Gallagher & Richards Developments Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04114509 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2016

FOR

GALLAGHER & RICHARDS DEVELOPMENTS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J O Gallagher

P W Richards

SECRETARY:

J O Gallagher

REGISTERED OFFICE:

Warren Joinery

Single Street

Berrys Green

Westerham

Kent

TN16 3AB

REGISTERED NUMBER:

04114509 (England and Wales)

ACCOUNTANTS:

Greenaway Chartered Accountants

150 High Street

Sevenoaks

Kent

TN13 1XE

FIXED ASSETS

Tangible assets

2

723,742

728,021

CURRENT ASSETS

Stocks

1,751,160

1,378,886

Debtors

4,395

20,191

Cash at bank and in hand

38,285

582,479

1,793,840

1,981,556

CREDITORS

Amounts falling due within one year

1,338,454

752,401

NET CURRENT ASSETS

455,386

1,229,155

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,179,128

1,957,176

CREDITORS

Amounts falling due after more than one
year

3

(355,978

)

(961,568

)

PROVISIONS FOR LIABILITIES

(2,818

)

(3,535

)

NET ASSETS

820,332

992,073

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

819,332

991,073

SHAREHOLDERS' FUNDS

820,332

992,073

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 16 August 2017 and were signed on its
behalf by:

J O Gallagher - Director

P W Richards - 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).

Turnover

Turnover represents net invoiced sales of goods, excluding 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 etc

-

25% on reducing balance, 25% on cost and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

875,063

Additions

725

At 30 November 2016

875,788

DEPRECIATION

At 1 December 2015

147,042

Charge for year

5,004

At 30 November 2016

152,046

NET BOOK VALUE

At 30 November 2016

723,742

At 30 November 2015

728,021

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30/11/16

30/11/15

£

Repayable by instalments

230,633

269,430

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/16

30/11/15

value:

£

500

Ordinary A

£1

500

Ordinary B

£1

500

1,000