Abbreviated Company Accounts - GULF POLYMER SYSTEMS LTD

GULF POLYMER SYSTEMS LTD - Company Information

08943703 GULF POLYMER SYSTEMS LTD 2016-03-31 false 2015-04-01 2016-03-31 true 08943703 2015-04-01 2016-03-31 08943703 2016-03-31 08943703 2015-03-31 08943703 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 08943703 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 08943703

GULF POLYMER SYSTEMS LTD

Abbreviated Accounts

31 March 2016

GULF POLYMER SYSTEMS LTD Registered Number 08943703

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	40,671	-
		40,671	-
Current assets
Stocks		3,696	-
Debtors		4,113	-
Investments		-	-
Cash at bank and in hand		48,607	9
		56,416	9
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(37,466)	(3,776)
Net current assets (liabilities)		18,950	(3,767)
Total assets less current liabilities		59,621	(3,767)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		59,621	(3,767)
Capital and reserves
Called up share capital	3	100	100
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		59,521	(3,867)
Shareholders' funds		59,621	(3,767)

For the year ending 31 March 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 29 November 2016

And signed on their behalf by:
Mr C Davies, Director

GULF POLYMER SYSTEMS LTD Registered Number 08943703

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historial cost convention and comply with financial reporting standards of the Accounting Standards Board.

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

Intangible assets amortisation policy
Depreciation is provided at the rates calculated to write off the cost less residual value fo each asset over its expected useful life, as follows:-
Plant & machinery - 15% reducing balance basis.

Valuation information and policy
Stock - is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 April 2015	0
Additions	47,848
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2016	47,848
Depreciation
At 1 April 2015	0
Charge for the year	7,177
On disposals	0
At 31 March 2016	7,177
Net book values
At 31 March 2016	40,671
At 31 March 2015	0

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100