Abbreviated Company Accounts - GALAXY FIREWORKS LIMITED

GALAXY FIREWORKS LIMITED - Company Information

Registered Number NI033439

GALAXY FIREWORKS LIMITED

Abbreviated Accounts

30 April 2016

GALAXY FIREWORKS LIMITED Registered Number NI033439

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	546,590	552,498
		546,590	552,498
Current assets
Debtors		44,556	71,140
Cash at bank and in hand		4,966	17,663
		49,522	88,803
Creditors: amounts falling due within one year		(138,719)	(223,175)
Net current assets (liabilities)		(89,197)	(134,372)
Total assets less current liabilities		457,393	418,126
Creditors: amounts falling due after more than one year		0	(6,327)
Total net assets (liabilities)		457,393	411,799
Capital and reserves
Called up share capital		265,000	265,000
Profit and loss account		192,393	146,799
Shareholders' funds		457,393	411,799

For the year ending 30 April 2016 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 23 September 2016

And signed on their behalf by:
Mr. Paul Kelly, Director
Mr. Brian Kelly, Director

GALAXY FIREWORKS LIMITED Registered Number NI033439

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Land and Buildings - 2% Straight Line
Fixtures, Fittings and Equipment - 15% Straight Line

2Tangible fixed assets

	£
Cost
At 1 May 2015	636,569
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	636,569
Depreciation
At 1 May 2015	84,071
Charge for the year	5,908
On disposals	-
At 30 April 2016	89,979
Net book values
At 30 April 2016	546,590
At 30 April 2015	552,498