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GLOBAL FUEL TRADING 2 LIMITED
REGISTERED NUMBER: 07698383
ABBREVIATED BALANCE SHEET
AS AT 30 NOVEMBER 2014
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the Company as at 30 November 2014 and of its loss for the Period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.
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GLOBAL FUEL TRADING 2 LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 NOVEMBER 2014
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 February 2016.
The notes on pages 3 to 4 form part of these financial statements.
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GLOBAL FUEL TRADING 2 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2014
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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The financial statements do not include a Cash flow statement because the Company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the Period, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2.TANGIBLE FIXED ASSETS
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At 1 December 2013 and 30 November 2014
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Page 3
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GLOBAL FUEL TRADING 2 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2014
3.SHARE CAPITAL
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Authorised, allotted, called up and fully paid
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100 Ordinary shares of £1 each
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4.ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
The company is a 100% subsidiary of Global Fuel Trading Limited.
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