Global I P Solutions Group Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07341919 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended

31 August 2016

for

GLOBAL I P SOLUTIONS GROUP LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Certified Accountants' Report

5

DIRECTOR:

Mrs E L Thompson

REGISTERED OFFICE:

8 Eastway

Sale

Cheshire

M33 4DX

REGISTERED NUMBER:

07341919 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Tangible assets

2

22,477

28,648

CURRENT ASSETS

Stocks

1,200

-

Debtors

25,173

11,459

Cash at bank

663

10,495

27,036

21,954

CREDITORS

Amounts falling due within one year

30,911

24,149

NET CURRENT LIABILITIES

(3,875

)

(2,195

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,602

26,453

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

18,601

26,452

SHAREHOLDERS' FUNDS

18,602

26,453

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 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 31 May 2017 and were signed by:

Mrs E L Thompson - 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, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

A sale is recognised when the goods have been despatched to clients, which is the point at which the risks and

rewards of ownership pass to the customer and therefore revenue recognised.

Tangible fixed assets

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

Computer equipment

-

33% on cost

The company carries tangible fixed assets in the balance sheet using the depreciated historic cost method.

Stocks

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

slow moving items.

Financial instruments

Financial Instruments are classified and accounted for according to the substance of the transaction as either a

financial asset, liability or equity instrument. An equity instrument is any contract that evidences a residual

interest in the assets of the company after all liabilities have been deducted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

64,667

Additions

4,504

At 31 August 2016

69,171

DEPRECIATION

At 1 September 2015

36,019

Charge for year

10,675

At 31 August 2016

46,694

NET BOOK VALUE

At 31 August 2016

22,477

At 31 August 2015

28,648

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

1

Ordinary

£1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2016 and

31 August 2015:

31.8.16

31.8.15

£

Mrs E L Thompson

Balance outstanding at start of year

(6,455

)

(10,258

)

Amounts advanced

22,545

11,813

Amounts repaid

(21,952

)

(8,010

)

Balance outstanding at end of year

(5,862

)

(6,455

)

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Global I P Solutions Group Ltd for the year ended 31 August 2016 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Global I P Solutions Group Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global I P Solutions Group Ltd and state those matters that we have agreed to state to the director of Global I P Solutions Group Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Global I P Solutions Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Global I P Solutions Group Ltd. You consider that Global I P Solutions Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Global I P Solutions Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

Date: .............................................