Giant Advents Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06537063

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Giant Advents Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Hobbs

J A Hobbs

R J E Mustill

SECRETARY:

R J E Mustill

REGISTERED OFFICE:

Suite 3 Warren House

10-20 Main Road

Hockley

Essex

SS5 4QS

REGISTERED NUMBER:

06537063

CURRENT ASSETS

Stocks

2,225

2,500

Debtors

1,208

4,872

Cash at bank

3,317

5,065

6,750

12,437

CREDITORS

Amounts falling due within one year

27,461

29,412

NET CURRENT LIABILITIES

(20,711

)

(16,975

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,711

)

(16,975

)

CAPITAL AND RESERVES

Called up share capital

2

4,000

Capital redemption reserve

1,000

Profit and loss account

(25,711

)

(21,975

)

SHAREHOLDERS' FUNDS

(20,711

)

(16,975

)

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 directors acknowledge their 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 Board of Directors on 19 December 2016 and were signed on its behalf
by:

A Hobbs - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. This assumes that the company will

continue in existence for the foreseeable future.

The validity of this assumption depends on the continued financial support of the directors and creditors.

If the company were unable to continue in operational existence, adjustments would have to be made to reduce

the balance sheet values of assets to their recoverable amounts, and to provide for any further liabilities that

might arise and to reclassify fixed assets as current assets. Long term liabilities would also have to be

reclassified as current liabilities.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

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 the value of sales to customers, net of discounts, allowances, volume and promotional

rebates and other payments to customers and excludes VAT.

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 arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to to pay more (or a right to pay less) tax at a future, at the tax

rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

4,000

Ordinary

£1

4,000

3.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2016 and

31 March 2015:

31.3.16

31.3.15

£

A Hobbs

Balance outstanding at start of year

542

Amounts repaid

(542

)

-

Balance outstanding at end of year

-

542

R J E Mustill

Balance outstanding at start of year

3,156

Amounts repaid

(3,156

)

-

Balance outstanding at end of year

-

3,156

All directors loans are granted on an interest free basis with no specified repayment date.