GAG335 Limited - Period Ending 2017-03-31

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Registration number: 07598124

GAG335 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

GAG335 Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

GAG335 Limited

(Registration number: 07598124)
Balance Sheet as at 31 March 2017

	Note
		2017 £	2017 £	2016 £	2016 £
Current assets
Debtors	3		-		3,441
Cash at bank and in hand			1,016		21,757
			1,016		25,198
Creditors: Amounts falling due within one year	4		(8,726)		(30,213)
Net liabilities			(7,710)		(5,015)
Capital and reserves
Called up share capital		1		1
Profit and loss account		(7,711)		(5,016)
Total equity			(7,710)		(5,015)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 November 2017

.........................................

A R Boyce

Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

GAG335 Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
6 Lower Baxter Street
Bury St Edmunds
Suffolk
IP33 1ET

These financial statements were authorised for issue by the director on 24 November 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Joint Arrangement for Property Development

The proportion of contract costs, revenues, assets and liabilities that are directly attributable to the company are included in the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 2

GAG335 Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Debtors

	2017 £	2016 £
Trade debtors	-	2,141
Other debtors	-	1,300
Total current trade and other debtors	-	3,441

Page 3

GAG335 Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		22	140
Other creditors		8,704	30,073
		8,726	30,213

Page 4