Company Registration No. 07793138 (England and Wales)
GEES DRY LTD
Unaudited accounts
for the year ended 30 September 2017
GEES DRY LTD
Unaudited accounts
Contents
GEES DRY LTD
Company Information
for the year ended 30 September 2017
Director
Sukhwant Singh Khaneja
Company Number
07793138 (England and Wales)
Registered Office
724 BATH ROAD
HOUNSLOW
MIDDLESEX
TW5 9TW
Accountants
Gurdeep Jaswal
Jaswal and Co Accountants
50 Salisbury Road
Hounslow
Middlesex
TW4 6JQ
GEES DRY LTD
Statement of financial position
as at
30 September 2017
Intangible assets
29,668
29,668
Tangible assets
19,706
23,690
Cash at bank and in hand
2,265
42,989
Creditors: amounts falling due within one year
(4,380)
(69,493)
Net current assets/(liabilities)
17,260
(7,137)
Total assets less current liabilities
66,634
46,221
Creditors: amounts falling due after more than one year
(50,000)
(33,190)
Provisions for liabilities
Deferred tax
(3,759)
(3,759)
Called up share capital
100
100
Profit and loss account
12,775
9,172
Shareholders' funds
12,875
9,272
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 March 2018.
Sukhwant Singh Khaneja
Director
Company Registration No. 07793138
GEES DRY LTD
Notes to the Accounts
for the year ended 30 September 2017
GEES DRY LTD is a private company, limited by shares, registered in England and Wales, registration number 07793138. The registered office is 724 BATH ROAD, HOUNSLOW, MIDDLESEX, TW5 9TW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
GEES DRY LTD
Notes to the Accounts
for the year ended 30 September 2017
4
Intangible fixed assets
Goodwill
At 30 September 2017
59,333
At 30 September 2017
29,665
At 30 September 2017
29,668
At 30 September 2016
29,668
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2016
1,600
44,510
46,110
At 30 September 2017
1,094
44,510
45,604
At 1 October 2016
1,094
21,326
22,420
Charge for the year
-
3,478
3,478
At 30 September 2017
1,094
24,804
25,898
At 30 September 2017
-
19,706
19,706
At 30 September 2016
506
23,184
23,690
Trade debtors
6,875
6,875
Accrued income and prepayments
4,500
4,492
Other debtors
8,000
8,000
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
3,150
3,460
Taxes and social security
1,230
-
Loans from directors
-
66,033
GEES DRY LTD
Notes to the Accounts
for the year ended 30 September 2017
8
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
50,000
30,000
9
Share capital
2017
2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).