Global Office Supplies Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06973572 (England and Wales)

GLOBAL OFFICE SUPPLIES LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Girton

M Keevil

SECRETARY:

M Keevil

REGISTERED OFFICE:

Global House

300 Broadway

Bexleyheath

Kent

DA6 8AH

REGISTERED NUMBER:

06973572 (England and Wales)

FIXED ASSETS

Tangible assets

2

20,289

18,304

CURRENT ASSETS

Debtors

314,480

214,912

Prepayments and accrued income

13,715

4,437

Cash at bank

261,738

174,949

589,933

394,298

CREDITORS

Amounts falling due within one year

463,958

274,752

NET CURRENT ASSETS

125,975

119,546

TOTAL ASSETS LESS CURRENT LIABILITIES

146,264

137,850

CAPITAL AND RESERVES

Called up share capital

3

110

110

Profit and loss account

146,154

137,740

SHAREHOLDERS' FUNDS

146,264

137,850

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

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

The directors acknowledge their 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 Board of Directors on 4 March 2016 and were signed on its behalf by:

M Girton - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is

appropriate because there are no material uncertainties related to events or conditions that may cast significant

doubt about the ability of the company to continue as a going concern.

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 goods, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses.

Plant & Machinery - 25% reducing balance

Motor vehicles - 25% straight line

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical

cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and

loss reserve.

At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not in excess of the amount that would have been determined had no

impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised

immediately in profit or loss.

Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay

more, or a right to pay less or to receive more tax with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have rolled over into replacement assets, only to the extent

that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no

provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than

not that the taxable gain will be rolled over into replacement assets and charged to tax only where the

replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of underlying timing differences can be

deducted.

Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences

reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

34,004

Additions

9,081

At 31 August 2015

43,085

DEPRECIATION

At 1 September 2014

15,700

Charge for year

7,096

At 31 August 2015

22,796

NET BOOK VALUE

At 31 August 2015

20,289

At 31 August 2014

18,304

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100

10

Ordinary B Shares

1

10

10

110

110

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, Mr M Girton, a director, was owed £9,264 (2014: was owed £633) by the company. Mr

M Keevil, a director, was owed £177 (2014: was owed £346).