GLODEN LIMITED

Company Registration Number:
03123994 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2017

Period of accounts

Start date: 01 January 2017

End date: 31 December 2017

GLODEN LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2017

Balance sheet
Notes

GLODEN LIMITED

Balance sheet

As at 31 December 2017


Notes
2017
2016


£
£
Fixed assets
Intangible assets: 3 0 4,769
Tangible assets: 4 1,327,291 1,045,964
Investments: 5 4,004 4,004
Total fixed assets: 1,331,295 1,054,737
Current assets
Stocks: 111,814 112,955
Debtors:   618,748 856,297
Cash at bank and in hand: 34,641 67,058
Total current assets: 765,203 1,036,310
Creditors: amounts falling due within one year:   (675,846) (671,947)
Net current assets (liabilities): 89,357 364,363
Total assets less current liabilities: 1,420,652 1,419,100
Creditors: amounts falling due after more than one year: 6 (167,024) (196,699)
Provision for liabilities: (42,943) (28,273)
Total net assets (liabilities): 1,210,685 1,194,128
Capital and reserves
Called up share capital: 1,000,000 1,000,000
Profit and loss account: 210,685 194,128
Shareholders funds: 1,210,685 1,194,128

The notes form part of these financial statements

GLODEN LIMITED

Balance sheet statements

For the year ending 31 December 2017 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 July 2018
and signed on behalf of the board by:

Name: Christian Priess
Status: Director

The notes form part of these financial statements

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Freehold property - 2% straight lineLong leasehold property - 10% straight linePlant and machinery - 10% straight lineMotor Vehicles - 22.5% to 25% straight line

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

2. Employees

2017 2016
Average number of employees during the period 122 122

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

3. Intangible Assets

Total
Cost £
At 01 January 2017 4,769
Disposals (4,769)
At 31 December 2017 0
Net book value
At 31 December 2017 0
At 31 December 2016 4,769

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

4. Tangible Assets

Total
Cost £
At 01 January 2017 3,013,106
Additions 566,751
Disposals (43,821)
At 31 December 2017 3,536,036
Depreciation
At 01 January 2017 1,967,142
Charge for year 265,307
On disposals (23,704)
At 31 December 2017 2,208,745
Net book value
At 31 December 2017 1,327,291
At 31 December 2016 1,045,964

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

5. Fixed investments

CostAt 1 January 2017 and 31 December 2017 4,004 --------Impairment At 1 January 2017 and 31 December 2017 - --------Carrying amountAt 31 December 2017 4,004 -------

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

6. Creditors: amounts falling due after more than one year note

Included in bank loans and overdraft is a bank loan secured against a freehold property owned by the company.

GLODEN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

7. Related party transactions

The ultimate parent undertaking is Drawstorm Corporation Limited. The company is related to Gloden Properties Limited, a company which it wholly owns. The company is related to Justin Tanning Limited, a company which it wholly owns.