Company Registration No. 03975868 (England and Wales)
GLOBAL EXCHANGE TRADING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
GLOBAL EXCHANGE TRADING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
GLOBAL EXCHANGE TRADING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
228,552
230,141
Current assets
Debtors
953
1,990
Investments
72,000
72,000
Cash at bank and in hand
31,996
35,245
104,949
109,235
Creditors: amounts falling due within one year
(23,583)
(21,781)
Net current assets
81,366
87,454
Total assets less current liabilities
309,918
317,595
Creditors: amounts falling due after more than one year
3
(139,218)
(146,895)
170,700
170,700
Capital and reserves
Called up share capital
4
3
3
Other reserves
1
1
Profit and loss account
170,696
170,696
Shareholders' funds
170,700
170,700
GLOBAL EXCHANGE TRADING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2015
30 April 2015
- 2 -
For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 26 January 2016
Mr R Gilbert
Director
Company Registration No. 03975868
GLOBAL EXCHANGE TRADING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents commission and share of profits from dealing in derivatives contracts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Over the term of the lease (153 years)
Fixtures, fittings & equipment
33.33% straight line
1.5
Investments
Current asset investments are stated at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2014
358,886
Additions
5,183
At 30 April 2015
364,069
Depreciation
At 1 May 2014
128,745
Charge for the year
6,772
At 30 April 2015
135,517
Net book value
At 30 April 2015
228,552
At 30 April 2014
230,141
GLOBAL EXCHANGE TRADING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 4 -
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
106,818
114,495
The aggregate amount of creditors for which security has been given amounted to £147,318 (2014- £154,995).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3 Ordinary Shares of £1 each
3
3