Abbreviated Company Accounts - G.S. STORES LIMITED

G.S. STORES LIMITED - Company Information

07328061 G.S. STORES LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 07328061 2013-08-01 2014-07-31 07328061 2014-07-31 07328061 2013-07-31 07328061 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 07328061 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 07328061

G.S. STORES LIMITED

Abbreviated Accounts

31 July 2014

G.S. STORES LIMITED Registered Number 07328061

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Current assets
Stocks		10,000	29,050
Debtors		200	2,134
Cash at bank and in hand		-	2,010
		10,200	33,194
Creditors: amounts falling due within one year		(83,728)	(67,230)
Net current assets (liabilities)		(73,528)	(34,036)
Total assets less current liabilities		(73,528)	(34,036)
Total net assets (liabilities)		(73,528)	(34,036)
Capital and reserves
Called up share capital	2	100	100
Profit and loss account		(73,628)	(34,136)
Shareholders' funds		(73,528)	(34,036)

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 April 2015

And signed on their behalf by:
G Singh, Director

G.S. STORES LIMITED Registered Number 07328061

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern. The company meets its day to day working capital requirements via the support of the director. He has confirmed that he will not withdraw his support for at least 12 months from the date of signing the financial statements. Thus, he continues to adopt the going concern basis of accounting in preparing the financial statements.

Transactions with director
Included in creditors is the amount of £64,871 (2013 - £46,915) due to the director, G Singh.

2Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100