GT Trading (Europe) Limited
GT Trading (Europe) Limited
Registered number: 01568243
Unaudited Financial Statements
For The Year Ended 30 June 2018
Ripple Consultancy Limited
ACCA
5 Simmons Close
Street
BA16 0NT
GT Trading (Europe) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
GT Trading (Europe) Limited
Balance Sheet
As at
30 June 2018
Balance Sheet
Registered number:
01568243
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Stocks | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (56,567) | (49,075) | |||
Page 1
GT Trading (Europe) Limited
Balance Sheet (continued)
As at
30 June 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
GT Trading (Europe) Limited
Notes to the Financial Statements
For The Year Ended 30 June 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The director is currently funding the company whilst it is still in a developing position, and is extremely positive in its forecasted ability to produce a profit going forward.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company.
1.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 4 years on a reducing balance basis.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Website Development |
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| Fixtures & Fittings |
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1.6.
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
4.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Amortisation | |||
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| Net Book Value | |||
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Page 3
GT Trading (Europe) Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2018
5.
Tangible Assets
| Website Development | Fixtures & Fittings | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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6.
Stocks
| 2018 | 2017 | ||
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| £ | £ | ||
| Stock - finished goods |
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7.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Accruals and deferred income |
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| Director's loan account |
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The director's loan account is interest free and repayable on demand. Currently the director is funding the development of the company, and therefore with going concern in mind, is not intending to call in the loan any time soon.
9.
Ultimate Controlling Party
The company's ultimate controlling party is Miss N Groag by virtue of her ownership of 100% of the issued share capital in the company.
10.
General Information
GT Trading (Europe) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01568243 . The registered office is 504 The View, 20 Palace Street, London, SW1E 5BA.
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