GOLD_2005_LIMITED - Accounts

GOLD 2005 LIMITED - Company Information

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Company Registration No. 02307341 (England and Wales)

GOLD 2005 LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

GOLD 2005 LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GOLD 2005 LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

as restated

Notes

Fixed assets

Tangible assets

182,060

Current assets

Stocks

357,368

Debtors

408,227

Cash at bank and in hand

18,337

783,932

Creditors: amounts falling due within one year

(1,310,982)

Net current assets/(liabilities)

(527,050)

Total assets less current liabilities

(344,990)

Capital and reserves

Called up share capital

Profit and loss account

(344,992)

Shareholders' funds

(344,990)

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.

Directors' 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 directors acknowledge their 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 12 April 2016

Mr J Taylor

Mr M L Scragg

Director

Company Registration No. 02307341

GOLD 2005 LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

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).

The Company ceased trading on 31 October 2014 and as part of a group reorganisation on the Cornwall, Treasure Parks site, the trade, assets and liabilities were transferred to a group company on 1 November 2014.

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 the sale of gold and silver jewellery products and associated catering 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:

Land and building leasehold

period of lease

Plant and machinery

20% reducing balance

Fixtures, fittings & equipment

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

20% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Work in progress is valued at the lower of cost and net realisable value. Cost is determined on a weighted average basis. Net realisable value is the price at which stock can be sold in the normal course of business after allowing for the cost of realisation. A specific provision is made on a line by line basis when the stock items have been held for longer than a year.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by material timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

GOLD 2005 LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2014

549,769

Transfer out to other group company

(549,769)

At 31 October 2015

Depreciation

At 1 November 2014

367,709

Transfer out to other group company

(367,709)

At 31 October 2015

Net book value

At 31 October 2015

At 31 October 2014

182,060

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £41,317).

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The company is a wholly owned subsidiary of Pearl Centre Holdings Limited, and the ultimate parent company is FS Holdings Limited, companies registered in Jersey.true