GJC Trading Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04667159 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

GJC TRADING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr G Clewlow

SECRETARY:

Mrs H J Clewlow

REGISTERED OFFICE:

Unit 11 Alderflat Drive

Newstead Industrial Estate

Trentham

Stoke-on-Trent

Staffordshire

ST4 8HX

REGISTERED NUMBER:

04667159 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

2

55,163

52,553

CURRENT ASSETS

Stocks

59,618

55,875

Debtors

31,286

40,121

Cash at bank and in hand

345,898

326,633

436,802

422,629

CREDITORS

Amounts falling due within one year

36,853

47,477

NET CURRENT ASSETS

399,949

375,152

TOTAL ASSETS LESS CURRENT LIABILITIES

455,112

427,705

CREDITORS

Amounts falling due after more than one year

(4,920

)

-

PROVISIONS FOR LIABILITIES

(7,589

)

(10,511

)

NET ASSETS

442,603

417,194

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

442,602

417,193

SHAREHOLDERS' FUNDS

442,603

417,194

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 8th July 2015 and were signed by:

Mr G Clewlow - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 Statement for Smaller Entities

(Effective April 2008).

Accounting convention

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

applicable accounting standards.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Fixtures fittings & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

113,475

Additions

21,000

At 31st March 2015

134,475

DEPRECIATION

At 1st April 2014

60,922

Charge for year

18,390

At 31st March 2015

79,312

NET BOOK VALUE

At 31st March 2015

55,163

At 31st March 2014

52,553

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1