Gibbs UK Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2017
The notes on pages 4 to 5 form part of these financial statements.
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles |
25% WDV
|
Computer Equipment |
33% WDV
|
1.4.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Tangible Assets
|
|
|
Motor Vehicles |
Computer Equipment |
Total |
|
£ |
£ |
£ |
Cost |
As at 1 April 2016
|
5,223
|
7,217
|
12,440
|
Additions |
-
|
535
|
535
|
|
|
|
|
As at 31 March 2017
|
5,223
|
7,752
|
12,975
|
|
|
|
|
Depreciation |
As at 1 April 2016
|
3,437
|
6,324
|
9,761
|
Provided during the period |
446
|
471
|
917
|
|
|
|
|
As at 31 March 2017
|
3,883
|
6,795
|
10,678
|
|
|
|
|
Net Book Value |
As at 31 March 2017
|
1,340
|
957
|
2,297
|
|
|
|
|
As at 1 April 2016
|
1,786
|
893
|
2,679
|
|
|
|
|
4.
Debtors
|
31 March 2017 |
|
Period to 31 March 2016 |
|
£ |
|
£ |
Due within one year |
|
|
|
|
Page 4
5.
Creditors: Amounts Falling Due Within One Year
|
31 March 2017 |
|
Period to 31 March 2016 |
|
£ |
|
£ |
Corporation tax |
6,379
|
|
5,877
|
Other taxes and social security |
5,945
|
|
798
|
VAT |
9,748
|
|
5,375
|
Directors' loan accounts |
30,225
|
|
13,854
|
|
|
|
|
|
52,297
|
|
25,904
|
|
|
|
|
6.
Share Capital
|
Value |
Number |
31 March 2017 |
|
Period to 31 March 2016 |
Allotted, called up and fully paid |
£ |
|
£ |
|
£ |
Ordinary shares
|
1
|
10
|
10
|
|
1
|
|
|
|
|
|
|
|
7.
Transactions With and Loans to Directors
Dividends paid to directors
8.
Dividends
|
31 March 2017 |
|
Period to 31 March 2016 |
|
£ |
|
£ |
On equity shares: |
Interim dividend paid |
28,000
|
|
40,000
|
|
|
|
|
|
28,000
|
|
40,000
|
|
|
|
|
9.
Controlling Party
The company's controlling party is Greg Gibbs by virtue of his ownership of 60 % of the issued share capital in the company.
The company's controlling party is Nicola Gibbs by virtue of his ownership of 40 % of the issued share capital in the company.