Gaglione Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04715949 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

GAGLIONE LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,302

1,748

CURRENT ASSETS

Stocks

4,490

4,490

Cash at bank

4,744

4,744

9,234

9,234

CREDITORS

Amounts falling due within one year

5

5,501

7,426

NET CURRENT ASSETS

3,733

1,808

TOTAL ASSETS LESS CURRENT LIABILITIES

5,035

3,556

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

5,033

3,554

SHAREHOLDERS' FUNDS

5,035

3,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 13 December 2018 and were signed on its behalf by:

Mr D R Jones - Director

1.	STATUTORY INFORMATION

Gaglione Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

04715949

Registered office:

Grenville House

9 Boutport Street

Barnstaple

Devon

EX31 1TZ

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.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of

work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term

contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that

asset as follows:

Equipment

-20% straight line

Stocks

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

obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 April 2017

and 31 March 2018

8,033

DEPRECIATION

At 1 April 2017

6,285

Charge for year

446

At 31 March 2018

6,731

NET BOOK VALUE

At 31 March 2018

1,302

At 31 March 2017

1,748

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Corporation tax

4,091

6,016

Directors' loan accounts

615

615

Accruals and deferred income

795

795

5,501

7,426

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Retained

earnings

£

At 1 April 2017

3,554

Profit for the year

16,994

Dividends

(15,515

)

At 31 March 2018

5,033

8.	PRIOR YEAR ADOPTION - FRS 102 1A

No transitional adjustments were required in prior year.