Company Registration No. 09499604 (England and Wales)
GATTEN SHOOT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
GATTEN SHOOT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GATTEN SHOOT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
48,839
22,882
Investments
4
3,000
-
51,839
22,882
Current assets
Debtors
5
25,369
23,835
Cash at bank and in hand
3,830
6,903
29,199
30,738
Creditors: amounts falling due within one year
6
(43,303)
(96,866)
Net current liabilities
(14,104)
(66,128)
Total assets less current liabilities
37,735
(43,246)
Creditors: amounts falling due after more than one year
7
(117,083)
-
Net liabilities
(79,348)
(43,246)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(79,448)
(43,346)
Total equity
(79,348)
(43,246)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
GATTEN SHOOT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 26 November 2018
Mr I K Fox
Director
Company Registration No. 09499604
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Gatten Shoot Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Hunters Cottage, Gatten, Pontesbury, Shrewsbury, Shropshire, SY5 0SJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown
gross
of VAT
, less VAT payable under a flat rate scheme.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2017 - 2).
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2017
31,887
Additions
38,167
At 31 March 2018
70,054
Depreciation and impairment
At 1 April 2017
9,005
Depreciation charged in the year
12,210
At 31 March 2018
21,215
Carrying amount
At 31 March 2018
48,839
At 31 March 2017
22,882
4
Fixed asset investments
2018
2017
£
£
Investments
3,000
-
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
12,889
12,890
Prepayments and accrued income
12,480
10,945
25,369
23,835
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
6
Creditors: amounts falling due within one year
2018
2017
Notes
£
£
Obligations under finance leases
5,000
-
Trade creditors
8,045
-
Other taxation and social security
23,980
15,115
Other creditors
4,448
75,611
Accruals and deferred income
1,830
6,140
43,303
96,866
7
Creditors: amounts falling due after more than one year
2018
2017
Notes
£
£
Obligations under finance leases
2,083
-
Other creditors
115,000
-
117,083
-
8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100