Registered Number 05517412
GUSTO RESEARCH LIMITED
Abbreviated Accounts
31 July 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and the Financial Reporting Standard for Smaller Entities (effect 2015) (the FRSSE).
Cash flow statement
The company qualifies as a small company under the Companies Act 2006. The directors have elected to take advantage of the exemption under the FRSSE not to prepare a cash flow statement.
Turnover
Turnover represents amounts invoiced for goods and services net of VAT and under UITF 40 'Revenue Recognition and Service Contracts' work carried out but not yet invoiced is recognised as turnover to the extent that the company has obtained a right to consideration in exchange for its performance. These uninvoiced amounts are included in debtors as 'amounts recoverable on contracts'.
Amounts received in advance of work being carried out are shown as deferred income within creditors.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixtures & fittings 25% straight line basis
Computer equipment 33% straight line basis
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.
Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
£ | |
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Cost | |
At 1 August 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2016 |
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Depreciation | |
At 1 August 2015 |
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Charge for the year |
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On disposals |
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At 31 July 2016 |
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Net book values | |
At 31 July 2016 | 13,600 |
At 31 July 2015 | 25,688 |