Games Galaxy Limited - Accounts to registrar (filleted) - small 18.2
Games Galaxy Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2018 |
| for |
| Games Galaxy Limited |
| Games Galaxy Limited (Registered number: 04673270) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Games Galaxy Limited |
| Company Information |
| for the Year Ended 30 June 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 7 Brackenwood |
| Sunbury on Thames |
| Middlesex |
| TW16 6SQ |
| Games Galaxy Limited (Registered number: 04673270) |
| Balance Sheet |
| 30 June 2018 |
| 30.6.18 | 30.6.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Games Galaxy Limited (Registered number: 04673270) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2018 |
| 1. | STATUTORY INFORMATION |
| Games Galaxy Limited is a |
| 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 |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a workplace pension scheme through The National Employment Savings Trust |
| (NEST). It is a defined contribution workplace pension scheme and is available to all employees who |
| meet the eligibility criteria. The cost recognised in the Profit & Loss Account in the year to 30 June |
| 2018 was £1,212 (2017 £692). |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Games Galaxy Limited (Registered number: 04673270) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 5. | STOCKS |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Trade debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Shareholder loans |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax | ( |
) |
| Payroll taxes |
| VAT | 4,954 | 14,162 |
| Other creditors |
| Accruals |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Between one and five years |
| At 30 June 2018 the company had aggregate annual Commitments under non-cancellable operating |
| leases that expire in three years' time as set out above. |
| Games Galaxy Limited (Registered number: 04673270) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year under review the company sold goods and related services to PC Cables (UK) Ltd, a |
| company associated with the director, worth £365,063 (2017: £429,146) These transactions were |
| carried out at market value. The company made advances of £1,068,872 to the director during the |
| year. These funds were used as to £1,078,938 to pay suppliers to the company via his personal credit |
| cards and business expenses. The director's current account was credited with business expenses of |
| £1,189 due to him. The balance due to the Director at 30 June 2018 was £20,354 (2017 £9,099). |