Gilcrest Services Limited - Period Ending 2016-07-31

Registration number: 02800209

Gilcrest Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Acumist
PO Box 61
KNEBWORTH
Hertfordshire
SG3 6WR

Gilcrest Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Gilcrest Services Limited
(Registration number: 02800209)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					17,824			17,824
Current assets
Stocks					22,139			-
Debtors					325			450
Cash at bank and in hand					9,440			5,270
					31,904			5,720
Creditors: Amounts falling due within one year					(162,873)			(145,948)
Net current liabilities					(130,969)			(140,228)
Net liabilities					(113,145)			(122,404)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(113,245)			(122,504)
Shareholders' deficit					(113,145)			(122,404)

For the year ending 31 July 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 director acknowledges his 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 director on 18 November 2016

.........................................
Mr Anthony John Heywood
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Gilcrest Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

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

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the costs or valuation, less any estimated residual value, over their useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	0%

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Gilcrest Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		25,646			25,646
At 31 July 2016		25,646			25,646
Depreciation
At 1 August 2015		7,822			7,822
At 31 July 2016		7,822			7,822
Net book value
At 31 July 2016		17,824			17,824
At 31 July 2015		17,824			17,824

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3