Gary G Bond Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06212478 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Gary G Bond Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G G Bond

Mrs C J Bond

SECRETARY:

Mrs C J Bond

REGISTERED OFFICE:

30/31 St James Place

Mangotsfield

Bristol

South Glos.

BS16 9JB

REGISTERED NUMBER:

06212478 (England and Wales)

ACCOUNTANTS:

Copson Grandfield

30/31 St James Place

Mangotsfield

Bristol

South Glos.

BS16 9JB

FIXED ASSETS

Intangible assets

4

-

3,400

Tangible assets

5

443

521

443

3,921

CURRENT ASSETS

Stocks

62,112

35,980

Debtors

6

18,435

21,028

80,547

57,008

CREDITORS

Amounts falling due within one year

7

79,805

67,724

NET CURRENT ASSETS/(LIABILITIES)

742

(10,716

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,185

(6,795

)

PROVISIONS FOR LIABILITIES

8

84

99

NET ASSETS/(LIABILITIES)

1,101

(6,894

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,001

(6,994

)

SHAREHOLDERS' FUNDS

1,101

(6,894

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 20 February 2018 and were signed on its behalf by:

G G Bond - Director

1.	STATUTORY INFORMATION

Gary G Bond Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

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

Stocks

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

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

34,000

AMORTISATION

At 1 June 2016

30,600

Charge for year

3,400

At 31 May 2017

34,000

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

3,400

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

1,182

DEPRECIATION

At 1 June 2016

661

Charge for year

78

At 31 May 2017

739

NET BOOK VALUE

At 31 May 2017

443

At 31 May 2016

521

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

14,160

17,143

Other debtors

4,275

3,885

18,435

21,028

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

23,988

14,702

Trade creditors

27,194

20,291

Taxation and social security

11,881

23,251

Other creditors

16,742

9,480

79,805

67,724

8.	PROVISIONS FOR LIABILITIES

31.5.17

31.5.16

£

£

Deferred tax

Accelerated capital allowances

84

99

Deferred

tax

£

Balance at 1 June 2016

99

Provided during year

(15

)

Balance at 31 May 2017

84

9.	ULTIMATE CONTROLLING PARTY