Gullco International (U.K.) Limited - Accounts to registrar (filleted) - small 18.2
Gullco International (U.K.) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| FOR |
| GULLCO INTERNATIONAL (U.K.) LIMITED |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GULLCO INTERNATIONAL (U.K.) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 67 Chorley Old Road |
| Bolton |
| BL1 3AJ |
| BANKERS: |
| 97 Fishergate |
| Preston |
| PR1 2DP |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| BALANCE SHEET |
| 31ST DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Gullco International (U.K.) Limited is a |
| The company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue, described as turnover, represents the value of goods and services, net of VAT, provided to customers |
| during the year. |
| Depreciation |
| Freehold land and buildings | - |
| Plant and machinery | - |
| Fixtures and equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Fixtures |
| land and | Plant and | and | Motor |
| buildings | machinery | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st December 2018 |
| DEPRECIATION |
| At 1st January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st December 2018 |
| NET BOOK VALUE |
| At 31st December 2018 |
| At 31st December 2017 |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and | Motor |
| equipment | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Transfer to ownership | - | (32,634 | ) | (32,634 | ) |
| At 31st December 2018 |
| DEPRECIATION |
| At 1st January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Transfer to ownership | - | (28,555 | ) | (28,555 | ) |
| At 31st December 2018 |
| NET BOOK VALUE |
| At 31st December 2018 |
| At 31st December 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments & accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Amount owed to parent company | 71,217 | 104,559 |
| Accruals, advances & deferred income | 32,183 | 64,331 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| GULLCO INTERNATIONAL (U.K.) LIMITED (REGISTERED NUMBER: 02600473) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | 27,935 | 3,076 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 300 | 300 |
| 10. | ULTIMATE CONTROLLING PARTY |
| Gullco International (UK) Limited is a wholly owned subsidiary of Gullco International Limited, registered in |
| Canada, which is the ultimate holding company. There is no one party with control of that company. |