GS_PROMOTIONS_LIMITED - Accounts

GS PROMOTIONS LIMITED - Company Information

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Company Registration No. 03384049 (England and Wales)

GS PROMOTIONS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

GS PROMOTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

GS PROMOTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

19,599

32,424

Current assets

Debtors

207,438

305,893

Cash at bank and in hand

38,339

790,037

245,777

1,095,930

Creditors: amounts falling due within one year

(137,505)

(906,387)

Net current assets

108,272

189,543

Total assets less current liabilities

127,871

221,967

Creditors: amounts falling due after more than one year

(109,583)

(143,011)

18,288

78,956

Capital and reserves

Called up share capital

Profit and loss account

18,286

78,954

Shareholders' funds

18,288

78,956

GS PROMOTIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2013

- 2 -

For the financial year ended 31 December 2013 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 June 2014

Ms E K M Gold

J Stevenson Esq

Director

Company Registration No. 03384049

GS PROMOTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

Turnover is recognised to reflect the period in which the service is provided.

1.3

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 January 2013

130,937

Disposals

(27,400)

At 31 December 2013

103,537

Depreciation

At 1 January 2013

98,513

On disposals

(21,108)

Charge for the year

6,533

At 31 December 2013

83,938

Net book value

At 31 December 2013

19,599

At 31 December 2012

32,424

GS PROMOTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 4 -

Share capital

2013

2012

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J Stevenson Esq -

99,381

29,380

(128,761)

99,381

29,380

(128,761)