Games Galaxy Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04673270 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Games Galaxy Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

N C Fordham

J Nwaizu

SECRETARY:

R Kelly

REGISTERED OFFICE:

4/5 Kingsgrove Industrial Estate

Invincible Road

Farnborough

Hampshire

GU14 7SS

REGISTERED NUMBER:

04673270 (England and Wales)

ACCOUNTANTS:

Kelly & Associates

7 Brackenwood

Sunbury on Thames

Middlesex

TW16 6SQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

656

-

656

-

CURRENT ASSETS

Stocks

98,498

98,498

Debtors

9,630

11,824

Prepayments and accrued income

27,425

29,709

Cash at bank

-

9,060

135,553

149,091

CREDITORS

Amounts falling due within one year

134,984

113,897

NET CURRENT ASSETS

569

35,194

TOTAL ASSETS LESS CURRENT LIABILITIES

1,225

35,194

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

1,224

35,193

SHAREHOLDERS' FUNDS

1,225

35,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 30 March 2016 and were signed on its behalf by:

N C Fordham - 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 goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

12,500

AMORTISATION

At 1 July 2014

and 30 June 2015

12,500

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

31,626

Additions

762

At 30 June 2015

32,388

DEPRECIATION

At 1 July 2014

31,626

Charge for year

106

At 30 June 2015

31,732

NET BOOK VALUE

At 30 June 2015

656

At 30 June 2014

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

2

Ordinary

50p

1

1

5.	ULTIMATE PARENT COMPANY