Aberdeen Glow Investment Limited
Filleted Accounts
for the year ended 30 September 2017
Aberdeen Glow Investment Limited
Registered number: 03859162
Balance Sheet
as at 30 September 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 390 520
Current assets
Cash at bank and in hand 515 3,055
Creditors: amounts falling due within one year 3 (344,833) (353,401)
Net current liabilities (344,318) (350,346)
Net liabilities (343,928) (349,826)
Capital and reserves
Called up share capital 100 100
Profit and loss account (344,028) (349,926)
Shareholder's funds (343,928) (349,826)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Goh
Director
Approved by the board on 28 June 2018
Aberdeen Glow Investment Limited
Notes to the Accounts
for the year ended 30 September 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2016 925
At 30 September 2017 925
Depreciation
At 1 October 2016 405
Charge for the year 130
At 30 September 2017 535
Net book value
At 30 September 2017 390
At 30 September 2016 520
3 Creditors: amounts falling due within one year 2017 2016
£ £
Other creditors 344,833 353,401
4 Other information
Aberdeen Glow Investment Limited is a private company limited by shares and incorporated in England. Its registered office is:
Battle House
1 East Barnet Road
New Barnet
Hertfordshire
EN4 8RR
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