Company Registration No. 05320527 (England and Wales)
GEORGIAN HOUSE COLLECTABLES LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
GEORGIAN HOUSE COLLECTABLES LIMITED
COMPANY INFORMATION
Director
A M Connelly
Company number
05320527
Registered office
Europa House
Goldstone Villas
Hove
East Sussex
BN3 3RQ
Accountants
Victor Boorman & Co
Europa House
Goldstone Villas
Hove
East Sussex
BN3 3RQ
Business address
68A Old Shoreham Road
Hove
East Sussex
BN3 6GF
GEORGIAN HOUSE COLLECTABLES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
GEORGIAN HOUSE COLLECTABLES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
36,400
37,100
Cash at bank and in hand
3,664
22
40,064
37,122
Creditors: amounts falling due within one year
3
(38,326)
(37,035)
Net current assets
1,738
87
Capital and reserves
Called up share capital
4
1
1
Profit and loss reserves
1,737
86
Total equity
1,738
87
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 29 September 2017
A M Connelly
Director
Company Registration No. 05320527
GEORGIAN HOUSE COLLECTABLES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2015
1
3,383
3,384
Year ended 31 December 2015:
Loss and total comprehensive income for the year
-
(3,297)
(3,297)
Balance at 31 December 2015
1
86
87
Year ended 31 December 2016:
Profit and total comprehensive income for the year
-
1,651
1,651
Balance at 31 December 2016
1
1,737
1,738
GEORGIAN HOUSE COLLECTABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
1
Accounting policies
Company information
Georgian House Collectables Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Europa House, Goldstone Villas, Hove, East Sussex, BN3 3RQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
These financial statements for the year ended 31 December 2016
are the
first
financial statements of Georgian House Collectables Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from the sale of goods is recognised when the
goods have been physically delivered to the customer.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
3 years straight line
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
1.5
Financial instruments
The company has the following basic financial instruments:
- Short term debtors and creditors.
Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
GEORGIAN HOUSE COLLECTABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 4 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016 and 31 December 2016
766
Depreciation and impairment
At 1 January 2016 and 31 December 2016
766
Carrying amount
At 31 December 2016
-
At 31 December 2015
-
3
Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
38,326
37,035
4
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1
1
1