Abbreviated Company Accounts - GV GROUP (GATE VENTURES) LIMITED

Abbreviated Company Accounts - GV GROUP (GATE VENTURES) LIMITED

GV GROUP (GATE VENTURES) LIMITED - Company Information

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Registered Number 04221631

GV GROUP (GATE VENTURES) LIMITED

Abbreviated Accounts

31 August 2015

GV GROUP (GATE VENTURES) LIMITED Registered Number 04221631

Abbreviated Balance Sheet as at 31 August 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 118,334 110,796
118,334 110,796
Current assets
Stocks 251,700 137,950
Debtors 461,338 239,348
Cash at bank and in hand 6,060 22,232
719,098 399,530
Creditors: amounts falling due within one year (760,784) (465,828)
Net current assets (liabilities) (41,686) (66,298)
Total assets less current liabilities 76,648 44,498
Total net assets (liabilities) 76,648 44,498
Capital and reserves
Called up share capital 1 1
Profit and loss account 76,647 44,497
Shareholders' funds 76,648 44,498
  • 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 12 May 2016

And signed on their behalf by:
Mr Tevin Tobun, Director

GV GROUP (GATE VENTURES) LIMITED Registered Number 04221631

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 and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% Straight line basis
Motor Vehicles - 25% Straight line basis

Other accounting policies
Related party transactions
The company is controlled by Mr Tevin Tobun, the company's Managing Director, it is confirmed that Directors current account is debited with personal transactions and credited with Directors Remuneration as well as Dividends.

2Tangible fixed assets
£
Cost
At 1 September 2014 270,233
Additions 66,791
Disposals (39,444)
Revaluations -
Transfers -
At 31 August 2015 297,580
Depreciation
At 1 September 2014 159,437
Charge for the year 47,107
On disposals (27,298)
At 31 August 2015 179,246
Net book values
At 31 August 2015 118,334
At 31 August 2014 110,796