Caseware UK (AP4) 2016.0.181 2016.0.181 2018-08-312018-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseproperty investmentfalse2017-09-01 00382274 2017-09-01 2018-08-31 00382274 2018-08-31 00382274 2017-08-31 00382274 c:Director2 2017-09-01 2018-08-31 00382274 d:FurnitureFittings 2017-09-01 2018-08-31 00382274 d:FurnitureFittings 2018-08-31 00382274 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-09-01 2018-08-31 00382274 d:ComputerEquipment 2017-09-01 2018-08-31 00382274 d:FreeholdInvestmentProperty 2018-08-31 00382274 d:FreeholdInvestmentProperty 2017-08-31 00382274 d:FreeholdInvestmentProperty 2 2017-09-01 2018-08-31 00382274 d:CurrentFinancialInstruments 2018-08-31 00382274 d:CurrentFinancialInstruments 2017-08-31 00382274 d:CurrentFinancialInstruments d:WithinOneYear 2018-08-31 00382274 d:CurrentFinancialInstruments d:WithinOneYear 2017-08-31 00382274 d:ShareCapital 2018-08-31 00382274 d:ShareCapital 2017-08-31 00382274 d:CapitalRedemptionReserve 2018-08-31 00382274 d:CapitalRedemptionReserve 2017-08-31 00382274 d:RetainedEarningsAccumulatedLosses 2018-08-31 00382274 d:RetainedEarningsAccumulatedLosses 2017-08-31 00382274 d:AcceleratedTaxDepreciationDeferredTax 2018-08-31 00382274 d:OtherDeferredTax 2018-08-31 00382274 d:OtherDeferredTax 2017-08-31 00382274 c:FRS102 2017-09-01 2018-08-31 00382274 c:AuditExempt-NoAccountantsReport 2017-09-01 2018-08-31 00382274 c:FullAccounts 2017-09-01 2018-08-31 00382274 c:PrivateLimitedCompanyLtd 2017-09-01 2018-08-31 iso4217:GBP xbrli:pure

Registered number: 00382274













C GABRIEL LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

 
C GABRIEL LIMITED
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 
C GABRIEL LIMITED
REGISTERED NUMBER:00382274

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
  
819
-

Investment property
 5 
3,500,000
2,200,000

  
3,500,819
2,200,000

Current assets
  

Debtors: amounts falling due within one year
 6 
2,917
2,917

Bank and cash balances
  
295,074
299,998

  
297,991
302,915

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(75,779)
(73,639)

Net current assets
  
 
 
222,212
 
 
229,276

Total assets less current liabilities
  
3,723,031
2,429,276

Provisions for liabilities
  

Deferred tax
 8 
(487,540)
(242,867)

Net assets
  
3,235,491
2,186,409


Capital and reserves
  

Called up share capital 
 9 
41,950
41,950

Capital redemption reserve
 10 
14,500
14,500

Profit and loss account
 10 
3,179,041
2,129,959

  
3,235,491
2,186,409


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
C GABRIEL LIMITED
REGISTERED NUMBER:00382274
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2018

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2018.


J Hayes
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

1.


General information

C Gabriel Limited is a limited liability company incorporated in England and Wales with its registered office at 57 Palace Gardens, Buckhurst Hill, Essex, IG9 5PQ.
The principal activity of the Company is that of property rental.
The functional and presentational currency of the Company is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises rent receivable net of Value Added Tax. Rent is recognised in the period to which it relates.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Page 3

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Page 4

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2018
        2017
            No.
            No.







Directors
2
2

Page 5

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


Additions
1,229



At 31 August 2018

1,229



Depreciation


Charge for the year on owned assets
410



At 31 August 2018

410



Net book value



At 31 August 2018
819



At 31 August 2017
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2017
2,200,000


Surplus on revaluation
1,300,000



At 31 August 2018
3,500,000

The 2018 valuations were made by the directors, on an open market value for existing use basis.



Page 6

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

6.


Debtors

2018
2017
£
£


Prepayments and accrued income
2,917
2,917



7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Taxation and social security
39,011
36,871

Other creditors
12,218
12,218

Accruals and deferred income
24,550
24,550

75,779
73,639



8.


Deferred taxation




2018


£






At beginning of year
242,867


Charged to profit or loss
244,673



At end of year
487,540

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
737
-

Fair value adjustments
486,803
242,867

487,540
242,867

Page 7

 
C GABRIEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

9.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



41,950 (2017 - 41,950) Ordinary shares of £1.00 each
41,950
41,950



10.


Reserves

Profit and loss account

Included in profit and loss account reserves are non-distributable fair value adjusments of £2,884,759 (2017 - £1,828,696).

 
Page 8