5th Gear Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC242094 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

5th Gear Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs V Murray-Poore

SECRETARY:

J Poore

REGISTERED OFFICE:

4 Atholl Crescent

Perth

Perthshire

PH1 5NG

REGISTERED NUMBER:

SC242094 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

4 Atholl Crescent

Perth

Perthshire

PH1 5NG

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

5,994

9,716

5,994

9,716

CURRENT ASSETS

Stocks

8,930

8,229

Debtors

1,458

16,355

Cash at bank and in hand

280,497

320,453

290,885

345,037

CREDITORS

Amounts falling due within one year

42,198

39,859

NET CURRENT ASSETS

248,687

305,178

TOTAL ASSETS LESS CURRENT LIABILITIES

254,681

314,894

PROVISIONS FOR LIABILITIES

1,057

777

NET ASSETS

253,624

314,117

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

253,623

314,116

SHAREHOLDERS' FUNDS

253,624

314,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 December 2015 and were signed by:

Mrs V Murray-Poore - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of internet services, excluding value added tax.

Intangible fixed assets

Website domain name registrations are amortised over their anticipated useful life of 3 years on a straight

line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date. Deferred tax is provided at the average rates that are expected to apply when the timing

differences reverse, based on current tax rates and laws.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

12,536

AMORTISATION

At 1 April 2014

and 31 March 2015

12,536

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

22,598

Additions

2,328

Disposals

(13,078

)

At 31 March 2015

11,848

DEPRECIATION

At 1 April 2014

12,882

Charge for year

1,998

Eliminated on disposal

(9,026

)

At 31 March 2015

5,854

NET BOOK VALUE

At 31 March 2015

5,994

At 31 March 2014

9,716

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1

5.	ULTIMATE CONTROLLING PARTY