Company Registration No. 07790128 (England and Wales)
GLOBAL DISPLAY PROJECTS (EUROPE) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
Faulkner House
Victoria Street
Rayner Essex LLP
St Albans
Chartered Accountants
Herts
AL1 3SE
GLOBAL DISPLAY PROJECTS (EUROPE) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GLOBAL DISPLAY PROJECTS (EUROPE) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,133
3,252
Current assets
Stocks
16,733
13,197
Debtors
115,643
132,823
Cash at bank and in hand
28,841
9,560
161,217
155,580
Creditors: amounts falling due within one year
(153,380)
(153,418)
Net current assets
7,837
2,162
Total assets less current liabilities
10,970
5,414
Provisions for liabilities
(626)
(650)
10,344
4,764
Capital and reserves
Called up share capital
3
10
10
Profit and loss account
10,334
4,754
Shareholders' funds
10,344
4,764
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.
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 24 October 2016
A R Pegram
Director
Company Registration No. 07790128
GLOBAL DISPLAY PROJECTS (EUROPE) LIMITED
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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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
25% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
3,597
Additions
858
At 31 May 2016
4,455
Depreciation
At 1 June 2015
345
Charge for the year
977
At 31 May 2016
1,322
Net book value
At 31 May 2016
3,133
At 31 May 2015
3,252
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of 10p each
10
10
GLOBAL DISPLAY PROJECTS (EUROPE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
4
Ultimate parent company
The company's ultimate controlling parent is Global Retail Associates Limited.