GAS-JET Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03069008 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

GAS-JET LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

K P Mogg

SECRETARY:

Mrs P Mogg

REGISTERED OFFICE:

City Arms House

127 London Road

Stone

Dartford

Kent

DA2 6BH

REGISTERED NUMBER:

03069008 (England and Wales)

ACCOUNTANTS:

WBD Accountants Limited

Marlbridge House

Enterprise Way

Edenbridge

Kent

TN8 6HF

FIXED ASSETS

Tangible assets

2

24,690

18,498

CURRENT ASSETS

Stocks

20,000

Debtors

39,022

47,079

Cash at bank and in hand

71,144

77,953

130,166

145,032

CREDITORS

Amounts falling due within one year

50,031

57,755

NET CURRENT ASSETS

80,135

87,277

TOTAL ASSETS LESS CURRENT
LIABILITIES

104,825

105,775

PROVISIONS FOR LIABILITIES

4,938

-

NET ASSETS

99,887

105,775

CAPITAL AND RESERVES

Called up share capital

3

6

Profit and loss account

99,881

105,769

SHAREHOLDERS' FUNDS

99,887

105,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 14 November 2016 and were signed by:

K P Mogg - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

56,102

Additions

15,872

Disposals

(10,868

)

At 31 March 2016

61,106

DEPRECIATION

At 1 April 2015

37,604

Charge for year

8,229

Eliminated on disposal

(9,417

)

At 31 March 2016

36,416

NET BOOK VALUE

At 31 March 2016

24,690

At 31 March 2015

18,498

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

6

Ordinary

1

6