Gaglione Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04715949 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

GAGLIONE LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

3

924

1,302

CURRENT ASSETS

Stocks

4,490

4,490

Cash at bank

4,409

4,744

8,899

9,234

CREDITORS

Amounts falling due within one year

4

5,071

5,501

NET CURRENT ASSETS

3,828

3,733

TOTAL ASSETS LESS CURRENT LIABILITIES

4,752

5,035

CAPITAL AND RESERVES

Called up share capital

5

2

2

Retained earnings

4,750

5,033

SHAREHOLDERS' FUNDS

4,752

5,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 19 December 2019 and were signed on its behalf by:

Mr D R Jones - Director

1.	STATUTORY INFORMATION

Gaglione Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

04715949

Registered office:

Grenville House

9 Boutport Street

Barnstaple

Devon

EX31 1TZ

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of

work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term

contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that

asset as follows:

Equipment

-20% straight line

Stocks

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

obsolete and slow moving items.

3.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 April 2018

and 31 March 2019

8,033

DEPRECIATION

At 1 April 2018

6,731

Charge for year

378

At 31 March 2019

7,109

NET BOOK VALUE

At 31 March 2019

924

At 31 March 2018

1,302

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

3,661

4,091

Other creditors

1,410

1,410

5,071

5,501

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2