GENTECH_PRODUCTS_(TELFORD - Accounts

GENTECH_PRODUCTS_(TELFORD - Accounts

GENTECH PRODUCTS (TELFORD) LIMITED - Company Information

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Company Registration No. 06990591 (England and Wales)
GENTECH PRODUCTS (TELFORD) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
GENTECH PRODUCTS (TELFORD) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GENTECH PRODUCTS (TELFORD) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
39,082
43,645
Current assets
Stocks
42,855
37,717
Debtors
262,032
196,179
Cash at bank and in hand
138,197
126,460
443,084
360,356
Creditors: amounts falling due within one year
(296,806)
(253,583)
Net current assets
146,278
106,773
Total assets less current liabilities
185,360
150,418
Creditors: amounts falling due after more than one year
(38,388)
(29,520)
146,972
120,898
Capital and reserves
Called up share capital
3
200
200
Profit and loss account
146,772
120,698
Shareholders'  funds
146,972
120,898
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 6 January 2017
Mr C R Johnson
Director
Company Registration No. 06990591
GENTECH PRODUCTS (TELFORD) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Straight line over the life of the lease
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis over the life of the agreement.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
GENTECH PRODUCTS (TELFORD) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
70,567
Additions
14,419
Disposals
(13,995)
At 30 September 2016
70,991
Depreciation
At 1 October 2015
26,922
On disposals
(8,091)
Charge for the year
13,078
At 30 September 2016
31,909
Net book value
At 30 September 2016
39,082
At 30 September 2015
43,645
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
100 A Ordinary shares of £1 each
100
100
200
200
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