Gifla Associates Limited - Filleted accounts

Gifla Associates Limited - Filleted accounts

GIFLA ASSOCIATES LTD - Company Information

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Registered number
08084844
Gifla Associates Limited
Filleted Accounts
31 March 2017
Gifla Associates Limited
Registered number: 08084844
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 1,395 1,860
Current assets
Debtors 3 70,111 96,389
Cash at bank and in hand 40,852 3,233
110,963 99,622
Creditors: amounts falling due within one year 4 (109,293) (73,756)
Net current assets 1,670 25,866
Net assets 3,065 27,726
Capital and reserves
Called up share capital 40 40
Profit and loss account 3,025 27,686
Shareholders' funds 3,065 27,726
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Hulatt
Director
Approved by the board on 3 December 2017
Gifla Associates Limited
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2016 5,528
At 31 March 2017 5,528
Depreciation
At 1 April 2016 3,668
Charge for the year 465
At 31 March 2017 4,133
Net book value
At 31 March 2017 1,395
At 31 March 2016 1,860
3 Debtors 2017 2016
£ £
Trade debtors 57,534 31,822
Other debtors 12,577 64,567
70,111 96,389
4 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 9,325 13,155
Corporation tax 15,574 6,457
Other taxes and social security costs 18,556 11,957
Other creditors 65,838 42,187
109,293 73,756
5 Other information
Gifla Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Studio 3
Capability House
Wrest Park
Silsoe
MK45 4HR
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