Accounts filed on 31-03-2016
Accounts filed on 31-03-2016
trueGEMINI CARDS AND GIFTS LTDSC1655092016-03-31-6816-7449318425511000010000318425513184255128802058256213238928501344473752668281103165316126304493304493Basis of accounting
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).
The accounts have been prepared on a going concern basis as the directors feel that it is appropriate to do so. In coming to this conclusion, the directors confirm that they will continue to support the company for a period of at least twelve months from the date of approval of these financial statements.
Turnover
The turnover shown in the profit and loss account represents cash sales of goods, net of Value Added Tax.
Sales of goods are recognised when cash is received and recorded in till receipts.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Plant & MachineryReducing balance0.2000Fixtures & FittingsReducing balance0.2000Computer EquipmentStraight line0.33331681916819165151632618916819168191651516326189Ordinary5000015000050000Ordinary1100001000010000Mrs J Fairbairn is reimbursed by the company at 25 pence per mile for the use of her privately owned car.
Mr S Fairbairn, Mrs Fairbairn's husband, has advanced a loan account to the company of £4,000 and this amount is outstanding as at 31 March 2016 (2015 - £4,000). This amount is unsecured, interest free and has no fixed terms for repayment.2016-12-22S Stewarttruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGEMINI CARDS AND GIFTS LTD2015-04-012016-03-31GEMINI CARDS AND GIFTS LTD2014-04-012015-03-31GEMINI CARDS AND GIFTS LTD2014-03-31GEMINI CARDS AND GIFTS LTD2015-03-31GEMINI CARDS AND GIFTS LTD2015-03-31GEMINI CARDS AND GIFTS LTD2016-03-31 2016-12-23
