Abbreviated Company Accounts - GAY STAR NEWS LTD

Registered Number 07719609

GAY STAR NEWS LTD

Abbreviated Accounts

31 December 2015

GAY STAR NEWS LTD Registered Number 07719609

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	12,132	7,130
		12,132	7,130
Current assets
Debtors		63,501	31,785
Cash at bank and in hand		6,559	14,608
		70,060	46,393
Creditors: amounts falling due within one year		(177,351)	(143,130)
Net current assets (liabilities)		(107,291)	(96,737)
Total assets less current liabilities		(95,159)	(89,607)
Creditors: amounts falling due after more than one year		(195,454)	(195,454)
Total net assets (liabilities)		(290,613)	(285,061)
Capital and reserves
Called up share capital		371	325
Share premium account		182,667	102,713
Profit and loss account		(473,651)	(388,099)
Shareholders' funds		(290,613)	(285,061)

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 28 September 2016

And signed on their behalf by:
S Nunn, Director
T Reid-Smith, Director

GAY STAR NEWS LTD Registered Number 07719609

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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Office equipment Straight line 30%

Other accounting policies
The company is controlled by the directors who own 67.5% of the called up share capital.

2Tangible fixed assets

	£
Cost
At 1 January 2015	18,805
Additions	12,636
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	31,441
Depreciation
At 1 January 2015	11,675
Charge for the year	7,634
On disposals	-
At 31 December 2015	19,309
Net book values
At 31 December 2015	12,132
At 31 December 2014	7,130