GSP_VENUES_LIMITED - Accounts

GSP VENUES LIMITED - Company Information

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Company Registration No. 08279561 (England and Wales)

GSP VENUES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED ENDED 31 DECEMBER 2014

GSP VENUES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GSP VENUES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

4,551

1,242

Current assets

Debtors

401,620

595,123

Cash at bank and in hand

617,080

260,622

1,018,700

855,745

Creditors: amounts falling due within one year

(1,021,369)

(744,582)

Net current (liabilities)/assets

(2,669)

111,163

Total assets less current liabilities

1,882

112,405

Capital and reserves

Called up share capital

200

Profit and loss account

1,682

112,205

Shareholders' funds

1,882

112,405

For the financial year ended ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year ended in question in accordance with section 476;

The director acknowledges his 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 30 September 2015

Mr J Stevenson

Director

Company Registration No. 08279561

GSP VENUES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED ENDED 31 DECEMBER 2014

- 2 -

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Turnover is recognised to reflect the period in which the service is provided.

1.3

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% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.4

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.

Fixed assets

Tangible assets

Cost

At 1 January 2014

1,656

Additions

4,825

At 31 December 2014

6,481

Depreciation

At 1 January 2014

414

Charge for the period

1,516

At 31 December 2014

1,930

Net book value

At 31 December 2014

4,551

At 31 December 2013

1,242

GSP VENUES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED ENDED 31 DECEMBER 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 'A' ordinary shares of £1 each

100

100 'B' ordinary shares of £1 each

100

200

The 'A' ordinary shares of £1 each have full rights in the company with respect to voting, dividends and distribution.

The 'B' ordinary shares of £1 each have full rights to dividends and repayment of capital at par only.

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year ended are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr J Stevenson -

3.25

228,648

450,902

8,799

626,917

61,432

228,648

450,902

8,799

626,917

61,432