Table of contents
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Company information
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3
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Abridged balance sheet
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4
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Notes to the financial statements
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5
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2019 |
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2018 |
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Notes |
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£ |
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£ |
Fixed assets |
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Intangible assets |
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167,488
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167,488
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Property, plant and equipment |
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-
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-
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4
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167,488
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167,488
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Current assets |
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Debtors |
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134,314
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117,226
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Corporation tax receivable |
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-
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4,364
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Cash and cash equivalents |
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47,272
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59,262
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181,587
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180,852
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Current liabilities |
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Creditors: Amounts falling due within one year |
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(126,628)
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(136,585)
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(126,628)
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(136,585)
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Net current assets/(liabilities) |
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54,958
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44,267
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Total assets less current liabilities |
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222,446
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211,755
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Net assets/(liabilities) |
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222,446
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211,755
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Capital and reserves |
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Called up share capital |
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50,100
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50,100
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Retained earnings |
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172,346
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161,655
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Shareholder's funds |
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222,446
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211,755
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The notes on pages 7 to 12 are an integral part of these financial statements.
For the year ended 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
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These financial statements were approved by the Board of directors on 18 December 2019 and were signed on its behalf by:
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............................. |
(1) General Information
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GDMS SERVICES LONDON LIMITED is a private company limited by shares, domiciled and incorporated in England and Wales. Its registered office is Suite 4/15 a Margaret Powell House,401 - 447 Midsummer Boulevard,Central Milton Keynes,MK9 3BN. |
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(2) Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
a) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.
b) Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
d) Intangible fixed assets
Development costs
Development costs is stated at cost less accumulated depreciation and any accumulated impairment losses. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
e) Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from 'profit before tax' as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
f) Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
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(3) Employees
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During the year, the average number of employees including directors was [11] (2018 : [11] |
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(4) Fixed assets
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Intangible £
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Tangible £
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Totals £
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Cost
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As at 01 July 2018
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167,488
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1,800
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169,288
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As at 30 June 2019
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167,488
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1,800
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169,288
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Depreciation/Amortisation
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As at 01 July 2018
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-
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1,800
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1,800
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As at 30 June 2019
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-
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1,800
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1,800
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Net book value
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As at 30 June 2019
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167,488
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-
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167,488
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As at 30 June 2018
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167,488
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-
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167,488
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