J_G_GLOVER_&_CO_LIMITED - Accounts

JG GLOVER & CO. LIMITED - Company Information

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Company Registration No. 02340558 (England and Wales)

J G GLOVER & CO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

J G GLOVER & CO LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

J G GLOVER & CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

3,849

3,698

Investments

26,877

30,726

30,575

Current assets

Stocks

84,538

43,733

Debtors

249,278

190,700

Cash at bank and in hand

280,706

185,551

614,522

419,984

Creditors: amounts falling due within one year

(197,711)

(82,809)

Net current assets

416,811

337,175

Total assets less current liabilities

447,537

367,750

Provisions for liabilities

(770)

(740)

446,767

367,010

Capital and reserves

Called up share capital

100

Profit and loss account

446,667

366,910

Shareholders' funds

446,767

367,010

J G GLOVER & CO LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 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 24 November 2015

Mr T W Glover

Director

Company Registration No. 02340558

J G GLOVER & CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

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:

Fixtures, fittings & equipment

15% pa reducing balance basis

Motor vehicles

25% pa reducing balance basis

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

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.

J G GLOVER & CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2014

17,693

26,877

44,570

Additions

869

At 31 March 2015

18,562

26,877

45,439

Depreciation

At 1 April 2014

13,995

Charge for the year

718

At 31 March 2015

14,713

Net book value

At 31 March 2015

3,849

26,877

30,726

At 31 March 2014

3,698

26,877

30,575

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Participating interests

Dimensions Knitwear Ltd

England

Ordinary

20.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Dimensions Knitwear Ltd

Knitwear manufacturing

117,072

9,799

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100