Abbreviated Company Accounts - GLEBEFOIL LIMITED

Registered Number 01834981

GLEBEFOIL LIMITED

Abbreviated Accounts

31 January 2015

GLEBEFOIL LIMITED Registered Number 01834981

Abbreviated Balance Sheet as at 31 January 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	7,370	8,321
		7,370	8,321
Current assets
Stocks		32,052	46,708
Debtors		1,667	1,692
Cash at bank and in hand		61,578	58,468
		95,297	106,868
Creditors: amounts falling due within one year		(18,664)	(31,757)
Net current assets (liabilities)		76,633	75,111
Total assets less current liabilities		84,003	83,432
Creditors: amounts falling due after more than one year		(31,129)	(21,196)
Provisions for liabilities		(1,441)	(1,624)
Total net assets (liabilities)		51,433	60,612
Capital and reserves
Called up share capital		100	100
Profit and loss account		51,333	60,512
Shareholders' funds		51,433	60,612

For the year ending 31 January 2015 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 21 July 2015

And signed on their behalf by:
S J Bull, Director

GLEBEFOIL LIMITED Registered Number 01834981

Notes to the Abbreviated Accounts for the period ended 31 January 2015

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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant, Machinery and other assets - 10%-25% reducing balance

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets

	£
Cost
At 1 February 2014	17,085
Additions	466
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2015	17,551
Depreciation
At 1 February 2014	8,764
Charge for the year	1,417
On disposals	-
At 31 January 2015	10,181
Net book values
At 31 January 2015	7,370
At 31 January 2014	8,321