GBIZ IT Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08969588 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2016

for

GBIZ IT Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Stonehouse

REGISTERED OFFICE:

9 The Wynd

Marske By The Sea

Cleveland

TS11 7LD

REGISTERED NUMBER:

08969588 (England and Wales)

ACCOUNTANTS:

Wasley Chapman LLP

Chartered Accountants

1st Floor

14/16 Station Street

Saltburn

TS12 1AE

FIXED ASSETS

Tangible assets

2

6,531

418

CURRENT ASSETS

Stocks

16,402

13,597

Debtors

7,346

4,020

Cash at bank and in hand

915

3,578

24,663

21,195

CREDITORS

Amounts falling due within one year

30,007

20,978

NET CURRENT (LIABILITIES)/ASSETS

(5,344

)

217

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,187

635

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

1,087

535

SHAREHOLDERS' FUNDS

1,187

635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 25 January 2017 and were signed by:

G Stonehouse - Director

1.	ACCOUNTING POLICIES

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

776

Additions

6,908

At 30 April 2016

7,684

DEPRECIATION

At 1 May 2015

358

Charge for year

795

At 30 April 2016

1,153

NET BOOK VALUE

At 30 April 2016

6,531

At 30 April 2015

418

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100