Company Registration No. 03379174 (England and Wales)
GILBRAN (MANAGEMENT) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
GILBRAN (MANAGEMENT) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GILBRAN (MANAGEMENT) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
10,901
14,259
Investments
2
903,138
888,647
914,039
902,906
Current assets
Debtors
895,292
10,355,707
Cash at bank and in hand
432,081
195,068
1,327,373
10,550,775
Creditors: amounts falling due within one year
(97,502)
(16,607,127)
Net current assets/(liabilities)
1,229,871
(6,056,352)
Total assets less current liabilities
2,143,910
(5,153,446)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
2,143,908
(5,153,448)
Shareholders' funds
2,143,910
(5,153,446)
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 October 2016
N Smith
Director
Company Registration No. 03379174
GILBRAN (MANAGEMENT) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements have been prepared on a going concern basis notwithstanding that the company has a net deficiency of asset
s
at the balance sheet date. The preparation of the financial statements on any other basis would reflect substantially the same position as at balance sheet date.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents management fees receivable from fellow subsidiaries.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
20% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 November 2014 & at 31 October 2015
92,635
903,138
995,773
Depreciation
At 1 November 2014
78,377
-
78,377
Charge for the year
3,357
-
3,357
At 31 October 2015
81,734
-
81,734
Net book value
At 31 October 2015
10,901
903,138
914,039
At 31 October 2014
14,259
888,647
902,906
GILBRAN (MANAGEMENT) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Ultimate parent company
The company is a wholly owned subsidiary of Gilbran Holdings Limited. The ultimate controlling party is N Smith, the director.