Gilead Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04395376

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

GILEAD LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

E S Szkiler

N J Szkiler

SECRETARY:

N J Szkiler

REGISTERED OFFICE:

Corner Farm

West Knapton

Malton

YO17 8JB

REGISTERED NUMBER:

04395376

ACCOUNTANTS:

ADDICUS

Chartered Accountants

1 Winchester Place

North Street

Poole

Dorset

BH15 1NX

FIXED ASSETS

Tangible assets

2

13,229

8,989

CURRENT ASSETS

Stocks

10,009

21,938

Debtors

19,263

1,746

Investments

7,382

-

Cash at bank

32,438

19,549

69,092

43,233

CREDITORS

Amounts falling due within one year

122,519

113,801

NET CURRENT LIABILITIES

(53,427

)

(70,568

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,198

)

(61,579

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(40,298

)

(61,679

)

SHAREHOLDERS' FUNDS

(40,198

)

(61,579

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 27 March 2017 and were signed on its
behalf by:

N J Szkiler - 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).

The financial statements have been prepared under the historical cost convention and in accordance

with generally accepted accounting principles.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year,

exclusive of 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

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

38,742

Additions

8,650

At 31 March 2016

47,392

DEPRECIATION

At 1 April 2015

29,753

Charge for year

4,410

At 31 March 2016

34,163

NET BOOK VALUE

At 31 March 2016

13,229

At 31 March 2015

8,989

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100