Company Registration No. 06865902 (England and Wales)
G S INTERNATIONAL TRUCKS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
G S INTERNATIONAL TRUCKS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
G S INTERNATIONAL TRUCKS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
15,157
18,025
Current assets
Stocks
388,825
442,965
Debtors
38,838
51,827
Cash at bank and in hand
157,096
92,114
584,759
586,906
Creditors: amounts falling due within one year
(181,233)
(156,687)
Net current assets
403,526
430,219
Total assets less current liabilities
418,683
448,244
Provisions for liabilities
(2,706)
(3,627)
415,977
444,617
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
414,977
443,617
Shareholders' funds
415,977
444,617
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 1 July 2016
Mr G Schoop
Miss N Podmore
Director
Director
Company Registration No. 06865902
G S INTERNATIONAL TRUCKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful life of 5 years.
1.4
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:
Plant and machinery
15% per annum of net book value
Computer and office equipment
25% per annum of net book value
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015 and at 31 March 2016
200,000
41,211
241,211
Depreciation
At 1 April 2015
200,000
23,186
223,186
Charge for the year
-
2,868
2,868
At 31 March 2016
200,000
26,054
226,054
Net book value
At 31 March 2016
-
15,157
15,157
At 31 March 2015
-
18,025
18,025
G S INTERNATIONAL TRUCKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000