GOLDEN DRAGON PROPERTIES LIMITED

GOLDEN DRAGON PROPERTIES LIMITED

GOLDEN DRAGON PROPERTIES LIMITED - Company Information

Print Friendly Version

GOLDEN DRAGON PROPERTIES LIMITED

Company Registration Number:
07038104 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

GOLDEN DRAGON PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

GOLDEN DRAGON PROPERTIES LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Fixed assets
Investments: 3 1,442,999 1,442,999
Total fixed assets: 1,442,999 1,442,999
Current assets
Debtors:   88,035 65,439
Cash at bank and in hand: 4,078,860 128,167
Total current assets: 4,166,895 193,606
Creditors: amounts falling due within one year:   (3,983,283) (80,635)
Net current assets (liabilities): 183,612 112,971
Total assets less current liabilities: 1,626,611 1,555,970
Total net assets (liabilities): 1,626,611 1,555,970
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,626,511 1,555,870
Shareholders funds: 1,626,611 1,555,970

The notes form part of these financial statements

GOLDEN DRAGON PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 March 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 December 2018
and signed on behalf of the board by:

Name: C Maughan
Status: Director

The notes form part of these financial statements

GOLDEN DRAGON PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Valuation and information policy

Investment property is carried at fair value reviewed annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Other accounting policies

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

GOLDEN DRAGON PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Employees

2018 2017
Average number of employees during the period 1 1

GOLDEN DRAGON PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Fixed investments

The 2018 valuations were made by C Maughan, the director, on an open market value for existing use basis.

GOLDEN DRAGON PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

4. Related party transactions

Name of the related party: C Maughan and companies under his control
Relationship:
Ultimate controlling party
Description of the Transaction: Included within other creditors is £3,922,140 (2017 - £15,104) due to C Maughan and companies under his control.
£
Balance at 01 April 2017 15,104
Balance at 31 March 2018 3,922,140