Abbreviated Company Accounts - GALVOPTICS LIMITED

Abbreviated Company Accounts - GALVOPTICS LIMITED

GALVOPTICS LIMITED - Company Information

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Registered Number 01116562

GALVOPTICS LIMITED

Abbreviated Accounts

31 August 2015

GALVOPTICS LIMITED Registered Number 01116562

Abbreviated Balance Sheet as at 31 August 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 167,070 173,380
167,070 173,380
Current assets
Stocks 6,245 6,345
Debtors 370,346 319,052
Cash at bank and in hand 1,169,426 1,069,952
1,546,017 1,395,349
Net current assets (liabilities) 1,546,017 1,395,349
Total assets less current liabilities 1,713,087 1,568,729
Creditors: amounts falling due after more than one year (482,252) (354,445)
Provisions for liabilities (526) (526)
Total net assets (liabilities) 1,230,309 1,213,758
Capital and reserves
Called up share capital 6,200 6,200
Revaluation reserve 27,549 27,549
Other reserves 100 100
Profit and loss account 1,196,460 1,179,909
Shareholders' funds 1,230,309 1,213,758
  • For the year ending 31 August 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 5 April 2016

And signed on their behalf by:
R Wale, Director
B Wale, Director

GALVOPTICS LIMITED Registered Number 01116562

Notes to the Abbreviated Accounts for the period ended 31 August 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Land and Buildings - Straight line over 50 years
Plant and machinery - 25% reducing balance
Fixture and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 September 2014 394,926
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2015 394,926
Depreciation
At 1 September 2014 221,546
Charge for the year 6,310
On disposals -
At 31 August 2015 227,856
Net book values
At 31 August 2015 167,070
At 31 August 2014 173,380