REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31ST JULY 2015 |
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FOR |
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G.B. ANTIQUES LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31ST JULY 2015 |
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FOR |
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G.B. ANTIQUES LIMITED |
G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST JULY 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
G.B. ANTIQUES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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ABBREVIATED BALANCE SHEET |
31ST JULY 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
4 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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ABBREVIATED BALANCE SHEET - continued |
31ST JULY 2015 |
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The financial statements were approved by the Board of Directors on
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G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST JULY 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
The goodwill aquired several years ago has been written off in full to the profit and loss account. |
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Tangible fixed assets |
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Buildings | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Going concern |
Despite the Company's balance sheet showing net liabilities at the year end , the accounts have been prepared on |
a going concern basis, which the director believes to be appropriate, having considered the next twelve months |
and the foreseeable future. |
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Part of the year end creditors relates to an amount payable to another group undertaking totalling £468,091. The |
directors have given their support to the company and will not seek repayment of this amount until the company |
is in a position to make this payment without hindering its cash flow requirements. |
G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST JULY 2015 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1st August 2014 |
and 31st July 2015 |
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AMORTISATION |
At 1st August 2014 |
and 31st July 2015 |
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NET BOOK VALUE |
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At 31st July 2015 |
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At 31st July 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1st August 2014 |
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Additions |
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Disposals | ( |
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At 31st July 2015 |
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DEPRECIATION |
At 1st August 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st July 2015 |
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NET BOOK VALUE |
At 31st July 2015 |
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At 31st July 2014 |
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4. | CREDITORS |
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Creditors include an amount of £
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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G.B. ANTIQUES LIMITED (REGISTERED NUMBER: 02496107) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST JULY 2015 |
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6. | RELATED PARTY DISCLOSURES |
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The company occupies premises owned by GB Properties (Lancaster) Limited a company under the common |
control of the directors. During the year GB Antiques Limited was charged £99,100 (2014: £99,100) by GB |
Properties (Lancaster) Limited for rental of these premises. At the year end £510,239 (2014: £468,091) remained |
outstanding. The company also received £28,000 (2012: £28,000) as management charges from GB Properties |
(Lancaster) Limited during the year. |
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The company also has a loan account with GB Properties (Lancaster) Limited and "other debtors" include |
£370,783 (2014: £340,095). |
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All transactions with the companies under common control of the directors of GB Antiques Limited have been |
undertaken for commercial reasons on an arms length basis. |