Keith Garbett Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09823420 (England and Wales)

KEITH GARBETT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

14 OCTOBER 2015 TO 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr K R Garbett

SECRETARY:

Mrs L J Garbett

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

09823420 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

FIXED ASSETS

Tangible assets

2

3,167

CURRENT ASSETS

Debtors

3,124

Cash at bank

139

3,263

CREDITORS

Amounts falling due within one year

5,477

NET CURRENT LIABILITIES

(2,214

)

TOTAL ASSETS LESS CURRENT LIABILITIES

953

PROVISIONS FOR LIABILITIES

162

NET ASSETS

791

CAPITAL AND RESERVES

Called up share capital

3

101

Profit and loss account

690

SHAREHOLDERS' FUNDS

791

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 11 July 2017 and were signed by:

Mr K R Garbett - 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 the value excluding Value Added Tax of goods and services provided to customers during

the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as

the right to receive consideration has been acquired.

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

-

15% 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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

3,726

At 31 October 2016

3,726

DEPRECIATION

Charge for period

559

At 31 October 2016

559

NET BOOK VALUE

At 31 October 2016

3,167

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

1

Ordinary A

£1

1

101

100 Ordinary and 1 Ordinary A share were issued at par during the year.