Abbreviated Company Accounts - GLOBAL FUEL TRADING 2 LIMITED

GLOBAL FUEL TRADING 2 LIMITED - Company Information

07698383 GLOBAL FUEL TRADING 2 LIMITED 2013-11-30 false 2012-12-01 2013-11-30 true 07698383 2012-12-01 2013-11-30 07698383 2013-11-30 07698383 2012-11-30 07698383 uk-gaap-cd-bus:Director1 2012-12-01 2013-11-30 07698383 uk-gaap-cd-bus:Director2 2012-12-01 2013-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-01 2013-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-30 iso4217:GBP shares

Registered Number 07698383

GLOBAL FUEL TRADING 2 LIMITED

Abbreviated Accounts

30 November 2013

GLOBAL FUEL TRADING 2 LIMITED Registered Number 07698383

Abbreviated Balance Sheet as at 30 November 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	59,372	72,094
		59,372	72,094
Current assets
Stocks		58,935	30,167
Debtors		86,255	21,127
Cash at bank and in hand		9,807	-
		154,997	51,294
Creditors: amounts falling due within one year		(175,425)	(97,406)
Net current assets (liabilities)		(20,428)	(46,112)
Total assets less current liabilities		38,944	25,982
Creditors: amounts falling due after more than one year		(1,490)	(19,370)
Total net assets (liabilities)		37,454	6,612
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		37,354	6,512
Shareholders' funds		37,454	6,612

For the year ending 30 November 2013 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.

Approved by the Board on 29 August 2014

And signed on their behalf by:
Gulamabbas Bharwani, Director

GLOBAL FUEL TRADING 2 LIMITED Registered Number 07698383

Notes to the Abbreviated Accounts for the period ended 30 November 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the Period, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings - 15% straight line

Other accounting policies
Cash Flow

The financial statements do not include a Cash flow statement because the Company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets

	£
Cost
At 1 December 2012	84,816
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2013	84,816
Depreciation
At 1 December 2012	12,722
Charge for the year	12,722
On disposals	-
At 30 November 2013	25,444
Net book values
At 30 November 2013	59,372
At 30 November 2012	72,094

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
100 Ordinary shares of £1 each	100	100