JOHN_GALE_LIMITED - Accounts

JOHN GALE LIMITED - Company Information

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Company Registration No. 00603520 (England and Wales)

JOHN GALE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

JOHN GALE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

JOHN GALE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

734,268

734,933

Investments

49,591

49,381

783,859

784,314

Current assets

Stocks

123,207

116,910

Debtors

94,822

35,604

Cash at bank and in hand

93,053

95,424

311,082

247,938

Creditors: amounts falling due within one year

(92,533)

(78,879)

Net current assets

218,549

169,059

Total assets less current liabilities

1,002,408

953,373

Provisions for liabilities

(6,032)

(7,608)

996,376

945,765

Capital and reserves

Called up share capital

47,638

Profit and loss account

948,738

898,127

Shareholders' funds

996,376

945,765

JOHN GALE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 June 2017

Mrs E M Gale

Miss M E Gale

Director

Company Registration No. 00603520

JOHN GALE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings

Nil

Leasehold land and buildings

10% straight line

Plant and machinery

15/25% reducing balance

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% reducing balance

Freehold property is maintained such that the difference between cost and residual value would result in any depreciation charge and accumulated depreciation being immaterial.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

JOHN GALE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 October 2015

1,003,846

49,381

1,053,227

Additions

16,197

210

16,407

At 30 September 2016

1,020,043

49,591

1,069,634

Depreciation

At 1 October 2015

268,913

Charge for the year

16,862

At 30 September 2016

285,775

Net book value

At 30 September 2016

734,268

49,591

783,859

At 30 September 2015

734,933

49,381

784,314

The current market value of the listed investments is approximately £51,369.

Share capital

2016

2015

Allotted, called up and fully paid

23,594 'A' Ordinary shares of £1 each

23,594

23,594 Ordinary deferred shares of £1 each

23,594

450 'B' Ordinary shares of £1 each

450

47,638

JOHN GALE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 5 -

Related party relationships and transactions

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr J Gale - Directors loan account

(416)

2,036

1,620

(416)

2,036

1,620