Gabrieles (Sunderland) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04515691 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Gabrieles (Sunderland) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

N Di Meo

SECRETARY:

C Di Meo

REGISTERED OFFICE:

11 Munslow Road

East Herrington

Sunderland

Tyne and Wear

SR3 3NA

REGISTERED NUMBER:

04515691 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

National Westminster Bank Plc

52 Fawcett Street

Sunderland

Tyne and Wear

SR1 1SB

FIXED ASSETS

Intangible assets

2

72,600

79,200

Tangible assets

3

5,157

4,467

77,757

83,667

CURRENT ASSETS

Stocks

2,900

2,750

Debtors

3,667

3,642

Cash at bank and in hand

104,625

70,967

111,192

77,359

CREDITORS

Amounts falling due within one year

177,347

150,916

NET CURRENT LIABILITIES

(66,155

)

(73,557

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,602

10,110

PROVISIONS FOR LIABILITIES

1,031

893

NET ASSETS

10,571

9,217

CAPITAL AND RESERVES

Called up share capital

4

Profit and loss account

10,567

9,213

SHAREHOLDERS' FUNDS

10,571

9,217

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 3 May 2017 and were signed by:

N Di Meo - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes that the company will continue in

operational existence for the foreseeable future, which the director considers to be appropriate.

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its

estimated useful life of twenty five years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable

value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or

damaged stock where the net realisable value is less than cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable, and therefore recognised, only when, on the basis of all available evidence, it

can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing differences can be deducted.

Deferred tax is measured on a non-discounted basis at the average rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on the tax rates and laws that have been enacted, or substantively enacted,

by the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

165,000

AMORTISATION

At 1 September 2015

85,800

Amortisation for year

6,600

At 31 August 2016

92,400

NET BOOK VALUE

At 31 August 2016

72,600

At 31 August 2015

79,200

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

16,489

Additions

1,600

At 31 August 2016

18,089

DEPRECIATION

At 1 September 2015

12,022

Charge for year

910

At 31 August 2016

12,932

NET BOOK VALUE

At 31 August 2016

5,157

At 31 August 2015

4,467

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

4

Ordinary

£1

4

5.

CONTROL

The controlling party is N Di Meo.