,898,015
		2,485,768	2,400,390
Current assets
Stocks		493,581	427,783
Debtors		151,709	155,323
Cash at bank and in hand		759,165	604,532
		1,404,455	1,187,638
Prepayments and accrued income		11,248	11,359
Creditors: Amounts falling due within one year		(283,804)	(240,130)
Net current assets		1,131,899	958,867
Total assets less current liabilities		3,617,667	3,359,257
Creditors: Amounts falling due after more than one year		(200,214)	(200,214)
Accruals and deferred income		(16,737)	(21,702)
Net assets		3,400,716	3,137,341
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		3,399,716	3,136,341
Shareholders funds		3,400,716	3,137,341

For the year ending 30 November 2016 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 May 2017 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Goldmart Limited

(Registration number: 01864050)
Abbreviated Balance Sheet as at 30 November 2016

.........................................
Mr L P G Wall-Row
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Goldmart Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	2% on cost
Fixtures & fittings	20% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Fixed asset investments

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

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 1 December 2015	674,287	1,898,015	2,572,302
Additions	37,976	61,278	99,254
At 30 November 2016	712,263	1,959,293	2,671,556

Page 3

Goldmart Limited

Notes to the Abbreviated Accounts

	Tangible assets £	Investments £	Total £
Depreciation
At 1 December 2015	171,912	-	171,912
Charge for the year	13,876	-	13,876
At 30 November 2016	185,788	-	185,788
Net book value
At 30 November 2016	526,475	1,959,293	2,485,768
At 30 November 2015	502,375	1,898,015	2,400,390

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

4

Control

The company is controlled by L P G Wall-Row. The company is owned 50% by the director, Mr L P G Wall-Row, and 50% by Northeastern Finance Limited, a company in which the director has a 99% shareholding.

Page 4