Global Hanger Solutions Ltd

Global Hanger Solutions Ltd

GLOBAL HANGER SOLUTIONS LIMITED - Company Information

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Registered number: 05783265
Global Hanger Solutions Ltd
Abbreviated accounts
For The Year Ended 30 April 2014
RM WHITEHOUSE & CO LTD

FCCA CTA

Spring Bank
Shipton Road
Milton under Wychwood
Oxfordshire
OX7 6JS
Global Hanger Solutions Ltd
Company No. 05783265
Abbreviated Balance Sheet 30 April 2014
Abbreviated Balance Sheet
2014 2013
Notes £ £ £ £
FIXED ASSETS
Tangible assets 2 6,635 4,370
6,635 4,370
CURRENT ASSETS
Stocks 222,025 372,987
Debtors 91,939 299,046
313,964 672,033
Creditors: Amounts Falling Due Within One Year (491,023) (600,912)
NET CURRENT ASSETS (LIABILITIES) (177,059) 71,121
TOTAL ASSETS LESS CURRENT LIABILITIES (170,424) 75,491
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,327) (874)
NET ASSETS (171,751) 74,617
CAPITAL AND RESERVES
Called up share capital 3 40 40
Profit and Loss account (171,791) 74,577
SHAREHOLDERS' FUNDS (171,751) 74,617
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Global Hanger Solutions Ltd
Company No. 05783265
Abbreviated Balance Sheet (continued) 30 April 2014
For the year ending 30 April 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Peter GREENING
30/01/2015
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Global Hanger Solutions Ltd
Notes to the Abbreviated Accounts
For The Year Ended 30 April 2014
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Tangible Assets
Total
Cost £
As at 1 May 2013 12,273
Additions 4,480
As at 30 April 2014 16,753
Depreciation
As at 1 May 2013 7,903
Provided during the period 2,215
As at 30 April 2014 10,118
Net Book Value
As at 30 April 2014 6,635
As at 1 May 2013 4,370
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Global Hanger Solutions Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 30 April 2014
Share Capital
Value Number 2014 2013
Allotted, called up and fully paid: £ £ £
Ordinary shares 1.000 40 40 40
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