Abbreviated Company Accounts - NEXGIFT LIMITED

08403416 NEXGIFT LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 08403416 2015-01-01 2015-12-31 08403416 2015-12-31 08403416 2014-12-31 08403416 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 08403416 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 08403416

NEXGIFT LIMITED

Abbreviated Accounts

31 December 2015

NEXGIFT LIMITED Registered Number 08403416

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	28,040	4,725
Tangible assets	3	8,963	11,091
		37,003	15,816
Current assets
Stocks		91,106	77,820
Debtors		793,748	491,002
Cash at bank and in hand		15,842	38,168
		900,696	606,990
Creditors: amounts falling due within one year		(792,431)	(550,303)
Net current assets (liabilities)		108,265	56,687
Total assets less current liabilities		145,268	72,503
Total net assets (liabilities)		145,268	72,503
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		145,267	72,502
Shareholders' funds		145,268	72,503

For the year ending 31 December 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 28 June 2016

And signed on their behalf by:
D J King, Director

NEXGIFT LIMITED Registered Number 08403416

Notes to the Abbreviated Accounts for the period ended 31 December 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 net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2Intangible fixed assets

	£
Cost
At 1 January 2015	4,725
Additions	23,315
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	28,040
Amortisation
At 1 January 2015	-
Charge for the year	-
On disposals	-
At 31 December 2015	-
Net book values
At 31 December 2015	28,040
At 31 December 2014	4,725

3Tangible fixed assets

	£
Cost
At 1 January 2015	13,864
Additions	860
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	14,724
Depreciation
At 1 January 2015	2,773
Charge for the year	2,988
On disposals	-
At 31 December 2015	5,761
Net book values
At 31 December 2015	8,963
At 31 December 2014	11,091

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1