Glandy Cross Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05093573 (England and Wales)

GLANDY CROSS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr C T James

SECRETARY:

Mr D M B Davies

REGISTERED OFFICE:

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

REGISTERED NUMBER:

05093573 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

2

-

46,250

Tangible assets

3

-

109,794

Investments

4

-

2

-

156,046

CURRENT ASSETS

Stocks

-

57,659

Debtors

-

921,724

Cash in hand

-

6,538

-

985,921

CREDITORS

Amounts falling due within one year

11,862

1,153,829

NET CURRENT LIABILITIES

(11,862

)

(167,908

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,862

)

(11,862

)

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

(11,864

)

(11,864

)

SHAREHOLDERS' FUNDS

(11,862

)

(11,862

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 29 March 2017 and were signed by:

Mr C T James - 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).

The company was dormant throughout the year ended 30 June 2016. However, reference to information relating to

the year ended 30 June 2015 has been made where appropriate.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

100,000

Disposals

(100,000

)

At 30 June 2016

-

AMORTISATION

At 1 July 2015

53,750

Eliminated on disposal

(53,750

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

46,250

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

187,865

Disposals

(187,865

)

At 30 June 2016

-

DEPRECIATION

At 1 July 2015

78,071

Eliminated on disposal

(78,071

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

109,794

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

2

Disposals

(2

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

2

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and 30 June 2015:

2016

2015

£

Mr C T James

Balance outstanding at start of year

(25,215

)

(23,796

)

Amounts advanced

-

11,331

Amounts repaid

25,215

(12,750

)

Balance outstanding at end of year

-

(25,215

)