Company Registration No. 09594774 (England and Wales)
THE GAOL EVENTS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2016
THE GAOL EVENTS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
THE GAOL EVENTS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
5,865
Current assets
Stocks
1,875
Cash at bank and in hand
55
1,930
Creditors: amounts falling due within one year
(10,056)
Net current liabilities
(8,126)
Total assets less current liabilities
(2,261)
Capital and reserves
Called up share capital
3
2
Profit and loss account
(2,263)
Shareholders' funds
(2,261)
For the financial Period 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 Period 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 22 December 2016
Mr Justin Reffin
Director
Company Registration No. 09594774
THE GAOL EVENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 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).
During the period the company made a loss of £2263 and it's liabilities exceeded its assets by £2261.
Included within creditors are sums due to the directors of £6599.
The director's have signified their continuing support of the company and will not seek repayment of their directors' loan account until the company is in a financial position to do so. This coupled with an expectation of future profits has enabled the directors to prepare the accounts of the company on a going concern basis.
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:
Scrap motor vehicles for events zone
10% straight line
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
THE GAOL EVENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 18 May 2015
-
Additions
8,291
Disposals
(900)
At 31 March 2016
7,391
Depreciation
At 18 May 2015
-
Charge for the period
1,526
At 31 March 2016
1,526
Net book value
At 31 March 2016
5,865
3
Share capital
2016
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
During the year
2
ordinary shares of £
1
each were allotted and fully paid at par for cash consideration to provide additional working capital.