Abbreviated Company Accounts - GIFT & COMMUNICATION LIMITED

GIFT & COMMUNICATION LIMITED - Company Information

06266904 GIFT & COMMUNICATION LIMITED 2016-06-30 false 2015-07-01 2016-06-30 true 06266904 2015-07-01 2016-06-30 06266904 2016-06-30 06266904 2015-06-30 06266904 uk-gaap-cd-bus:Director1 2015-07-01 2016-06-30 06266904 uk-gaap-cd-bus:Director2 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 06266904

GIFT & COMMUNICATION LIMITED

Abbreviated Accounts

30 June 2016

GIFT & COMMUNICATION LIMITED Registered Number 06266904

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	12,391	13,421
		12,391	13,421
Current assets
Stocks		576,484	409,906
Debtors		53,818	27,415
Cash at bank and in hand		174,498	113,384
		804,800	550,705
Creditors: amounts falling due within one year		(398,969)	(213,654)
Net current assets (liabilities)		405,831	337,051
Total assets less current liabilities		418,222	350,472
Total net assets (liabilities)		418,222	350,472
Capital and reserves
Called up share capital	3	1,000	1,000
Share premium account		-	23,906
Profit and loss account		417,222	325,566
Shareholders' funds		418,222	350,472

For the year ending 30 June 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 29 March 2017

And signed on their behalf by:
Mrs L Marvillet, Director

GIFT & COMMUNICATION LIMITED Registered Number 06266904

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Other accounting policies
STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Tangible fixed assets

	£
Cost
At 1 July 2015	22,136
Additions	1,518
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	23,654
Depreciation
At 1 July 2015	8,715
Charge for the year	2,548
On disposals	-
At 30 June 2016	11,263
Net book values
At 30 June 2016	12,391
At 30 June 2015	13,421

3Called Up Share Capital
Allotted, called up and fully paid:

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