GAN_YACHAD_LIMITED - Accounts

GAN YACHAD LIMITED - Company Information

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Company Registration No. 04125426 (England and Wales)

GAN YACHAD LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

GAN YACHAD LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

GAN YACHAD LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

253

337

Current assets

Debtors

3,223

4,907

Cash at bank and in hand

3,615

3,014

6,838

7,921

Creditors: amounts falling due within one year

(7,350)

(10,840)

Net current liabilities

(512)

(2,919)

Total assets less current liabilities

(259)

(2,582)

Provisions for liabilities

(50)

(68)

(309)

(2,650)

Capital and reserves

Called up share capital

Profit and loss account

(310)

(2,651)

Shareholders' funds

(309)

(2,650)

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 September 2014

R. Ross

Director

Company Registration No. 04125426

GAN YACHAD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The director believes that the company will be able to operate within the facility currently agreed and that the company will be able to return to profitability. However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

1.2

Turnover

Turnover represents fees receivable during the year.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% Reducing balance

1.5

Deferred taxation

The accounting policy in respect of deferred tax reflects the requirements of FRS19 - Deferred tax. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2013 & at 31 December 2013

3,500

4,716

8,216

Depreciation

At 1 January 2013

3,500

4,379

7,879

Charge for the year

At 31 December 2013

3,500

4,463

7,963

Net book value

At 31 December 2013

253

At 31 December 2012

337

GAN YACHAD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 4 -

Share capital

2013

2012

Allotted, called up and fully paid

1 Ordinary shares of £1 each

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Loan

4,907

(4,907)

New loan

3,500

(277)

3,223

4,907

3,500

(5,184)

3,223

The current loan was repaid by September 2014.