GEE_&_GARNHAM_(INTERNATIO - Accounts

GEE & GARNHAM (INTERNATIONAL) LIMITED - Company Information

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Company Registration No. 07772533 (England and Wales)

GEE & GARNHAM (INTERNATIONAL) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Richard Anthony

Chartered Accountants

GEE & GARNHAM (INTERNATIONAL) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

GEE & GARNHAM (INTERNATIONAL) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,349

2,212

Current assets

Stocks

121,556

189,654

Debtors

1,313,050

1,111,756

Cash at bank and in hand

130,292

386,774

1,564,898

1,688,184

Creditors: amounts falling due within one year

(325,785)

(260,023)

Net current assets

1,239,113

1,428,161

Total assets less current liabilities

1,241,462

1,430,373

Capital and reserves

Called up share capital

Share premium account

451,464

Profit and loss account

789,899

978,810

Shareholders' funds

1,241,462

1,430,373

For the financial year ended 30 September 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 26 August 2016

Mrs C Rolph

Director

Company Registration No. 07772533

GEE & GARNHAM (INTERNATIONAL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 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).

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 goods and 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:

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

GEE & GARNHAM (INTERNATIONAL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 October 2014

4,413

334,769

339,182

Additions

798

At 30 September 2015

5,211

334,769

339,980

Depreciation

At 1 October 2014

2,201

334,769

336,970

Charge for the year

661

At 30 September 2015

2,862

334,769

337,631

Net book value

At 30 September 2015

2,349

At 30 September 2014

2,212

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Emission Control Ltd

England & Wales

Ordinary

75.00

European Truck & Trailer Parts (West Africa) Ltd

Ghana

Ordinary

75.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Emission Control Ltd

Supply and cleaning of diesel particulate filters

(176,437)

(19,111)

European Truck & Trailer Parts (West Africa) Ltd

Stockists and distributors of automotive components

(743,906)

(254,514)

Share capital

2015

2014

Allotted, called up and fully paid

99 Ordinary of £1 each

GEE & GARNHAM (INTERNATIONAL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 4 -

Related party relationships and transactions

Loan to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P Clague -

3.00

27,078

21,781

1,377

50,236

27,078

21,781

1,377

50,236

During the year company charged total interest on the above loan was £1,377.

Other transactions

During the period the company sold goods and services to Emission Control Ltd and European Truck & Trailer Parts (West Africa) Ltd ("ETTP") with values of £39,532 and £118,699 respectively. The company also bought goods from them of £Nil and £1,391,792 respectively.

Both of the above are subsidiary companies of Gee & Garnham (International) Ltd.

The company also advanced net funds of £1,050,517 to ETTP during the year, and the net balance owed by ETTP to the company at the end of the year was £557,060 (2014-£638,326).