Abbreviated Company Accounts - IN-RESIDENCE GB LIMITED

IN-RESIDENCE GB LIMITED - Company Information

06550292 IN-RESIDENCE GB LIMITED 2013-03-31 false 2012-04-01 2013-03-31 true 06550292 2012-04-01 2013-03-31 06550292 2013-03-31 06550292 2012-03-31 06550292 uk-gaap-cd-bus:Director1 2012-04-01 2013-03-31 06550292 uk-gaap-cd-bus:Director2 2012-04-01 2013-03-31 uk-gaap-cd-bus:Director3 2012-04-01 2013-03-31 uk-gaap-cd-bus:Director3 2013-03-31 uk-gaap-cd-bus:Director3 2012-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-04-01 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-04-01 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-03-31 iso4217:GBP shares

Registered Number 06550292

IN-RESIDENCE GB LIMITED

Abbreviated Accounts

31 March 2013

IN-RESIDENCE GB LIMITED Registered Number 06550292

Abbreviated Balance Sheet as at 31 March 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	744	1,496
		744	1,496
Current assets
Stocks		1,300,000	1,300,000
Debtors	3	131,962	492,333
Cash at bank and in hand		1,648	60,128
		1,433,610	1,852,461
Creditors: amounts falling due within one year		(1,669,580)	(1,726,007)
Net current assets (liabilities)		(235,970)	126,454
Total assets less current liabilities		(235,226)	127,950
Total net assets (liabilities)		(235,226)	127,950
Capital and reserves
Called up share capital	4	101	100
Profit and loss account		(235,327)	127,850
Shareholders' funds		(235,226)	127,950

For the year ending 31 March 2013 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 30 October 2014

And signed on their behalf by:
J Bresnahan, Director

IN-RESIDENCE GB LIMITED Registered Number 06550292

Notes to the Abbreviated Accounts for the period ended 31 March 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods excluding VAT

Tangible assets depreciation policy
Depreciation is provided in order to write off the asset over its estimated useful life of 3 years

Other accounting policies
Basis of Preparing the Financial Statements
These accounts have been prepared on a going concern basis despite liabilities exceeding assets on the basis that the company is engaged in a development project which will create profits once realised There is no danger of creditors withdrawing funding

Work In Progress
Is valued at the lower of cost or net realisable value and includes direct costs and an appropriate proportion of fixed and variable overheads

2Tangible fixed assets

	£
Cost
At 1 April 2012	2,233
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2013	2,233
Depreciation
At 1 April 2012	737
Charge for the year	752
On disposals	-
At 31 March 2013	1,489
Net book values
At 31 March 2013	744
At 31 March 2012	1,496

3Debtors

No debt is due after 12 months and are all collectable

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

	2013 £	2012 £
100 Ordinary shares of £1 each	100	100
1 A Ordinary shares of £1 each (0 shares for 2012)	1	0

5Transactions with directors

Name of director receiving advance or credit:	J Bresnahan
Description of the transaction:	Funding Transactions
Balance at 1 April 2012:	£ 235,371
Advances or credits made:	-
Advances or credits repaid:	£ 133,030
Balance at 31 March 2013:	£ 102,341