Company Registration No. 08372695 (England and Wales)
BETWEEN GLASS BLINDS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
BETWEEN GLASS BLINDS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BETWEEN GLASS BLINDS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
40,231
41,936
Current assets
Stocks
14,740
16,381
Debtors
235,974
113,399
Cash at bank and in hand
609,206
460,855
859,920
590,635
Creditors: amounts falling due within one year
(478,289)
(376,468)
Net current assets
381,631
214,167
Total assets less current liabilities
421,862
256,103
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
421,762
256,003
Shareholders' funds
421,862
256,103
For the financial year ended 30 September 2016 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 10 March 2017
J Nerden
Director
Company Registration No. 08372695
BETWEEN GLASS BLINDS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
66,432
Additions
11,706
At 30 September 2016
78,138
Depreciation
At 1 October 2015
24,496
Charge for the year
13,411
At 30 September 2016
37,907
Net book value
At 30 September 2016
40,231
At 30 September 2015
41,936
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
BETWEEN GLASS BLINDS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
4
Related party relationships and transactions
(Continued)
- 3 -
Other transactions
G S Curtis and P S Curtis are shareholders of the company. J Nerd
e
n
and M Nash are
director
s
and
also
shareholder
s
of the company.
In the year the company sold goods and services amounting to £
Nil
(201
5
: £
137,005
) to Vistamatic Limited and purchased goods and services from Vistamatic Limited amounting to £
910,691
(201
5
: £
554,716
). G S Curtis and P S Curtis are shareholders of this company and J Nerden is a director and a shareholder. At 30 September 201
6
an amount of £
243,338
(201
5
: £
169,240
) due to Vistamatic Limited is included in trade creditors, an amount of £
Nil
(201
5
: £
24,693
) due from Vistamatic Limited is included in other debtors
.
In the year the company purchased goods amounting to £
177,243
(201
5
: £
148,114
) from Express Toughening Limited. Express Toughening Limited is under the control of G S Curtis and P S Curtis who are also directors. At the balance sheet date the company's accounts included in trade creditors an amount of £
16,123
(201
5
: £
16,814
) relating to Express Toughening Limited.