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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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G.T.T. DEVELOPMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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G.T.T. DEVELOPMENTS LIMITED |
G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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G.T.T. DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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Chartered Accountant |
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G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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BALANCE SHEET |
31 MARCH 2016 |
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31/3/16 | 31/3/15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Profit and loss account | 9 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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BALANCE SHEET - continued |
31 MARCH 2016 |
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The financial statements were approved by the director on
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G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
At the balance sheet date, the company was showing net current liabilities. The director believes the going concern |
policy is correct. |
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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 |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period |
of the lease. |
G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
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2. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
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AMORTISATION |
At 1 April 2015 |
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Amortisation for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2015 |
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Disposals |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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4. | STOCKS |
31/3/16 | 31/3/15 |
£ | £ |
Raw materials |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/16 | 31/3/15 |
£ | £ |
Trade debtors | 440 | - |
G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/16 | 31/3/15 |
£ | £ |
Trade creditors |
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VAT |
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Other creditors |
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Credit card | 931 | 455 |
Directors' current accounts | 8,383 | - |
Accrued expenses | 1,295 | 900 |
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7. | PROVISIONS FOR LIABILITIES |
31/3/16 | 31/3/15 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
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Balance at 1 April 2015 |
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Credit to Profit and Loss Account during year | ( |
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Balance at 31 March 2016 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/16 | 31/3/15 |
value: | £ | £ |
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Ordinary | £1 |
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9. | RESERVES |
Profit |
and loss |
account |
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At 1 April 2015 |
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Deficit for the year | ( |
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At 31 March 2016 |
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10. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, the company owed the director and shareholder, Mr G Schmid, £8,383 (2015 : £8,465). |
G.T.T. DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04539641) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is the director Mr G T T Schmid, by virtue of his 100% shareholding. |