Ian Gostellow Ltd Accounts






Ian Gostellow Ltd
	Company No. 11852135
		Information for Filing with The Registrar
		29 February 2020

			at	29 February 2020

Company No.		11852135			Notes	2020
						£






Current assets

	Debtors				3	9,841


						9,841
Creditors: Amount falling due within one year					4	(9,816)
Net current assets						25

Total assets less current liabilities						25




Net assets						25

Capital and reserves
	Called up share capital					10



	Profit and loss account				5	15

Total equity						25


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 29 February 2020 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 18 November 2020

And signed on its behalf by:

I. Gostellow
Director
18 November 2020

for the period ended 29 February 2020

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2020
			Number
		The average number of persons employed during the period :	1

3	Debtors
			2020
			£


		Corporation tax recoverable	2,306


		Loans to directors	7,095
		Other debtors	435
		Prepayments and accrued income	5
			9,841

4	Creditors:
		amounts falling due within one year
			2020
			£

		Bank loans and overdrafts	4,496


		Trade creditors	13

		Corporation tax	4,467



		Accruals and deferred income	840
			9,816

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

6	Advances and credits to directors
		Included within Other debtors / creditors (as appropriate) are the following loans between directors and the company:

		Director	Description	At 28 February 2019	Advanced	Repaid	At 29 February 2020
				£	£	£	£
		I. Gostellow	Directors Loan Account	-	25,583	(18,488)	7,095


































				-	25,583	(18,488)	7,095

The balance has no interest charged thereon. There are no conditions attached to advances to the director, however the director must ensure that any transactions between company and director are not detrimental to the company and if required the loan is to be repaid immediately.

Related party disclosures

Controlling parties

Immediate controlling parties

The Director by virtue of their majority shareholding.

Ultimate controlling party

The Director by virtue of their majority shareholding.

Additional information

Its registered number is:

11852135

Its registered office is:

2 Forest Farm Business Park

Fulford

York

YO19 4RH