REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2015 |
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FOR |
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GALILEO (HOVE) LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2015 |
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FOR |
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GALILEO (HOVE) LIMITED |
GALILEO (HOVE) LIMITED (REGISTERED NUMBER: 04023521) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 JULY 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
GALILEO (HOVE) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2015 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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GALILEO (HOVE) LIMITED (REGISTERED NUMBER: 04023521) |
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ABBREVIATED BALANCE SHEET |
31 JULY 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the director on
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GALILEO (HOVE) LIMITED (REGISTERED NUMBER: 04023521) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 JULY 2015 |
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1. | ACCOUNTING POLICIES |
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Going concern |
These financial statements have been prepared on the basis that the company will continue to be a going |
concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the |
value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to |
reclassify fixed assets and long term liabilities as current assets and liabilities. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention. |
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Financial reporting standard number 1 |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as |
a small company. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant & machinery | - |
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Furniture,fittings & equipment | - |
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Motor vehicles | - |
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Computer & office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2014 |
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Additions |
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At 31 July 2015 |
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DEPRECIATION |
At 1 August 2014 |
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Charge for year |
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At 31 July 2015 |
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NET BOOK VALUE |
At 31 July 2015 |
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At 31 July 2014 |
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GALILEO (HOVE) LIMITED (REGISTERED NUMBER: 04023521) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 JULY 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary A | £1 |
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Ordinary B | £1 |
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Ordinary C | £1 |
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100 | 100 |
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4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the
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5. | ACCOUNTING BASIS |
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As stated in accounting policy note 1, these financial statements have been prepared on the basis that the |
company will continue to be a going concern. |
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Net current liabilities at 31 July 2015 are shown in the sum of £8,157. Current assets include loans to the |
director in the sum of £13,350. |
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The validity of the going concern basis depends upon the continued support of the company's bankers. The |
director is not aware of any reason why continued bank support should not be forthcoming. |