Company Registration No. 06585966 (England and Wales)
GOLD SAFFRON LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
GOLD SAFFRON LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
GOLD SAFFRON LTD
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
46
Current assets
Debtors
8,250
24,510
Cash at bank and in hand
1,605
3,000
9,855
27,510
Creditors: amounts falling due within one year
(5,635)
(23,599)
Net current assets
4,220
3,911
Total assets less current liabilities
4,220
3,957
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
4,120
3,857
Shareholders' funds
4,220
3,957
For the financial year ended 31 May 2016 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 her 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 for issue on 13 February 2017
Y Othman
Director
Company Registration No. 06585966
GOLD SAFFRON LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Computer equipment
3 years straight line method
1.4
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
936
Depreciation
At 1 June 2015
890
Charge for the year
46
At 31 May 2016
936
Net book value
At 31 May 2016
At 31 May 2015
46
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100