Company Registration No. 8670467 (England and Wales)
Cartwright Gwalia Properties Limited
Unaudited accounts
for the year ended 31 August 2018
Cartwright Gwalia Properties Limited
Unaudited accounts
Contents
Cartwright Gwalia Properties Limited
Company Information
for the year ended 31 August 2018
Directors
Geoffrey Thomas Cartwright
Janet Margaret Cartwright
Lucy Georgina Lightfoot
Lauren Elizabeth Richards
Company Number
8670467 (England and Wales)
Registered Office
Whiteacre
Glasllwch Lane
Newport
NP20 3PS
United Kingdom
Accountants
The Wright Advice Ltd
Cartwright Gwalia Properties Limited
Statement of financial position
as at
31 August 2018
Investment property
633,765
425,500
Cash at bank and in hand
7,809
15,231
Creditors: amounts falling due within one year
(526,477)
(302,376)
Net current liabilities
(495,235)
(287,145)
Total assets less current liabilities
138,530
143,126
Provisions for liabilities
Deferred tax
(27,000)
(27,000)
Net assets
111,530
116,126
Called up share capital
1,000
1,000
Profit and loss account
110,530
115,126
Shareholders' funds
111,530
116,126
For the year ending 31 August 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 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 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 7 January 2019.
Geoffrey Thomas Cartwright
Director
Company Registration No. 8670467
Cartwright Gwalia Properties Limited
Notes to the Accounts
for the year ended 31 August 2018
Cartwright Gwalia Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 8670467. The registered office is Whiteacre, Glasllwch Lane, Newport, NP20 3PS, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover from the sale of properties and rental income received excluding Value Added Tax.
Investment property is included in the accounts at the valuation of the directors unless the property is not fully developed. Undeveloped properties are valued at original cost plus development expenses to date.
Any additional ongoing costs on investment properties after development are charged to the profit and loss account.
Gains on revaluation and sale are recognised in the income statement.
Deferred taxation is provided when a property is revalued at the prevailing corporation tax rate.
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:
Land & buildings
10% straight line
Cartwright Gwalia Properties Limited
Notes to the Accounts
for the year ended 31 August 2018
4
Tangible fixed assets
Land & buildings
Cost or valuation
At cost
At 1 September 2017
6,817
At 1 September 2017
2,046
5
Investment property
2018
Fair value at 1 September 2017
425,500
At 31 August 2018
633,765
Fully developed investment properties were revalued in August 2017. All other investment properties are valued at cost.
7
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
3,133
3,193
Loans from directors
519,780
298,128
8
Average number of employees
During the year the average number of employees was 4 (2017: 4).