Abbreviated Company Accounts - GALVEN LIMITED

Registered Number 04311763

GALVEN LIMITED

Abbreviated Accounts

31 October 2016

GALVEN LIMITED Registered Number 04311763

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	12,039	8,909
		12,039	8,909
Current assets
Stocks		2,859	-
Debtors		238,672	96,739
Cash at bank and in hand		891	7,681
		242,422	104,420
Creditors: amounts falling due within one year		(210,723)	(53,650)
Net current assets (liabilities)		31,699	50,770
Total assets less current liabilities		43,738	59,679
Creditors: amounts falling due after more than one year		(28,598)	(48,623)
Provisions for liabilities		(2,322)	(1,935)
Total net assets (liabilities)		12,818	9,121
Capital and reserves
Called up share capital		100	100
Profit and loss account		12,718	9,021
Shareholders' funds		12,818	9,121

For the year ending 31 October 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 12 June 2017

And signed on their behalf by:
G Micciche, Director

GALVEN LIMITED Registered Number 04311763

Notes to the Abbreviated Accounts for the period ended 31 October 2016

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 January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Office Equipment 30% reducing balance

Other accounting policies
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Tangible fixed assets

	£
Cost
At 1 November 2015	19,888
Additions	8,955
Disposals	(950)
Revaluations	-
Transfers	-
At 31 October 2016	27,893
Depreciation
At 1 November 2015	10,979
Charge for the year	5,160
On disposals	(285)
At 31 October 2016	15,854
Net book values
At 31 October 2016	12,039
At 31 October 2015	8,909