Registered Number 05200946
GRAHAM WELLS LIMITED
Abbreviated Accounts
31 August 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery: 25% reducing balance method
Other accounting policies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to profit and loss account.
£ | |
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Cost | |
At 1 September 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 August 2015 |
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Depreciation | |
At 1 September 2014 |
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Charge for the year |
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On disposals |
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At 31 August 2015 |
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Net book values | |
At 31 August 2015 | 1,449,537 |
At 31 August 2014 | 1,450,605 |
3Fixed assets Investments
The market valuation of Quoted Shares amounted to £395,249 as at 31st August 2015 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.
4Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 September 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | ||
Balance at 31 August 2015: | £ |
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 September 2014: | £ |
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Advances or credits made: | ||
Advances or credits repaid: | £ |
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Balance at 31 August 2015: | £ |
During the year, a development loan of £200,000 was made by the company to Denteez Limited, a company registered in England and connected with the director Mr Houshang Khosrowpour. No specific provisions are made for interest calculations, repayment period or conversion to shares yet.
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 amounted £3,681,040. This balance was unsecured and interest free.
During the year, the company paid Mrs M khosrowpour, the company secretary, a sum of £12,000 (2014: £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 investment and property consultancy services.