GLS GROUP LTD - Accounts to registrar (filleted) - small 18.2
GLS GROUP LTD - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 27 February 2020 |
for |
GLS GROUP LTD |
GLS GROUP LTD (Registered number: NI636166) |
Contents of the Financial Statements |
for the Year Ended 27 February 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GLS GROUP LTD |
Company Information |
for the Year Ended 27 February 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Building 2 |
The Sidings |
Antrim Road |
Lisburn |
Co. Antrim |
BT28 3AJ |
GLS GROUP LTD (Registered number: NI636166) |
Abridged Balance Sheet |
27 February 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
GLS GROUP LTD (Registered number: NI636166) |
Abridged Balance Sheet - continued |
27 February 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
GLS GROUP LTD (Registered number: NI636166) |
Notes to the Financial Statements |
for the Year Ended 27 February 2020 |
1. | STATUTORY INFORMATION |
GLS GROUP LTD is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover 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. This is usually on dispatch of the goods. |
Tangible fixed assets |
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate that the carrying value may not be recoverable. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
No provision has been made for deferred tax as liabilities will not crysatallise in the foreseeable future. |
GLS GROUP LTD (Registered number: NI636166) |
Notes to the Financial Statements - continued |
for the Year Ended 27 February 2020 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 28 February 2019 |
Additions |
At 27 February 2020 |
DEPRECIATION |
At 28 February 2019 |
Charge for year |
At 27 February 2020 |
NET BOOK VALUE |
At 27 February 2020 |
At 27 February 2019 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
6. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr G L Sleator. |