Abbreviated Company Accounts - GWINYAI LIMITED

Registered Number 08352908

GWINYAI LIMITED

Abbreviated Accounts

31 January 2014

GWINYAI LIMITED Registered Number 08352908

Abbreviated Balance Sheet as at 31 January 2014

	Notes	2014
		£
Fixed assets
Intangible assets		-
Tangible assets		-
Investments		-
		-
Current assets
Stocks		-
Debtors		-
Investments		-
Cash at bank and in hand		6,436
		6,436
Prepayments and accrued income		-
Creditors: amounts falling due within one year		0
Net current assets (liabilities)		6,436
Total assets less current liabilities		6,436
Creditors: amounts falling due after more than one year		0
Provisions for liabilities		0
Accruals and deferred income		0
Total net assets (liabilities)		6,436
Capital and reserves
Called up share capital		1
Share premium account		0
Revaluation reserve		0
Other reserves		0
Profit and loss account		6,435
Shareholders' funds		6,436

For the year ending 31 January 2014 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 4 October 2014

And signed on their behalf by:
Felicia GWASIRA, Director

GWINYAI LIMITED Registered Number 08352908

Notes to the Abbreviated Accounts for the period ended 31 January 2014

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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 2% on cost or revalued amounts, Plant and Machinery - 15% on cost, Fixtures and fittings - 10% on cost, Motor vehicles - 25% on cost.

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy
Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.