Global Retail Europe Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09100467 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Global Retail Europe Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R Gachcar Moghadam

Miss D Litwin

SECRETARY:

REGISTERED OFFICE:

5 Birnham Place

Newcastle Upon Tyne

Tyne and Wear

NE3 4RB

REGISTERED NUMBER:

09100467 (England and Wales)

ACCOUNTANTS:

G D O'Hehir & Co Ltd

Chartered Accountants

22/23 Clyde Terrace

Spennymoor

Co. Durham

DL16 7SE

FIXED ASSETS

Tangible assets

2

1,280

CURRENT ASSETS

Stocks

100

Debtors

77

Cash at bank

12,717

12,894

CREDITORS

Amounts falling due within one year

16,525

NET CURRENT LIABILITIES

(3,631

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,351

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(2,353

)

SHAREHOLDERS' FUNDS

(2,351

)

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

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

The directors acknowledge their 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 Board of Directors on 10 February 2017 and were signed on its behalf by:

R Gachcar Moghadam - 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.

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

Additions

1,600

At 30 June 2016

1,600

DEPRECIATION

Charge for year

320

At 30 June 2016

320

NET BOOK VALUE

At 30 June 2016

1,280

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

ordinary chares

£1

2

2 ordinary chares shares of £1 each were allotted and fully paid for cash at par during the year.