G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED Company accounts

G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED Company accounts

G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03147587
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Unaudited Financial Statements
31 December 2018
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Financial Statements
Year ended 31 December 2018
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
7
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Director's Report
Year ended 31 December 2018
The director presents her report and the unaudited financial statements of the company for the year ended 31 December 2018 .
Director
The director who served the company during the year was as follows:
M.L Smulovitch
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 18 March 2020 and signed on behalf of the board by:
M.L Smulovitch
Director
Registered office:
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Statement of Income and Retained Earnings
Year ended 31 December 2018
2018
2017
Note
£
£
Turnover
67,399
66,412
Cost of sales
39,139
18,058
--------
--------
Gross profit
28,260
48,354
Administrative expenses
29,828
38,344
--------
--------
Operating (loss)/profit
( 1,568)
10,010
Other interest receivable and similar income
374
208
--------
--------
(Loss)/profit before taxation
( 1,194)
10,218
Tax on (loss)/profit
–
–
-------
--------
(Loss)/profit for the financial year and total comprehensive income
( 1,194)
10,218
-------
--------
Retained earnings at the start of the year
28,935
18,717
--------
--------
Retained earnings at the end of the year
27,741
28,935
--------
--------
All the activities of the company are from continuing operations.
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Statement of Financial Position
31 December 2018
2018
2017
Note
£
£
£
Current assets
Debtors
5
27,771
20,052
Cash at bank and in hand
37,212
45,888
--------
--------
64,983
65,940
Creditors: amounts falling due within one year
6
37,142
36,905
--------
--------
Net current assets
27,841
29,035
--------
--------
Total assets less current liabilities
27,841
29,035
--------
--------
Net assets
27,841
29,035
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
27,741
28,935
--------
--------
Shareholders funds
27,841
29,035
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 March 2020 , and are signed on behalf of the board by:
M.L Smulovitch
Director
Company registration number: 03147587
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Notes to the Financial Statements
Year ended 31 December 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 Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2017: 5 ).
5. Debtors
2018
2017
£
£
Trade debtors
12,771
20,052
Other debtors
15,000
–
--------
--------
27,771
20,052
--------
--------
6. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
–
2,675
Social security and other taxes
3,990
2,897
Other creditors
33,152
31,333
--------
--------
37,142
36,905
--------
--------
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Management Information
Year ended 31 December 2018
The following pages do not form part of the financial statements.
G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of G & M MANAGEMENT & ADMINISTRATION SERVICES LIMITED
Year ended 31 December 2018
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
GK & CO. LLP Chartered accountants
Hallswelle House 1 Hallswelle Road London NW11 0DH
18 March 2020