Abbreviated Company Accounts - GYL LIMITED

06585490 GYL LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 06585490 2015-06-01 2016-05-31 06585490 2016-05-31 06585490 2015-05-31 06585490 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 06585490 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 06585490

GYL LIMITED

Abbreviated Accounts

31 May 2016

GYL LIMITED Registered Number 06585490

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	706	-
		706	-
Current assets
Debtors	3	67,982	945
Cash at bank and in hand		58,196	115,017
		126,178	115,962
Creditors: amounts falling due within one year		(47,636)	(41,121)
Net current assets (liabilities)		78,542	74,841
Total assets less current liabilities		79,248	74,841
Creditors: amounts falling due after more than one year		-	(500)
Total net assets (liabilities)		79,248	74,341
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		78,248	73,341
Shareholders' funds		79,248	74,341

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 7 February 2017

And signed on their behalf by:
L Crozier, Director

GYL LIMITED Registered Number 06585490

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Turnover policy
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
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 etc - 33% on cost

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2Tangible fixed assets

	£
Cost
At 1 June 2015	-
Additions	1,059
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	1,059
Depreciation
At 1 June 2015	-
Charge for the year	353
On disposals	-
At 31 May 2016	353
Net book values
At 31 May 2016	706
At 31 May 2015	-

3Debtors

	2016 £	2015 £
Debtors include the following amounts due after more than one year	50,000	0

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1,000 Ordinary shares of £1 each	1,000	1,000