Gib & Cotter Interiors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07939744 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28TH FEBRUARY 2016

FOR

GIB & COTTER INTERIORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr J Foster

REGISTERED OFFICE:

2 The Glenmore Centre

Shearway Business Park

Pent Road

Folkestone

Kent

CT19 4RJ

REGISTERED NUMBER:

07939744 (England and Wales)

ACCOUNTANTS:

Millen Necker & Co.

2 The Glenmore Centre

Shearway Business Park

Pent Road

Folkestone

Kent

CT19 4RJ

FIXED ASSETS

Tangible assets

2

13,235

17,646

CURRENT ASSETS

Stocks

67,900

-

Debtors

166,112

272,642

Cash at bank and in hand

531,663

521,541

765,675

794,183

CREDITORS

Amounts falling due within one year

309,439

443,179

NET CURRENT ASSETS

456,236

351,004

TOTAL ASSETS LESS CURRENT
LIABILITIES

469,471

368,650

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

469,371

368,550

SHAREHOLDERS' FUNDS

469,471

368,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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 29th November 2016 and were signed by:

Mr J Foster - 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

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 1st March 2015

and 28th February 2016

33,876

DEPRECIATION

At 1st March 2015

16,230

Charge for year

4,411

At 28th February 2016

20,641

NET BOOK VALUE

At 28th February 2016

13,235

At 28th February 2015

17,646

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/16

28/2/15

value:

£

100

Ordinary

£1

100