Gary G Bond Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06212478 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

Gary G Bond Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G G Bond

Mrs C J Bond

SECRETARY:

Mrs C J Bond

REGISTERED OFFICE:

30/31 St James Place

Mangotsfield

Bristol

South Glos.

BS16 9JB

REGISTERED NUMBER:

06212478 (England and Wales)

ACCOUNTANTS:

Copson Grandfield

30/31 St James Place

Mangotsfield

Bristol

South Glos.

BS16 9JB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

320

376

320

376

CURRENT ASSETS

Stocks

99,400

69,360

Debtors

6

20,100

28,546

119,500

97,906

CREDITORS

Amounts falling due within one year

7

95,195

73,445

NET CURRENT ASSETS

24,305

24,461

TOTAL ASSETS LESS CURRENT LIABILITIES

24,625

24,837

PROVISIONS FOR LIABILITIES

8

61

71

NET ASSETS

24,564

24,766

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,464

24,666

SHAREHOLDERS' FUNDS

24,564

24,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 21 January 2020 and were signed on its behalf by:

G G Bond - Director

1.	STATUTORY INFORMATION

Gary G Bond Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

34,000

AMORTISATION

At 1 June 2018

and 31 May 2019

34,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 June 2018

and 31 May 2019

1,182

DEPRECIATION

At 1 June 2018

806

Charge for year

56

At 31 May 2019

862

NET BOOK VALUE

At 31 May 2019

320

At 31 May 2018

376

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

20,100

28,156

Other debtors

-

390

20,100

28,546

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

20,089

15,128

Trade creditors

34,332

27,027

Taxation and social security

36,925

23,442

Other creditors

3,849

7,848

95,195

73,445

8.	PROVISIONS FOR LIABILITIES

31.5.19

31.5.18

£

£

Deferred tax

Accelerated capital allowances

61

71

Deferred

tax

£

Balance at 1 June 2018

71

Provided during year

(10

)

Balance at 31 May 2019

61

9.	ULTIMATE CONTROLLING PARTY