John Galt Racing Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 09063472 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 30 May 2014 to 31 May 2015

for

JOHN GALT RACING LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs C Cortes Orjuela

Mr J P Orjuela

REGISTERED OFFICE:

Vennacott Farm

Blackdown, Nr Beaminster

Dorset

DT8 3LE

REGISTERED NUMBER:

09063472 (England and Wales)

FIXED ASSETS

Tangible assets

2

7,497

CURRENT ASSETS

Debtors

2,658

Cash at bank and in hand

2,292

4,950

CREDITORS

Amounts falling due within one year

46,229

NET CURRENT LIABILITIES

(41,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(33,782

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(33,882

)

SHAREHOLDERS' FUNDS

(33,782

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2015 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 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 Board of Directors on 24 February 2016 and were signed on its behalf by:

Mr J P Orjuela - 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).

Tangible fixed assets

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

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

8,819

At 31 May 2015

8,819

DEPRECIATION

Charge for period

1,322

At 31 May 2015

1,322

NET BOOK VALUE

At 31 May 2015

7,497

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

100

Share capital 1

1.00

100