The Gilt Club Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 10022298 (England and Wales)

Unaudited Financial Statements

for the Period 23 February 2016 to 28 February 2017

for

The Gilt Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Orr

R Beaton

P Brown

T Powell-Blyth

REGISTERED OFFICE:

8 St James's Square

London

SW1Y 4JU

REGISTERED NUMBER:

10022298 (England and Wales)

ACCOUNTANTS:

Grafton Jones

Chartered Tax Advisers & Business Accountants

2 New Road

Chippenham

Wiltshire

SN15 1EJ

FIXED ASSETS

Intangible assets

4

38,423

Tangible assets

5

1,201

39,624

CURRENT ASSETS

Debtors

6

7,330

Cash at bank

43,680

51,010

CREDITORS

Amounts falling due within one year

7

(52,261

)

NET CURRENT LIABILITIES

(1,251

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,373

CAPITAL AND RESERVES

Called up share capital

9

2,500

Share premium

10

98,750

Retained earnings

10

(62,877

)

SHAREHOLDERS' FUNDS

38,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 November 2017 and were signed on its behalf by:

S Orr - Director

1.	STATUTORY INFORMATION

The Gilt Club Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

48,226

At 28 February 2017

48,226

AMORTISATION

Amortisation for period

9,803

At 28 February 2017

9,803

NET BOOK VALUE

At 28 February 2017

38,423

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,207

At 28 February 2017

1,207

DEPRECIATION

Charge for period

6

At 28 February 2017

6

NET BOOK VALUE

At 28 February 2017

1,201

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1

Other debtors

1,196

VAT

6,133

7,330

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 8)

249

Trade creditors

16,713

Social security and other taxes

1,333

Directors' current accounts

32,966

Accrued expenses

1,000

52,261

8.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank overdrafts

249

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2,500

Ordinary

1

2,500

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 23 February 2016

2

-

2

Deficit for the period

(62,879

)

(62,879

)

Cash share issue

-

98,750

98,750

At 28 February 2017

(62,877

)

98,750

35,873

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 28 February 2017:

£

S Orr

Balance outstanding at start of period

-

Amounts repaid

(32,966

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(32,966

)

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the Directors, by virtue of the fact that between them they hold

100% of the share capital.