E GANDOLFI LTD - Abbreviated accounts 16.1

REGISTERED NUMBER: 00464827 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 January 2016

for

E GANDOLFI LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr D Gandolfi

Mrs M C Gandolfi

Mr M A Gandolfi

SECRETARY:

Mrs M C Gandolfi

REGISTERED OFFICE:

24A Alderman's Hill

Palmers Green

London

N13 4PN

REGISTERED NUMBER:

00464827 (England and Wales)

ACCOUNTANTS:

Peter Alexander and Co

24A Alderman's Hill

Palmers Green

London

N13 4PN

FIXED ASSETS

Tangible assets

2

30,761

11,513

Investments

3

1,000

31,761

12,513

CURRENT ASSETS

Stocks

74,360

69,380

Debtors

54,944

64,843

Cash at bank and in hand

9,386

16,995

138,690

151,218

CREDITORS

Amounts falling due within one year

67,969

53,395

NET CURRENT ASSETS

70,721

97,823

TOTAL ASSETS LESS CURRENT
LIABILITIES

102,482

110,336

CREDITORS

Amounts falling due after more than one
year

4

51,248

61,082

NET ASSETS

51,234

49,254

CAPITAL AND RESERVES

Called up share capital

5

17,500

Share premium

73,125

Profit and loss account

(39,391

)

(41,371

)

SHAREHOLDERS' FUNDS

51,234

49,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 1 June 2016 and were signed on its behalf by:

Mr D Gandolfi - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the

exemption provided by Section 248 of the Companies Act 1985 not to prepare group accounts. The financial

statements therefore present information about the company as a an individual undertaking and not about its

group.

Accounting convention

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 invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

141,999

Additions

36,704

At 31 January 2016

178,703

DEPRECIATION

At 1 February 2015

130,486

Charge for year

17,456

At 31 January 2016

147,942

NET BOOK VALUE

At 31 January 2016

30,761

At 31 January 2015

11,513

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 February 2015

and 31 January 2016

1,000

NET BOOK VALUE

At 31 January 2016

1,000

At 31 January 2015

1,000

The amount shown above represents the cost of acquisition of the whole of the issued share capital of Gandolfi

(Sports) Limited, a company registered in England and Wales, which comprises of 1000 ordinary shares of £1

each. The subsidiary undertaking did not trade in the year other than hold a freehold investment property.

The aggregate of the share capital and reserves of Gandolfi (Sports) Limited at its year end of 31 January 2016

was £150,012 (2015: £150,312). The results of the company for the year ended 31st January 2016 was (£300) ,

(2015: £(19).

4.

CREDITORS

The bank overdraft of £36,578 (2005: £34506) and the total bank loan of £128,827 (2005: £128,606) is secured

by a fixed and floating charge over the assets of the company.

Creditors which include debts falling in more than five years relate to bank loans and total £90787 (2005:

£90566)

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

17,500

Ordinary

1

17,500