Gerald Scarfe Limited - Period Ending 2014-06-30

Gerald Scarfe Limited - Period Ending 2014-06-30


Gerald Scarfe Limited 00797495 false true 2013-07-01 2014-06-30 2014-06-30 00797495 2013-07-01 2014-06-30 00797495 2014-06-30 00797495 uk-bus:OrdinaryShareClass1 2014-06-30 00797495 uk-bus:OrdinaryShareClass2 2014-06-30 00797495 uk-bus:Director1 2013-07-01 2014-06-30 00797495 uk-bus:OrdinaryShareClass1 2013-07-01 2014-06-30 00797495 uk-bus:OrdinaryShareClass2 2013-07-01 2014-06-30 00797495 uk-bus:EntityAccountantsOrAuditors 2013-07-01 2014-06-30 00797495 uk-gaap:LandBuildings 2013-07-01 2014-06-30 00797495 uk-gaap:PlantMachinery 2013-07-01 2014-06-30 00797495 2013-06-30 00797495 2013-06-30 00797495 uk-bus:OrdinaryShareClass1 2013-06-30 00797495 uk-bus:OrdinaryShareClass2 2013-06-30 iso4217:GBP xbrli:shares

Registration number: 00797495

Gerald Scarfe Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Jeremy Stewart, Chartered Accountants
Basepoint Centre
70 The Havens
70 The Havens
Ipswich
IP3 9BF

 

Gerald Scarfe Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gerald Scarfe Limited
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gerald Scarfe Limited for the year ended 30 June 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Gerald Scarfe Limited, as a body, in accordance with the terms of our engagement letterdated 26 September 2008. Our work has been undertaken solely to prepare for your approval the accounts of Gerald Scarfe Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gerald Scarfe Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gerald Scarfe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gerald Scarfe Limited. You consider that Gerald Scarfe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gerald Scarfe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jeremy Stewart, Chartered Accountants
Basepoint Centre
70 The Havens
70 The Havens
Ipswich
IP3 9BF

31 March 2015

 

Gerald Scarfe Limited
(Registration number: 00797495)
Abbreviated Balance Sheet at 30 June 2014

   

Note

   

2014
£

   

2013
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

403,346

   

414,960

 

Current assets

 

             

Debtors

 

   

176,076

   

137,396

 

Cash at bank and in hand

 

   

54,217

   

101,768

 
   

   

230,293

   

239,164

 

Creditors: Amounts falling due within one year

 

   

(155,859)

   

(179,014)

 

Net current assets

 

   

74,434

   

60,150

 

Total assets less current liabilities

 

   

477,780

   

475,110

 

Provisions for liabilities

 

   

(1,210)

   

(1,210)

 

Net assets

 

   

476,570

   

473,900

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

476,470

   

473,800

 

Shareholders' funds

 

   

476,570

   

473,900

 

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 March 2015 and signed on its behalf by:

.........................................
Mr Gerald Anthony Scarfe
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

Gerald Scarfe Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2.5% straight line

Plant and machinery

15% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined pension contributions scheme. The assets of the scheme are separate from those of the company in and independently administered fund.

 

Gerald Scarfe Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 July 2013

 

596,320

   

596,320

 

At 30 June 2014

 

596,320

   

596,320

 

Depreciation

           

At 1 July 2013

 

181,360

   

181,360

 

Charge for the year

 

11,614

   

11,614

 

At 30 June 2014

 

192,974

   

192,974

 

Net book value

           

At 30 June 2014

 

403,346

   

403,346

 

At 30 June 2013

 

414,960

   

414,960

 

3

Share capital

Allotted, called up and fully paid shares

 

2014

2013

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

70

   

70

   

70

   

70

 

Non-beneficial ordinary of £1 each

 

30

   

30

   

30

   

30

 
   

100

   

100

   

100

   

100