Abbreviated Company Accounts - GILROY DEVELOPMENTS LIMITED
Abbreviated Company Accounts - GILROY DEVELOPMENTS LIMITED
Registered Number NI055328
GILROY DEVELOPMENTS LIMITED
Abbreviated Accounts
31 October 2014
GILROY DEVELOPMENTS LIMITED Registered Number NI055328
Abbreviated Balance Sheet as at 31 October 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 31 October 2014 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
And signed on their behalf by:
GILROY DEVELOPMENTS LIMITED Registered Number NI055328
Notes to the Abbreviated Accounts for the period ended 31 October 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings and equipment - 25% reducing balance
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Valuation information and policy
Other accounting policies
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date.
GOING CONCERN
The company had a net profit of £975 during the year ended 31 October 2014. At that date it had accumulated losses carried forward of £22,965. The directors have offered assurances that they will continue to financially support the company until such time as it returns to profitability or has been refinanced. They have assured that the directors loan creditor balance of £ 178,387 will not be repaid in the 12 months following the date of approval. As such the accounts are prepared on a going concern basis.
£ | |
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Cost | |
At 1 November 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 October 2014 |
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Depreciation | |
At 1 November 2013 |
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Charge for the year |
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On disposals |
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At 31 October 2014 |
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Net book values | |
At 31 October 2014 | 1,013 |
At 31 October 2013 | 1,266 |