Gibson Controls Limited 31/05/2018 iXBRL
Gibson Controls Limited 31/05/2018 iXBRL
Company registration number:
03733826
Unaudited filleted financial statements
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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8-10 Gatley Road | ||
Cheadle | ||
Cheshire | ||
SK8 1PY | ||
Statement of financial position
31 May 2018
2018 | 2017 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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_______ | _______ | ||||||||
Net assets |
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Capital and reserves | |||||||||
Called up share capital | 7 |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2019
, and are signed on behalf of the board by:
Director
Company registration number:
03733826
Notes to the financial statements
Year ended 31 May 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Shentonfield Road, Sharston Industrial Area, Manchester, M22 4RW.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
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Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2017:
5
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5.
Debtors
2018 | 2017 | |||
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Trade debtors |
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Other debtors |
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6.
Creditors: amounts falling due within one year
2018 | 2017 | |||
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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7.
Called up share capital
Issued, called up and fully paid
2018 | 2017 | ||||||||
No | £ | No | £ | ||||||
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100 | 100 | 100 | 100 | |||||
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67 | 67 | 67 | 67 | |||||
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33 | 33 | 33 | 33 | |||||
_______ | _______ | _______ | _______ | ||||||
200 |
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200 |
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8.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2018 | 2017 | 2018 | 2017 | ||
£ | £ | £ | £ | ||
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_______ | _______ | _______ | _______ | ||
At 31 May 2018 the company owed £2,790 (2017 - £2,562) to the directors. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.