For the year ended 31 March 2015
England and Wales
Registered Number: 03497646
Geetex Limited
For the year ended 31 March 2015
1
Balance Sheet
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Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
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Geetex Limited
For the year ended 31 March 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods supplied by the company, net of Value Added Tax and trade discounts.
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Tangible fixed assets, other than leasehold property, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Land and Buildings
Computer Equipment
No amortisation is provided on the company
'
s leasehold property since in the opinion of the director the expected
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useful life is sufficiently long and the estimated residual value is sufficiently high that any such amortisation would
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be immaterial
.
The director undertake an annual impairment review of this property
.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Notes to the Abbreviated Financial Statements
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Geetex Limited
For the year ended 31 March 2015
32,909
32,909
440
4
Charge for year
444
32,465
32,469
3
Fixed asset investments
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-
-
Allotted called up and fully paid
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2015
2014
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
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