GSP_VENUES_LIMITED - Accounts

GSP VENUES LIMITED - Company Information

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Company Registration No. 08279561 (England and Wales)

GSP VENUES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

GSP VENUES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GSP VENUES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

11,395

4,551

Current assets

Debtors

786,543

401,620

Cash at bank and in hand

529,929

617,080

1,316,472

1,018,700

Creditors: amounts falling due within one year

(1,252,116)

(1,021,369)

Net current assets/(liabilities)

64,356

(2,669)

Total assets less current liabilities

75,751

1,882

Capital and reserves

Called up share capital

200

Profit and loss account

75,551

1,682

Shareholders' funds

75,751

1,882

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 25 May 2016

Mr J Stevenson

Director

Company Registration No. 08279561

GSP VENUES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 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 January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Turnover is recognised to reflect the period in which the service is provided.

1.3

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:

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.4

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.

Fixed assets

Tangible assets

Cost

At 1 January 2015

6,481

Additions

10,643

At 31 December 2015

17,124

Depreciation

At 1 January 2015

1,930

Charge for the year

3,799

At 31 December 2015

5,729

Net book value

At 31 December 2015

11,395

At 31 December 2014

4,551

GSP VENUES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 'A' ordinary shares of £1 each

100

100 'B' ordinary shares of £1 each

100

200

The 'A' ordinary shares of £1 each have full rights in the company with respect to voting, dividends and distribution.

The 'B' ordinary shares of £1 each have full rights to dividends and repayment of capital at par only.

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr J Stevenson -

3.00

61,432

715,102

9,601

636,094

150,041

61,432

715,102

9,601

636,094

150,041