GENERAL DEVELOPMENT BANK LIMITED

GENERAL DEVELOPMENT BANK LIMITED

GENERAL DEVELOPMENT BANK LIMITED - Company Information

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Company Registration No. 06524409 (England and Wales)
GENERAL DEVELOPMENT BANK LIMITED Unaudited accounts for the year ended 31 March 2018
GENERAL DEVELOPMENT BANK LIMITED Unaudited accounts Contents
Page
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GENERAL DEVELOPMENT BANK LIMITED Company Information for the year ended 31 March 2018
Director
Abdelilah Malki
Company Number
06524409 (England and Wales)
Registered Office
120 REGENT STREET LONDON W1B 5FE UNITED KINGDOM
Accountants
Prime Accountants 8 Davenant Street London E1 5NB
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GENERAL DEVELOPMENT BANK LIMITED Accountants' report
Accountants' report to the director of GENERAL DEVELOPMENT BANK LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GENERAL DEVELOPMENT BANK LIMITED for the year ended 31 March 2018 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of GENERAL DEVELOPMENT BANK LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of GENERAL DEVELOPMENT BANK LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GENERAL DEVELOPMENT BANK LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GENERAL DEVELOPMENT BANK LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GENERAL DEVELOPMENT BANK LIMITED. You consider that GENERAL DEVELOPMENT BANK LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of GENERAL DEVELOPMENT BANK LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Prime Accountants 8 Davenant Street London E1 5NB 18 December 2018
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GENERAL DEVELOPMENT BANK LIMITED Statement of financial position as at 31 March 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
624 
780 
Investments
5
1,056,386 
1,056,386 
1,057,010 
1,057,166 
Current assets
Debtors
6
1,377,346 
1,384,965 
Cash at bank and in hand
506 
333 
1,377,852 
1,385,298 
Creditors: amounts falling due within one year
7
(1,472)
(1,471)
Net current assets
1,376,380 
1,383,827 
Total assets less current liabilities
2,433,390 
2,440,993 
Creditors: amounts falling due after more than one year
8
(1,270,667)
(1,280,214)
Net assets
1,162,723 
1,160,779 
Capital and reserves
Called up share capital
1,150,000 
1,150,000 
Profit and loss account
12,723 
10,779 
Shareholders' funds
1,162,723 
1,160,779 
For the year ending 31 March 2018 the company was entitled to exemption from audit 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 18 December 2018.
Abdelilah Malki Director Company Registration No. 06524409
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GENERAL DEVELOPMENT BANK LIMITED Notes to the Accounts for the year ended 31 March 2018
1
Statutory information
GENERAL DEVELOPMENT BANK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06524409. The registered office is 120 REGENT STREET, LONDON, W1B 5FE, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20%
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2017
3,720 
At 31 March 2018
3,720 
Depreciation
At 1 April 2017
2,940 
Charge for the year
156 
At 31 March 2018
3,096 
Net book value
At 31 March 2018
624 
At 31 March 2017
780 
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GENERAL DEVELOPMENT BANK LIMITED Notes to the Accounts for the year ended 31 March 2018
5
Investments
Other investments 
£ 
Valuation at 1 April 2017
1,056,386 
Valuation at 31 March 2018
1,056,386 
6
Debtors
2018 
2017 
£ 
£ 
Trade debtors
1,377,346 
1,381,408 
Other debtors
- 
3,557 
1,377,346 
1,384,965 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Taxes and social security
492 
1,472 
Other creditors
- 
(1)
Accruals
980 
- 
1,472 
1,471 
8
Creditors: amounts falling due after more than one year
2018 
2017 
£ 
£ 
Trade creditors
1,216,918 
1,223,924 
Other creditors
53,749 
56,248 
Deferred income
- 
42 
1,270,667 
1,280,214 
9
Average number of employees
During the year the average number of employees was 0 (2017: 0).
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