Glabid Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08802129 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

31 DECEMBER 2015 TO 29 DECEMBER 2016

FOR

GLABID LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms P A Petrou AICB CB.Cert PM

REGISTERED OFFICE:

Michael Filiou Plc

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

08802129 (England and Wales)

ACCOUNTANTS:

Michael Filiou Plc

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

CURRENT ASSETS

Stocks

-

1,042

Debtors

-

423

Cash at bank

291

3,010

291

4,475

CREDITORS

Amounts falling due within one year

6,623

1,631

NET CURRENT (LIABILITIES)/ASSETS

(6,332

)

2,844

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,332

)

2,844

CREDITORS

Amounts falling due after more than one year

51,278

43,230

NET LIABILITIES

(57,610

)

(40,386

)

CAPITAL AND RESERVES

Called up share capital

2

3

3

Profit and loss account

(57,613

)

(40,389

)

SHAREHOLDERS' FUNDS

(57,610

)

(40,386

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 14 November 2017 and were signed by:

Ms P A Petrou AICB CB.Cert PM - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in EUR. The values have been converted at an exchange rate of

1.0000 GBP = 1.1773 EUR.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. The company therefore

continues to adopt the going concern basis of accounting in preparing the financial statements.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into EUR at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into EUR at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

€

€

2

Ordinary shares

£1 = €1.3592

3

3