GBR1 Limited - Period Ending 2016-12-31

GBR1 Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2016

Registration number: 06443694

GBR1 Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

GBR1 Limited

Balance Sheet

31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	1,437	98
Current assets
Cash at bank and in hand		5,542	107
Creditors: Amounts falling due within one year	5	(37,095)	(14,842)
Net current liabilities		(31,553)	(14,735)
Total assets less current liabilities		(30,116)	(14,637)
Provisions for liabilities		(93)	(19)
Net liabilities		(30,209)	(14,656)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(30,210)	(14,657)
Total equity		(30,209)	(14,656)

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

GBR1 Limited

Balance Sheet

31 December 2016

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 September 2017
 

N Dempsey

Director

Company Registration Number: 06443694

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

GBR1 Limited

Notes to the Financial Statements

Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW

The principal place of business is:
51 Blake Dene Road
Lilliput
Poole
Dorset
BH14 8HF

These financial statements were authorised for issue by the director on 29 September 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 01 January 2015.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the director.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 3

GBR1 Limited

Notes to the Financial Statements

Year Ended 31 December 2016

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	3 years straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2015 - 1).

Page 4

GBR1 Limited

Notes to the Financial Statements

Year Ended 31 December 2016

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2016	11,643	11,643
Additions	2,155	2,155
At 31 December 2016	13,798	13,798
Depreciation
At 1 January 2016	10,577	10,577
Charge for the year	1,784	1,784
At 31 December 2016	12,361	12,361
Carrying amount
At 31 December 2016	1,437	1,437
At 31 December 2015	98	98

5

Creditors

	2016  £	2015  £
Due within one year
Other creditors	36,395	13,989
Accrued expenses	700	853
	37,095	14,842

6	Transition to FRS 102

This is the first year that the accounts have been prepared under FRS 102, however, this has not affected the financial position of the comparative figures.

Page 5