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Company registration number:07511702
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GERALD LOW & COMPANY LIMITED
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2016
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GERALD LOW & COMPANY LIMITED |
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BALANCE SHEET |
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AS AT 31 March 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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Intangible assets |
2 |
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30,000
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36,000
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Tangible assets |
3 |
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23,407
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4,265
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53,407
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40,265
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CURRENT ASSETS |
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Debtors |
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19,335
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12,982
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Cash at bank and in hand |
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8,229
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9,534
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27,564
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22,516
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CREDITORS |
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Amounts falling due within one year |
(96,632) |
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(65,423) |
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NET CURRENT ASSETS |
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(69,068) |
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(42,907) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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(15,661) |
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(2,642) |
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NET ASSETS |
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(15,661) |
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(2,642) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
4 |
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100
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100
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Profit and loss account |
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(15,761) |
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(2,742) |
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SHAREHOLDERS FUNDS |
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(15,661) |
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(2,642) |
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For the year ending 31 March 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 directors acknowledge their 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 financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Approved by the board of directors on 28 December 2016 and signed on its behalf.
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.......................................................................... |
G Low
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28 December 2016
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The annexed notes form part of these financial statements. |
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GERALD LOW & COMPANY LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 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 April 2008).
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Turnover |
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Intangible assets |
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Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.
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Fixed assets |
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Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and machinery 15% reducing balance basis Motor vehicles 25% reducing balance basis
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2. |
Intangible fixed assets |
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Total |
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Cost |
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At start of period |
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60,000
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At end of period |
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60,000
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Amortisation |
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At start of period |
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24,000
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Provided during the period |
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6,000
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At end of period |
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30,000
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Net Book Values |
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At start of period |
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36,000
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At end of period |
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30,000
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3. |
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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8,988
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Additions |
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23,410
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At end of period |
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32,398
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Depreciation |
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At start of period |
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4,723
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Provided during the period |
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4,268
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At end of period |
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8,991
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Net Book Value |
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At start of period |
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4,265
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At end of period |
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23,407
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4. |
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
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100
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5. |
Ultimate controlling party |
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In the opinion of the Directors Mr G Low who holds 100% of the shares of Gerald Low & Company Limited is the company's ultimate controller.
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