GTO Limited - Limited company - abbreviated - 11.0.0
GTO Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2013 |
| FOR |
| GTO LIMITED |
| GTO LIMITED (REGISTERED NUMBER: 04751046) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 OCTOBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| GTO LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 OCTOBER 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| GTO LIMITED (REGISTERED NUMBER: 04751046) |
| ABBREVIATED BALANCE SHEET |
| 31 OCTOBER 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Share premium |
| Profit and loss account | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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 were approved by the Board of Directors on |
| GTO LIMITED (REGISTERED NUMBER: 04751046) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 OCTOBER 2013 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and the Statement of Recommended Practice, "Accounting for Oil and Gas Exploration, |
| Development, Production and Decommissioning Activities", issued by the Oil Industry Accounting Committee |
| ("SORP"). |
| Financial reporting standard number 1 |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced recharges of costs in the exploration of oil and gas, excluding value added tax. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Fixed asset investments |
| Fixed asset investments are initially measured at cost less provision for permanent diminution in value. For listed |
| investments market value is based on the closing middle market price. |
| 2. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST OR VALUATION |
| At 1 November 2012 | 47,090 |
| Additions | 663 |
| Disposals | (1 | ) |
| Revaluations | (15,302 | ) |
| At 31 October 2013 | 32,450 |
| NET BOOK VALUE |
| At 31 October 2013 | 32,450 |
| At 31 October 2012 | 47,090 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | 50p |