Gme Springs Limited - Limited company - abbreviated - 11.6

Gme Springs Limited - Limited company - abbreviated - 11.6

GME SPRINGS LIMITED - Company Information

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REGISTERED NUMBER: 04481043















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

GME SPRINGS LIMITED

GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

GME SPRINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2014







DIRECTORS: R Gerrard
M Gerrard



SECRETARY: Mrs J Gerrard



REGISTERED OFFICE: Boston Place
Foleshill
Coventry
West Midlands
CV6 5NN



REGISTERED NUMBER: 04481043



ACCOUNTANTS: Armstrongs
Chartered Accountants and Business Advisors
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



BANKERS: Yorkshire Bank
7-11 High Street
Coventry
CV1 5SB
Page 1
GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,049,010 1,075,010
Investments 3 53,000 53,000
1,102,010 1,128,010

CURRENT ASSETS
Debtors 2,511 1,936
Cash at bank 609 3,716
3,120 5,652
CREDITORS
Amounts falling due within one year 7,099 9,336
NET CURRENT LIABILITIES (3,979 ) (3,684 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,098,031
1,124,326

CREDITORS
Amounts falling due after more than one
year
67,249
14,797
NET ASSETS 1,030,782 1,109,529

CAPITAL AND RESERVES
Called up share capital 4 53,101 53,100
Revaluation reserve 875,239 875,239
Profit and loss account 102,442 181,190
SHAREHOLDERS' FUNDS 1,030,782 1,109,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The notes form part of these abbreviated accounts

Page 2 continued...
GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)

ABBREVIATED BALANCE SHEET - continued
31 DECEMBER 2014


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 12 June 2015 and were signed on its behalf by:




R Gerrard - Director



M Gerrard - Director


The notes form part of these abbreviated accounts

Page 3
GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April
2008).

Preparation of consolidated financial statements
The financial statements contain information about Gme Springs Limited as an individual company and do not
contain consolidated financial information as the parent of a group. The company has taken the option under
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
Turnover represents amounts due for goods sold, services provided and rental income receivable during the
period, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Straight line over 50 years

Deferred tax
Deferred taxation has been recognised as a liability or asset if transactions occurred at the balance sheet date that
gives rise to an obligation to pay more taxation in future or a right to pay less in taxation in future. An asset is not
recognised to the extent that transfer of economic benefit in future is uncertain. Deferred tax assets or liabilities
recognised have not been discounted as at the balance sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 January 2014
and 31 December 2014 1,300,000
DEPRECIATION
At 1 January 2014 224,990
Charge for year 26,000
At 31 December 2014 250,990
NET BOOK VALUE
At 31 December 2014 1,049,010
At 31 December 2013 1,075,010

There is a Legal Charge outstanding on the property at Orgreave Road. The amount secured is £133,963. The
original loan has been repaid.

Page 4 continued...
GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2014

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 January 2014
and 31 December 2014 53,000
NET BOOK VALUE
At 31 December 2014 53,000
At 31 December 2013 53,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

GME Motor Engineers (Coventry) Limited
Nature of business: Manufacturing/Wholesaling of vehicle springs
%
Class of shares: holding
Ordinary 'A' 100.00
Ordinary 'B' 100.00
2014 2013
£    £   
Aggregate capital and reserves 855,128 806,341
Profit/(loss) for the year 92,251 (132,203 )

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
50,000 Ordinary 'A' £ 1 50,000 50,000
3,000 Ordinary 'B' £ 1 3,000 3,000
100 Ordinary 'C' £1 100 100
1 Ordinary D £1 1 -
53,101 53,100

The following shares were issued during the year for cash at par :

1 Ordinary D share of £1

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have signified that they will keep their directors current accounts in credit and that they will not
charge any interest on the monies held in their accounts.

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £122,708 (2013 - £120,000) were paid to the directors .

Page 5 continued...
GME SPRINGS LIMITED (REGISTERED NUMBER: 04481043)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2014

6. RELATED PARTY DISCLOSURES - continued

During the year the following transactions were undertaken with the subsidiary company, GME Motor Engineers
(Coventry) Ltd:

Management charges to subsidiary - £36,000 (2013 £36,000)

Rent charged to subsidiary - £63,996 (2013 £63,996)

Dividends received from subsidiary - £50,255 (2013 £502,440)

At the year end, the company owed £67,249 (2013 £14,797) to the subsidiary company.

At the year end the company was owed £1,936 (2013 £1,936) from Mrs J Gerrard, a shareholder.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R Gerrard (Director) who holds 51% of A ordinary issued share capital.

Page 6