GIBBS TIMBER FRAME LIMITED Accounts filed on 31-03-2015

GIBBS TIMBER FRAME LIMITED Accounts filed on 31-03-2015

GIBBS TIMBER FRAME LIMITED - Company Information

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GIBBS TIMBER FRAME LIMITED




Company Registration Number:
05406484 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st April 2014

End date: 31st March 2015

SUBMITTED

GIBBS TIMBER FRAME LIMITED

Company Information
for the Period Ended 31st March 2015




Director: Mr. A P T Gibbs
Company secretary: Mr. T J Gibbs
Registered office: Unit 3 Broadfields Farm
Chapel Lane
Merstone
Isle Of Wight
PO30 3DA
Company Registration Number: 05406484 (England and Wales)

GIBBS TIMBER FRAME LIMITED

Abbreviated Balance sheet
As at 31st March 2015

Notes 2015
£		 2014
£
Fixed assets
Tangible assets: 2 91,850 131,683
Total fixed assets: 91,850 131,683
Current assets
Stocks: 48,215 58,812
Debtors: 4 201,716 117,615
Cash at bank and in hand: 112,845 -
Total current assets: 362,776 176,427
Creditors
Creditors: amounts falling due within one year 5 305,975 239,802
Net current assets (liabilities): 56,801 ( 63,375 )
Total assets less current liabilities: 148,651 68,308
Creditors: amounts falling due after more than one year: 6 31,282 53,977
Provision for liabilities: 7 13,755 11,564
Total net assets (liabilities): 103,614 2,767

The notes form part of these financial statements

GIBBS TIMBER FRAME LIMITED

Abbreviated Balance sheet
As at 31st March 2015
continued

Notes 2015
£		 2014
£
Capital and reserves
Called up share capital: 8 1,000 1,000
Profit and Loss account: 102,614 1,767
Total shareholders funds: 103,614 2,767

For the year ending 31 March 2015 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 15 June 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mr. A P T Gibbs
Status: Director

The notes form part of these financial statements

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

    Turnover policy

    Turnover comprises the value of sales (excluding Value Added Tax and similar taxes and trade discounts) of goods and services in the normal course of business.

    Tangible fixed assets depreciation policy

    Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Plant & Machinery - 25% reducing balance, Motor Vehicles - 25% reducing balance, Office Equipment - 25% reducing balance and Fixtures & fittings - 25% reducing balance

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 2. Tangible assets

    Total
    Cost £
    At 01st April 2014: 339,188
    Additions: 10,752
    Disposals: 35,500
    At 31st March 2015: 314,440
    Depreciation
    At 01st April 2014: 207,505
    Charge for year: 30,616
    On disposals: 15,531
    At 31st March 2015: 222,590
    Net book value
    At 31st March 2015: 91,850
    At 31st March 2014: 131,683

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 4. Debtors

    2015
    £     		2014
    £
    Trade debtors: 172,862 109,259
    Other debtors: 28,854 8,356
    Total: 201,716 117,615

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 5. Creditors: amounts falling due within one year

    2015
    £     		2014
    £
    Bank loans and overdrafts: - 35,130
    Trade creditors: 156,004 181,790
    Taxation and social security: 59,635 20,828
    Accruals and deferred income: 900 2,054
    Other creditors: 89,436 -
    Total: 305,975 239,802

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 6. Creditors: amounts falling due after more than one year

    2015
    £     		2014
    £
    Amounts due under finance leases and hire purchase contracts: 31,282 53,977
    Total: 31,282 53,977

GIBBS TIMBER FRAME LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2015

  • 8. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1,000 1.00
    1.00
    		1,000
    Total share capital: 1,000
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1,000 1.00
    1.00
    		1,000
    Total share capital: 1,000