GTEC_SOLUTIONS_LIMITED - Accounts
GTEC_SOLUTIONS_LIMITED - Accounts
Company Registration No. 08243105 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
-
Debtors
Cash at bank and in hand
-
Creditors: amounts falling due within one year
(442,570 )
(15,637 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(229 )
(119 )
11,358
9,643
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Director's responsibilities:
-
-
Approved by the Board for issue on 15 October 2016
Director
Company Registration No. 08243105
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
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
1.4
Tangible fixed assets and depreciation
Plant and machinery
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
1,060
Additions
933
At 31 March 2016
1,993
Depreciation
At 1 April 2015
464
Charge for the year
382
At 31 March 2016
846
Net book value
At 31 March 2016
1,147
At 31 March 2015
596
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4
Related party relationships and transactions
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
4
Related party relationships and transactions
(Continued)
- 3 -
Transactions with Directors
The Director has provided the company with working capital in the form of an interest free loan which is repayable on demand. As at 31st March 2016, and included within 'Creditors: amounts due within one year' is a loan from the director amounting to £50,998 (2015: £5,871).
The company operates from premises owned by the Director and his wife. During the year rent amounting to £10,000 (2015:£4,167) was payable which was considered to be on a normal commercial basis.