GELDAR_LIMITED - Accounts

GELDAR_LIMITED - Accounts

GELDAR LIMITED - Company Information

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Company Registration No. 03269466 (England and Wales)
GELDAR LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
GELDAR LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
GELDAR LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GELDAR LIMITED FOR THE YEAR ENDED 31 OCTOBER 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Geldar Limited for the year ended 31 October 2015 set out on pages  to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Geldar Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Geldar Limited and state those matters that we have agreed to state to the Board of Directors of Geldar Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Geldar Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Geldar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Geldar Limited. You consider that Geldar Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Geldar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jackson Calvert
1 June 2016
Chartered Accountants
Bennett Corner House
33 Coleshill Street
Sutton Coldfield
West Midlands
B72 1SD
GELDAR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
192,746
158,627
Current assets
Stocks
157,127
219,850
Debtors
280,602
156,436
Cash at bank and in hand
119,792
87,455
557,521
463,741
Creditors: amounts falling due within one year
(144,930)
(141,908)
Net current assets
412,591
321,833
Total assets less current liabilities
605,337
480,460
Creditors: amounts falling due after more than one year
-
(1)
Provisions for liabilities
(11,468)
(9,950)
593,869
470,509
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
583,869
460,509
Shareholders'  funds
593,869
470,509
GELDAR LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2015
31 October 2015
- 3 -
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 1 June 2016
Mr H Powell
Director
Company Registration No. 03269466
GELDAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Long leasehold land and buildings
Nil
Plant and machinery
25% reducing balance
Office furniture and fittings
25% reducing value
Motor vehicles
25% reducing balance
Other assets
Leasehold property improvements are included in the balance sheet at their orginal cost. No depreciation is provided although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
GELDAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2014
272,319
Additions
61,073
Disposals
(44,790)
At 31 October 2015
288,602
Depreciation
At 1 November 2014
113,691
On disposals
(36,956)
Charge for the year
19,121
At 31 October 2015
95,856
Net book value
At 31 October 2015
192,746
At 31 October 2014
158,627
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
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