Gateway Tile and Slate Limited - Abbreviated accounts 16.3

Gateway Tile and Slate Limited - Abbreviated accounts 16.3

GATEWAY TILE AND SLATE LIMITED - Company Information

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REGISTERED NUMBER: 04254741 (England and Wales)











Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

Gateway Tile and Slate Limited

Gateway Tile and Slate Limited (Registered number: 04254741)

Contents of the Abbreviated Accounts
for the Year Ended 31 July 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Gateway Tile and Slate Limited

Company Information
for the Year Ended 31 July 2016







DIRECTORS: M D Knight
Mrs T J Nutley





REGISTERED OFFICE: The Old Tannery
Newport Industrial Estate
Launceston
Cornwall
PL15 8EX





REGISTERED NUMBER: 04254741 (England and Wales)





ACCOUNTANTS: Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX
Page 1
Gateway Tile and Slate Limited (Registered number: 04254741)

Abbreviated Balance Sheet
31 July 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 9,096 12,039

CURRENT ASSETS
Stocks 232,513 224,046
Debtors 29,565 20,903
Cash at bank and in hand 55,369 78,783
317,447 323,732
CREDITORS
Amounts falling due within one year 271,292 295,821
NET CURRENT ASSETS 46,155 27,911
TOTAL ASSETS LESS CURRENT
LIABILITIES
55,251
39,950

PROVISIONS FOR LIABILITIES 1,800 1,600
NET ASSETS 53,451 38,350

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 53,351 38,250
SHAREHOLDERS' FUNDS 53,451 38,350

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 22 April 2017 and were signed on its behalf by:





Mrs T J Nutley - Director


The notes form part of these abbreviated accounts

Page 2
Gateway Tile and Slate Limited (Registered number: 04254741)

Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016


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. Revenue is recognised as the right
to consideration is obtained through performance of contractual obligation.

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 etc - 25% on reducing balance and 20% 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately
from those of the company in an independently administered fund. Contributions payable to the company's
pension scheme are charged to the profit and loss account in the period to which they relate. No contributions
were payable for the year. No amounts were outstanding at the end of the year.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2015 64,333
Disposals (3,055 )
At 31 July 2016 61,278
DEPRECIATION
At 1 August 2015 52,294
Charge for year 2,686
Eliminated on disposal (2,798 )
At 31 July 2016 52,182
NET BOOK VALUE
At 31 July 2016 9,096
At 31 July 2015 12,039

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

Page 3