Ghai Distributors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02374968 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2015

FOR

GHAI DISTRIBUTORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T K Ghai

Mrs P K Ghai

R K Ghai

SECRETARY:

Mrs M K Shant

REGISTERED OFFICE:

Executive House

Coombe Road

Neasden

London

NW10 0EB

REGISTERED NUMBER:

02374968 (England and Wales)

ACCOUNTANTS:

Ashfords Partnership LLP

114 - 116 Goodmayes Road

Ilford

Essex

IG3 9UZ

FIXED ASSETS

Tangible assets

2

56,791

58,392

CURRENT ASSETS

Stocks

862,965

788,997

Debtors

279,456

275,187

Cash at bank and in hand

35,658

21,141

1,178,079

1,085,325

CREDITORS

Amounts falling due within one year

597,514

492,020

NET CURRENT ASSETS

580,565

593,305

TOTAL ASSETS LESS CURRENT LIABILITIES

637,356

651,697

CAPITAL AND RESERVES

Called up share capital

3

100,000

100,000

Profit and loss account

537,356

551,697

SHAREHOLDERS' FUNDS

637,356

651,697

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 24 May 2016 and were signed on its behalf by:

T K Ghai - 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

314,817

Additions

10,050

Disposals

(10,600

)

At 31 August 2015

314,267

DEPRECIATION

At 1 September 2014

256,425

Charge for year

10,992

Eliminated on disposal

(9,941

)

At 31 August 2015

257,476

NET BOOK VALUE

At 31 August 2015

56,791

At 31 August 2014

58,392

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

£

100,000

Ordinary

£1

100,000

100,000

4.	GOING CONCERN