GTEC_SOLUTIONS_LIMITED - Accounts

GTEC SOLUTIONS LIMITED - Company Information

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Company Registration No. 08243105 (England and Wales)

GTEC SOLUTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

GTEC SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GTEC SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

596

795

Current assets

Debtors

729

19,107

Cash at bank and in hand

24,074

15,106

24,803

34,213

Creditors: amounts falling due within one year

(15,637)

(29,350)

Net current assets

9,166

4,863

Total assets less current liabilities

9,762

5,658

Provisions for liabilities

(119)

(159)

9,643

5,499

Capital and reserves

Called up share capital

100

Profit and loss account

9,543

5,399

Shareholders' funds

9,643

5,499

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 18 November 2015

Mr G D Thomas

Director

Company Registration No. 08243105

GTEC SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 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

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:

Plant and machinery

25% Reducing Balance

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

1,060

Depreciation

At 1 April 2014

265

Charge for the year

199

At 31 March 2015

464

Net book value

At 31 March 2015

596

At 31 March 2014

795

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

GTEC SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Related party relationships and transactions

(Continued)

- 3 -

Transactions with Directors

The Director has provided the company with working capital in the form of an interest free loan which is repayable on demand. As at 31st March 2015, and included within 'Creditors: amounts due within one year' is a loan from the director amounting to £5,871 (2014: £14,447).

The company operates from premises owned by the Director and his wife. During the year rent amounting to £4,167 (2014: £7,125) was payable which was considered to be on a normal commercial basis.