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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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GAQ Investments Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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for |
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GAQ Investments Limited |
GAQ Investments Limited (Registered number: 09606984) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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GAQ Investments Limited |
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Company Information |
for the Year Ended 31 May 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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GAQ Investments Limited (Registered number: 09606984) |
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Statement of Financial Position |
31 May 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GAQ Investments Limited (Registered number: 09606984) |
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Statement of Financial Position - continued |
31 May 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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GAQ Investments Limited (Registered number: 09606984) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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GAQ Investments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis, on the understanding that continued |
financial support will be forthcoming from the director for a period in excess of twelve months from the approval |
date of these accounts. |
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Turnover |
Turnover represents rental income from investment properties, excluding value added tax. Rental income is |
recognised on a calendar basis. |
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Investment property |
Investment property is included at most recent valuation. Any aggregate surplus or deficit arising from changes |
in the fair value of the property is recognised in the income statement. |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at transaction price |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
GAQ Investments Limited (Registered number: 09606984) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
COST |
Additions |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Trade creditors |
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Other creditors |
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Amounts owed to related companies | 40,200 | 40,200 |
Director's current account | 3,324 | - |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Bank loans due in more than 5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans due in more than 5 years | 201,249 | - |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.5.17 | 31.5.16 |
£ | £ |
Bank loans |
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The above amount is secured by way of a mortgage charge over the company's investment property. |
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9. | FIRST YEAR ADOPTION |
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These are the first financial statements that comply with FRS 102 section 1A - small entities. The date of |
transition is 1 June 2016. No material transitional changes were made in the reconciliation of equity and the |
income statement. |