GLADSTONE & MAY DEVELOPMENT LIMITED Small abbreviated accounts

GLADSTONE & MAY DEVELOPMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 08244986

GLADSTONE & MAY DEVELOPMENT LIMITED

ABBREVIATED ACCOUNTS

31 October 2015

GLADSTONE & MAY DEVELOPMENT LIMITED

ABBREVIATED BALANCE SHEET

31 October 2015

	2015	2014
Note	£	£

Current assets

Stocks	279,932	273,692
Debtors	561	6,958
Cash at bank and in hand	110	315
	---------	---------
	280,603	280,965
Creditors: Amounts falling due within one year	( 340,138)	( 300,958)
	---------	---------
Net current liabilities	( 59,535)	( 19,993)
	--------	--------
Total assets less current liabilities	( 59,535)	( 19,993)
	--------	--------

Capital and reserves

Called up equity share capital	2	100	100
Profit and loss account		( 59,635)	( 20,093)
		--------	--------
Deficit		( 59,535)	( 19,993)
		--------	--------

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 31 October 2016 , and are signed on their behalf by:

.........................

J Davies Director

Company Registration Number: 08244986

GLADSTONE & MAY DEVELOPMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 OCTOBER 2015

1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.

Cash flow statement

The directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive the support from the company directors.

2. Share capital

Allotted, called up and fully paid:

	2015		2014
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

3. Going concern

The directors' have reviewed the company's trading and cashflow position and have provided assurances that they will continue to provide support to the company in order that it may continue its activities, as hitherto. Consequently the director's are of the opinion that the financial statements should be prepared on a going concern basis.