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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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GFTUET TRADING COMPANY LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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GFTUET TRADING COMPANY LIMITED |
GFTUET TRADING COMPANY LIMITED (REGISTERED NUMBER: 08282681) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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GFTUET TRADING COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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Chartered Certified Accountants |
& Registered Auditors |
21 New Walk |
Leicester |
LE1 6TE |
GFTUET TRADING COMPANY LIMITED (REGISTERED NUMBER: 08282681) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investments | 5 |
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Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Creditors |
Amounts falling due after more than one year | 8 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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Shareholders' funds | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
on its behalf by: |
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GFTUET TRADING COMPANY LIMITED (REGISTERED NUMBER: 08282681) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | Statutory information |
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GFTUET Trading Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Going concern |
The financial statements have been prepared on a going concern basis. The company has secured long term funding from |
the General Federation of Trade Unions Educational Trust and on that basis the directors believe that it is appropriate to |
use the going concern basis. |
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3. | Employees and directors |
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The average number of employees during the year was
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GFTUET TRADING COMPANY LIMITED (REGISTERED NUMBER: 08282681) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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4. | Tangible fixed assets |
Improvements |
to | Plant and |
property | machinery | Totals |
£ | £ | £ |
Cost |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2019 |
and 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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6. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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GFTUET TRADING COMPANY LIMITED (REGISTERED NUMBER: 08282681) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1.00 | 2 | 2 |
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10. | Reserves |
Retained |
earnings |
£ |
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At 1 January 2019 | ( |
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Deficit for the year | ( |
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At 31 December 2019 | ( |
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11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | Related party disclosures |
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Included in other creditors is an amount due to the General Federation of Trade Unions of £181,364 (2018 - £201,134). |
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13. | Ultimate controlling party |
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The controlling party is the General Federation of Trade Unions Educational Trust. |