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Company registration number:08086465
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GREAT WALL (TEWKESBURY) LTD
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 May 2016
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GREAT WALL (TEWKESBURY) LTD |
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BALANCE SHEET |
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AS AT 31 May 2016
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2016 |
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2015 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS |
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Tangible assets |
2 |
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737
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867
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737
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867
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CURRENT ASSETS |
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Stocks |
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850
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600
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Debtors |
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7,538
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6,942
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Cash at bank and in hand |
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4,123
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8,515
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12,511
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16,057
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CREDITORS |
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Amounts falling due within one year |
(12,524) |
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(16,407) |
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NET CURRENT ASSETS |
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(13) |
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(350) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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724
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517
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PROVISIONS FOR LIABILITIES |
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(147) |
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(173) |
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NET ASSETS |
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577
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344
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CAPITAL AND RESERVES |
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Called-up equity share capital |
3 |
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100
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100
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Profit and loss account |
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477
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244
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SHAREHOLDERS FUNDS |
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577
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344
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For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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.......................................................................... |
Mr Yoke Chin
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9 November 2016
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The annexed notes form part of these financial statements. |
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GREAT WALL (TEWKESBURY) LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2016 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).
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Turnover |
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Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the
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Stocks and work In progress |
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Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
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Deferred taxation |
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The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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2. |
Tangible fixed assets |
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Total |
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Cost |
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At start of period |
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1,200
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At end of period |
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1,200
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Depreciation |
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At start of period |
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333
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Provided during the period |
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130
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At end of period |
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463
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Net Book Value |
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At start of period |
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867
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At end of period |
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737
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3. |
Share capital |
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Allotted, issued and fully paid
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2016 |
2015 |
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£ |
£ |
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Ordinary shares of £1 each
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100
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100
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Total issued share capital |
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100 |
100 |
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4. |
Ultimate controlling party |
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The company is controlled by Mr Yoke Chin.
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