Abbreviated Company Accounts - GLENFERN TRADING LIMITED

GLENFERN TRADING LIMITED - Company Information

Registered Number 06312950

GLENFERN TRADING LIMITED

Abbreviated Accounts

31 October 2015

GLENFERN TRADING LIMITED Registered Number 06312950

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	911,610	934,030
Investments		-	-
		911,610	934,030
Current assets
Stocks		784,845	794,015
Debtors		149,607	100,466
Investments		-	-
Cash at bank and in hand		58,853	60,975
		993,305	955,456
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(1,205,580)	(1,026,838)
Net current assets (liabilities)		(212,275)	(71,382)
Total assets less current liabilities		699,335	862,648
Creditors: amounts falling due after more than one year		(74,070)	(115,336)
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		625,265	747,312
Capital and reserves
Called up share capital		1,300,000	1,300,000
Profit and loss account		(674,735)	(552,688)
Shareholders' funds		625,265	747,312

For the year ending 31 October 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 July 2016

And signed on their behalf by:
J E Thomas, Director

GLENFERN TRADING LIMITED Registered Number 06312950

Notes to the Abbreviated Accounts for the period ended 31 October 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold property 2% on cost
Plant and machinery 25% reducing balance
Fixtures and fittings 25% on cost

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2Tangible fixed assets

	£
Cost
At 1 November 2014	1,087,984
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 31 October 2015	1,087,984
Depreciation
At 1 November 2014	153,954
Charge for the year	22,420
On disposals	0
At 31 October 2015	176,374
Net book values
At 31 October 2015	911,610
At 31 October 2014	934,030