G and N Interiors Limited iXBRL

Company Number: 07162613

G and N Interiors Limited

Unaudited Abridged Financial Statements

for the year ended 28 February 2017

G and N Interiors Limited

Company Number: 07162613

ABRIDGED BALANCE SHEET

as at 28 February 2017

			2017		2016
		Notes	£		£
Current Assets

Debtors			4,075		2,972
Cash and cash equivalents			18,801		31,242
			─────────		─────────
			22,876		34,214
			─────────		─────────
Creditors: Amounts falling due within one year		4	(6,806)		(15,285)
			─────────		─────────
Net Current Assets			16,070		18,929
			─────────		─────────
Total Assets less Current Liabilities			16,070		18,929
			═════════		═════════
Capital and Reserves

Called up share capital			1		1
Profit and Loss Account			16,069		18,928
			─────────		─────────
Equity attributable to owners of the company			16,070		18,929
			═════════		═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.

For the financial year ended 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that 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 of the Companies Act 2006.

The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 28 November 2017

________________________________
Mrs N Lieberman
Director

G and N Interiors Limited

RECONCILIATION OF SHAREHOLDERS' FUNDS

as at 28 February 2017

	Share	Retained	Total
	capital	earnings
	£	£	£
At 1 March 2015	1	3,698	3,699
	─────────	─────────	─────────
Profit for the year	-	23,430	23,430
	─────────	─────────	─────────
Payment of dividends	-	(8,200)	(8,200)
	─────────	─────────	─────────
At 29 February 2016	1	18,928	18,929
	─────────	─────────	─────────
Profit for the year	-	7,141	7,141
	─────────	─────────	─────────
Payment of dividends	-	(10,000)	(10,000)
	─────────	─────────	─────────
At 28 February 2017	1	16,069	16,070
	═════════	═════════	═════════

G and N Interiors Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the year ended 28 February 2017

1.	GENERAL INFORMATION
	G and N Interiors Limited is a company limited by shares incorporated in United Kingdom

2.	ACCOUNTING POLICIES
	The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.
	Statement of compliance
	The financial statements of the company for the year ended 28 February 2017 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
	Basis of preparation
	The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
	Cash flow statement
	The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
	Turnover
	Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
	Trade and other debtors
	Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
	Trade and other creditors
	Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
	Taxation
	Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

3.	ADOPTION OF FRS 102 SECTION 1A
	This is the first set of financial statements prepared by G and N Interiors Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.

4.	CREDITORS	2017	2016
	Amounts falling due within one year	£	£
	Trade creditors	-	499
	Taxation	2,980	6,864
	Director's current account	-	4,396
	Accruals	3,826	3,526
		─────────	─────────
		6,806	15,285
		═════════	═════════