Gambit Publications Limited - Abbreviated accounts 16.1

Gambit Publications Limited - Abbreviated accounts 16.1

GAMBIT PUBLICATIONS LIMITED - Company Information

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DRAFT
REGISTERED NUMBER: 03300787















GAMBIT PUBLICATIONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015





Rothman Pantall LLP
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR








CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GAMBIT PUBLICATIONS LIMITED


DRAFT
The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)
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 Gambit Publications Limited for the year ended 31 December 2015 on pages to 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Gambit Publications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gambit Publications Limited and state those matters that we have agreed to state to the Board of Directors of Gambit Publications 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gambit Publications 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 Gambit Publications Limited. You consider that Gambit Publications 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 Gambit Publications 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.






Rothman Pantall LLP
Chartered Accountants
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


30 June 2016

This page does not form part of the abbreviated accounts

Page 1
GAMBIT PUBLICATIONS LIMITED (REGISTERED NUMBER: 03300787)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015

DRAFT









Page

Chartered Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

GAMBIT PUBLICATIONS LIMITED (REGISTERED NUMBER: 03300787)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2015

2015 2014
Notes £    £   
DRAFT
CURRENT ASSETS
Stocks 210,323 220,501
Debtors 205,316 195,948
Cash at bank 12,404 12,297
428,043 428,746
CREDITORS
Amounts falling due within one year 185,401 194,329
NET CURRENT ASSETS 242,642 234,417
TOTAL ASSETS LESS CURRENT
LIABILITIES
242,642
234,417

CAPITAL AND RESERVES
Called up share capital 2 300 300
Capital redemption reserve 59,700 59,700
Profit and loss account 182,642 174,417
SHAREHOLDERS' FUNDS 242,642 234,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 June 2016 and were signed on its behalf by:





Mr M Chandler GM - Director


The notes form part of these abbreviated accounts

Page 2
GAMBIT PUBLICATIONS LIMITED (REGISTERED NUMBER: 03300787)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015

DRAFT

1. ACCOUNTING POLICIES

Basis of accounting
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 sales during the year (excluding value added tax) adjusted for accrued and deferred
income where applicable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of
activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the
valuation of work in progress.

Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax is provided in full on temporary differences which arise between the carrying value of an asset or
liability and its tax base. Deferred tax assets are recognised to the extent that it is probable that there will be
sufficient profits in the future to enable the assets to be utilised. Deferred tax assets and liabilities are not
discounted.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised when approved by the shareholders at an annual general
meeting.

2. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
300 Ordinary 1 300 300

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