GLOBAL_SOURCES_LIMITED - Accounts

GLOBAL_SOURCES_LIMITED - Accounts

GLOBAL SOURCES LIMITED - Company Information

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Company Registration No. 04356317 (England and Wales)
GLOBAL SOURCES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
GLOBAL SOURCES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
GLOBAL SOURCES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
666
Current assets
Stocks
30,646
21,914
Debtors
71,806
48,033
Cash at bank and in hand
635
1,574
103,087
71,521
Creditors: amounts falling due within one year
(83,439)
(54,060)
Net current assets
19,648
17,461
Total assets less current liabilities
19,648
18,127
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
9,648
8,127
Shareholders'  funds
19,648
18,127
For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 6 July 2015
Mr I Gilmour
Director
Company Registration No. 04356317
GLOBAL SOURCES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% on straight line basis
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014 & at 31 January 2015
2,667
Depreciation
At 1 February 2014
2,001
Charge for the year
666
At 31 January 2015
2,667
Net book value
At 31 January 2015
-
At 31 January 2014
666
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
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