Global I P Solutions Group Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07341919 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended

31 August 2014

for

GLOBAL I P SOLUTIONS GROUP LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Certified Accountants' Report

5

DIRECTOR:

Ms E L Hughes

REGISTERED OFFICE:

8 Eastway

Sale

Cheshire

M33 4DX

REGISTERED NUMBER:

07341919 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Tangible assets

2

26,889

14,858

CURRENT ASSETS

Debtors

16,383

65,758

Cash at bank

102

5,169

16,485

70,927

CREDITORS

Amounts falling due within one year

42,299

73,296

NET CURRENT LIABILITIES

(25,814

)

(2,369

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,075

12,489

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

1,074

12,488

SHAREHOLDERS' FUNDS

1,075

12,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 May 2015 and were signed by:

Ms E L Hughes - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax, except in respect of service contracts where

turnover is recognised when the company obtains the right to consideration.

A sale is recognised when the goods have been despatched to clients, which is the point at which the risks and rewards of

ownership pass to the customer and therefore revenue recognised.

Tangible fixed assets

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

Computer equipment

-

33% on cost

The company carries tangible fixed assets in the balance sheet using the depreciated historic cost method.

Financial instruments

Financial Instruments are classified and accounted for according to the substance of the transaction as either a financial

asset, liability or equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of

the company after all liabilities have been deducted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

26,471

Additions

26,888

At 31 August 2014

53,359

DEPRECIATION

At 1 September 2013

11,613

Charge for year

14,857

At 31 August 2014

26,470

NET BOOK VALUE

At 31 August 2014

26,889

At 31 August 2013

14,858

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2014 and 31 August 2013:

31.8.14

31.8.13

£

£

Ms E L Hughes

Balance outstanding at start of year

(9,998

)

(8,721

)

Amounts advanced

-

3,520

Amounts repaid

(260

)

(4,797

)

Balance outstanding at end of year

(10,258

)

(9,998

)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Global I P Solutions Group Ltd for the year ended 31 August 2014 which comprise the Profit and Loss Account, the

Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of Global I P Solutions Group Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global I P Solutions Group Ltd and state those matters that we have agreed to state to the director of Global I P Solutions Group Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Global I P Solutions Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Global I P Solutions Group Ltd. You consider that Global I P Solutions Group Ltd 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 financial statements of Global I P Solutions Group Ltd. 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 financial statements.

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

Date: .............................................