Galegate Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07391168 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Galegate Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S Minns

SECRETARY:

REGISTERED OFFICE:

King Street

Sancton

East Yorkshire

YO43 4QP

REGISTERED NUMBER:

07391168 (England and Wales)

ACCOUNTANTS:

Andrew Cooper & Company

Chartered Accountants

650 Anlaby Road

Kingston upon Hull

East Yorkshire

HU3 6UU

FIXED ASSETS

Tangible assets

2

3,261

4,077

CURRENT ASSETS

Debtors

300

100

Cash at bank and in hand

60,733

57,360

61,033

57,460

CREDITORS

Amounts falling due within one year

43,333

32,235

NET CURRENT ASSETS

17,700

25,225

TOTAL ASSETS LESS CURRENT
LIABILITIES

20,961

29,302

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

20,957

29,298

SHAREHOLDERS' FUNDS

20,961

29,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 27 June 2016 and were signed by:

S Minns - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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 etc

-

20% on reducing balance

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

At 1 October 2014

and 30 September 2015

8,451

DEPRECIATION

At 1 October 2014

4,374

Charge for year

816

At 30 September 2015

5,190

NET BOOK VALUE

At 30 September 2015

3,261

At 30 September 2014

4,077

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

1

Ordinary £1

£1

1

2

Ordinary "B"

£1

2

1

Ordinary "C"

£1

1

4