Glabid Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08802129 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1 JANUARY 2015 TO 30 DECEMBER 2015

FOR

GLABID LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms P A Petrou AICB CB.Cert PM.Dip

REGISTERED OFFICE:

C/O Michael Filiou Plc

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

08802129 (England and Wales)

ACCOUNTANTS:

Michael Filiou Plc

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

CURRENT ASSETS

Stocks

1,042

Debtors

423

3,258

Cash at bank

3,010

3,409

4,475

7,709

CREDITORS

Amounts falling due within one year

1,631

4,275

NET CURRENT ASSETS

2,844

3,434

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,844

3,434

CREDITORS

Amounts falling due after more than one
year

43,230

18,504

NET LIABILITIES

(40,386

)

(15,070

)

CAPITAL AND RESERVES

Called up share capital

2

3

Profit and loss account

(40,389

)

(15,073

)

SHAREHOLDERS' FUNDS

(40,386

)

(15,070

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 21 November 2016 and were signed by:

Ms P A Petrou AICB CB.Cert PM.Dip - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in EUR. The values have been converted at an exchange rate of

1.0000 GBP = 1.3592 EUR.

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.

Stocks

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

moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into EUR at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into EUR at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

€

2

Ordinary shares

£1 =€1.3592

3