Abbreviated Company Accounts - GLOBEX LEICESTER LTD

GLOBEX LEICESTER LTD - Company Information

Registered Number 07634337

GLOBEX LEICESTER LTD

Abbreviated Accounts

31 May 2016

GLOBEX LEICESTER LTD Registered Number 07634337

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,066	1,827
		1,066	1,827
Current assets
Debtors		4,000	-
Cash at bank and in hand		548	1,306
		4,548	1,306
Creditors: amounts falling due within one year		(28)	(381)
Net current assets (liabilities)		4,520	925
Total assets less current liabilities		5,586	2,752
Creditors: amounts falling due after more than one year		(5,600)	(4,000)
Total net assets (liabilities)		(14)	(1,248)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(15)	(1,249)
Shareholders' funds		(14)	(1,248)

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 31 January 2017

And signed on their behalf by:
Mohammed Aminur Thalukdar, Director

GLOBEX LEICESTER LTD Registered Number 07634337

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

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective from April 2008).

Turnover policy
Turnover

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT, if any and net of discounts, if any.

Tangible assets depreciation policy
Tangible fixed assets – Depreciation (MAKE SURE % ARE CORRECT FOR THIS BUSINESS)

Depreciation is provided at the following annual rates, under reducing balance method, of tangible fixed assets, if any.
Buildings 2%
Furniture & Fittings 15%
Equipment and Plant 15%
Motor vehicles 15%
No depreciation is provided on freehold land

Intangible assets amortisation policy
Intangible fixed assets

Intangible fixed assets, if any, are amortised at 15% on a straight line basis. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy
Valuation Information and Policy - Stocks

Stocks and work-in-progress are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets

	£
Cost
At 1 June 2015	3,808
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	3,808
Depreciation
At 1 June 2015	1,981
Charge for the year	761
On disposals	-
At 31 May 2016	2,742
Net book values
At 31 May 2016	1,066
At 31 May 2015	1,827