John Galt Racing Ltd - Abbreviated accounts 16.1

John Galt Racing Ltd - Abbreviated accounts 16.1


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REGISTERED NUMBER: 09063472(England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

JOHN GALT RACING LTD

JOHN GALT RACING LTD (REGISTERED NUMBER: 09063472)






Contents of the Abbreviated Accounts
for the Year Ended 31 May 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

JOHN GALT RACING LTD

Company Information
for the Year Ended 31 May 2016







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)





ACCOUNTANTS: Focus (HS) Limited
Vennacott Farm
Blackdown
Nr Beaminster
Dorset
DT8 3LE

JOHN GALT RACING LTD (REGISTERED NUMBER: 09063472)

Abbreviated Balance Sheet
31 May 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 6,242 7,497

CURRENT ASSETS
Debtors 100 2,658
Cash at bank and in hand 1,698 2,292
1,798 4,950
CREDITORS
Amounts falling due within one year 16,723 46,229
NET CURRENT LIABILITIES (14,925 ) (41,279 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,683

)

(33,782

)

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account (8,783 ) (33,882 )
SHAREHOLDERS' FUNDS (8,683 ) (33,782 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 23 February 2017and were signed on
its behalf by:





Mr J P Orjuela- Director


JOHN GALT RACING LTD (REGISTERED NUMBER: 09063472)

Notes to the Abbreviated Accounts
for the Year Ended 31 May 2016

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.


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 June 2015 8,819
Additions 81
At 31 May 2016 8,900
DEPRECIATION
At 1 June 2015 1,322
Charge for year 1,336
At 31 May 2016 2,658
NET BOOK VALUE
At 31 May 2016 6,242
At 31 May 2015 7,497

3. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2016 2015
value: £    £   
100 Share capital 1 1.00 100 100