GNC Technology Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 08822700 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2015

for

GNC Technology Ltd

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Mr P Guha

Mr I Cameron

SECRETARY:

REGISTERED OFFICE:

7 Cottom Way

Lawley

Telford

Shropshire

TF3 5GG

REGISTERED NUMBER:

08822700 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 March 2015.

INCORPORATION

The company was incorporated on 20 December 2013 and commenced trading on the same date.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of IT Consultancy

DIVIDENDS

No interim dividends were paid during the year on any of the shares.

The directors recommend a final dividend per share as follows:

Ordinary A £1

- £308.21

Ordinary B £1

- £263.50

The total distribution of dividends for the year ended 31 March 2015 will be £ 57,172 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2014 to the

date of this report.

Mr P Guha

Mr I Cameron

Both the directors, being eligible, offer themselves for election at the forthcoming first Annual

General Meeting.

ON BEHALF OF THE BOARD:

Mr P Guha - Director

25 June 2015

TURNOVER

186,207

Cost of sales

10,232

GROSS PROFIT

175,975

Administrative expenses

34,694

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

141,281

Tax on profit on ordinary activities

3

27,810

PROFIT FOR THE FINANCIAL YEAR

113,471

FIXED ASSETS

Tangible assets

5

2,268

CURRENT ASSETS

Debtors

6

1,390

Cash at bank

87,232

88,622

CREDITORS

Amounts falling due within one year

7

35,831

NET CURRENT ASSETS

52,791

TOTAL ASSETS LESS CURRENT
LIABILITIES

55,059

CAPITAL AND RESERVES

Called up share capital

8

200

Profit and loss account

9

54,859

SHAREHOLDERS' FUNDS

55,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 25 June 2015 and were
signed on its behalf by:

Mr P Guha - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and

in accordance with the Financial Reporting Standard for Smaller Entities

(Effective April 2008)

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding 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.

2.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

567

Directors' remuneration and other benefits etc

19,920

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

£

Current tax:

UK corporation tax

27,810

Tax on profit on ordinary activities

27,810

4.

DIVIDENDS

£

Ordinary A shares of £1 each

Final

57,172

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

2,835

At 31 March 2015

2,835

DEPRECIATION

Charge for year

567

At 31 March 2015

567

NET BOOK VALUE

At 31 March 2015

2,268

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1,390

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

715

Taxation and social security

35,116

35,831

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary A

£1

100

Ordinary B

£1

100

200

9.

RESERVES

Profit

and loss

account

£

At 1 April 2014

(1,440

)

Profit for the year

113,471

Dividends

(57,172

)

At 31 March 2015

54,859