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Abbreviated Accounts for the Year Ended 30 November 2016 |
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The Glascord Company Limited |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 30 November 2016 |
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for |
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The Glascord Company Limited |
The Glascord Company Limited (Registered number: SC048409) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 November 2016 |
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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 | 4 |
The Glascord Company Limited |
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Company Information |
for the Year Ended 30 November 2016 |
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DIRECTOR: |
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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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The Glascord Company Limited (Registered number: SC048409) |
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Abbreviated Balance Sheet |
30 November 2016 |
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30.11.16 | 30.11.15 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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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 | 4 |
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Capital redemption reserve |
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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. |
The Glascord Company Limited (Registered number: SC048409) |
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Abbreviated Balance Sheet - continued |
30 November 2016 |
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The financial statements were approved by the director on
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The Glascord Company Limited (Registered number: SC048409) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 November 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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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, where transactions or events that result in an obligation to pay more or a right to pay less tax during |
the future have occurred by the balance sheet date with certain limited exceptions. |
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Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available |
against which the temporary timing difference can be utilised. |
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Deferred tax is calculated on a non-discounted basis at the tax rates that are expected to apply in the periods in |
which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
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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. |
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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 the profit and loss account in the period to which they relate. |
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Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
The Glascord Company Limited (Registered number: SC048409) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 November 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 December 2015 |
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Additions |
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At 30 November 2016 |
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DEPRECIATION |
At 1 December 2015 |
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Charge for year |
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At 30 November 2016 |
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NET BOOK VALUE |
At 30 November 2016 |
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At 30 November 2015 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
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loans |
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COST |
At 1 December 2015 |
and 30 November 2016 | 260,000 |
NET BOOK VALUE |
At 30 November 2016 | 260,000 |
At 30 November 2015 | 260,000 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.16 | 30.11.15 |
value: | £ | £ |
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Ordinary | £1 |
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