GYM Construction Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07758265 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2015

for

GYM Construction Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G Young

K Middleton

REGISTERED OFFICE:

Casa Perro

Rear John Street North

Meadowfield

Co. Durham

DH7 8RT

REGISTERED NUMBER:

07758265 (England and Wales)

ACCOUNTANTS:

Pullan Barnes

Chartered Accountants

49 Front Street

Framwellgate Moor

Durham

Co. Durham

DH1 5BL

FIXED ASSETS

Tangible assets

2

4,131

3,561

CURRENT ASSETS

Stocks

15,949

27,874

Debtors

13,104

3,548

29,053

31,422

CREDITORS

Amounts falling due within one year

27,322

25,791

NET CURRENT ASSETS

1,731

5,631

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,862

9,192

CREDITORS

Amounts falling due after more than one year

-

1,300

NET ASSETS

5,862

7,892

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

5,860

7,890

SHAREHOLDERS' FUNDS

5,862

7,892

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 29 February 2016 and were signed on its behalf by:

G Young - 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 January 2015).

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

7,317

Additions

2,500

Disposals

(3,746

)

At 31 August 2015

6,071

DEPRECIATION

At 1 September 2014

3,756

Charge for year

745

Eliminated on disposal

(2,561

)

At 31 August 2015

1,940

NET BOOK VALUE

At 31 August 2015

4,131

At 31 August 2014

3,561

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

2

Ordinary

£1

2