Abbreviated Company Accounts - DAVIS AND GIBBS LIMITED

DAVIS AND GIBBS LIMITED - Company Information

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Registered Number 05575163

DAVIS AND GIBBS LIMITED

Abbreviated Accounts

31 December 2015

DAVIS AND GIBBS LIMITED Registered Number 05575163

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	3,164	4,546
		3,164	4,546
Current assets
Debtors		135,852	242,336
Cash at bank and in hand		87	23,149
		135,939	265,485
Prepayments and accrued income		14,266	14,218
Creditors: amounts falling due within one year		(116,559)	(246,641)
Net current assets (liabilities)		33,646	33,062
Total assets less current liabilities		36,810	37,608
Accruals and deferred income		(5,083)	(3,047)
Total net assets (liabilities)		31,727	34,561
Capital and reserves
Called up share capital	3	31,000	31,000
Profit and loss account		727	3,561
Shareholders' funds		31,727	34,561

For the year ending 31 December 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 26 September 2016

And signed on their behalf by:
B J Gibbs, Director
S Davis, Director

DAVIS AND GIBBS LIMITED Registered Number 05575163

Notes to the Abbreviated Accounts for the period ended 31 December 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 the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company’s ordinary activities.

Tangible assets depreciation policy
Leasehold properties - straight line over the life of the lease
Fixtures, fitting and equipment - 25% straight line

2Tangible fixed assets

	£
Cost
At 1 January 2015	49,857
Additions	3,005
Disposals	(17,289)
Revaluations	-
Transfers	-
At 31 December 2015	35,573
Depreciation
At 1 January 2015	45,311
Charge for the year	1,965
On disposals	(14,867)
At 31 December 2015	32,409
Net book values
At 31 December 2015	3,164
At 31 December 2014	4,546

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
31,000 Ordinary shares of £1 each	31,000	31,000

4Transactions with directors

Name of director receiving advance or credit:	B J Gibbs
Description of the transaction:	Advances to director
Balance at 1 January 2015:	£ 116,417
Advances or credits made:	-
Advances or credits repaid:	£ 57,586
Balance at 31 December 2015:	£ 58,831

Name of director receiving advance or credit:	S Davis
Description of the transaction:	Advances to director
Balance at 1 January 2015:	£ 111,692
Advances or credits made:	-
Advances or credits repaid:	£ 57,422
Balance at 31 December 2015:	£ 54,270

A further interim dividend of £70,000 was declared and paid on 26 September, within 9 months of the year end.