Gant Building Contractors Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08949736 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Gant Building Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Gander

S Peacock

REGISTERED OFFICE:

1 Forbench Close

Ripley

Woking

Surrey

GU23 6DY

REGISTERED NUMBER:

08949736 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

22,002

CURRENT ASSETS

Stocks

5

13,974

-

Debtors

6

36,943

6,283

Cash at bank

-

59

50,917

6,342

CREDITORS

Amounts falling due within one year

7

50,361

11,564

NET CURRENT ASSETS/(LIABILITIES)

556

(5,222

)

TOTAL ASSETS LESS CURRENT LIABILITIES

556

16,780

CREDITORS

Amounts falling due after more than one year

8

-

15,793

NET ASSETS

556

987

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

456

887

SHAREHOLDERS' FUNDS

556

987

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 March 2018 and were signed on its behalf by:

S Peacock - Director

1.	STATUTORY INFORMATION

Gant Building Contractors 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.

Tangible fixed assets

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

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 Income Statement, 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.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

31,445

Disposals

(31,445

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

9,443

Charge for year

1,250

Eliminated on disposal

(10,693

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

22,002

5.

STOCKS

31.3.17

31.3.16

£

£

Stocks

2,500

-

Work-in-progress

11,474

-

13,974

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Directors' current accounts

28,166

5,026

Tax

8,777

1,257

36,943

6,283

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

1,006

-

Hire purchase contracts

-

3,948

Trade creditors

4,641

-

Tax

14,611

1,978

Social security and other taxes

20,856

-

VAT

9,247

2,728

Accrued expenses

-

2,910

50,361

11,564

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

-

15,793

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2016

887

Profit for the year

19,569

Dividends

(20,000

)

At 31 March 2017

456

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

S Gander

Balance outstanding at start of year

5,026

-

Amounts advanced

23,140

5,026

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

28,166

5,026

Interest has been charged on the loan between the director and the company at the official market rate.

12.	RELATED PARTY DISCLOSURES