04673806 1.6.12 31.5.13 31.5.13 Company accounts Private Limited Company FY true false true false true false false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure046738062012-05-31046738062013-05-31046738062012-06-012013-05-31046738062011-05-31046738062011-06-012012-05-31046738062012-05-3104673806ns12:England2012-06-012013-05-3104673806ns14:PoundSterling2012-06-012013-05-3104673806ns7:Director12012-06-012013-05-3104673806ns7:OrdinaryShareClass12012-06-012013-05-3104673806ns5:PlantMachinery2012-06-012013-05-3104673806ns5:FixturesFittings2012-06-012013-05-3104673806ns5:MotorVehicles2012-06-012013-05-3104673806ns7:OrdinaryShareClass12013-05-3104673806ns7:OrdinaryShareClass12012-05-31
REGISTERED NUMBER: 04673806 (England and Wales)


























ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2013

FOR

GEARBOX CENTRE LIMITED

GEARBOX CENTRE LIMITED (REGISTERED NUMBER: 04673806)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2013










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

GEARBOX CENTRE LIMITED (REGISTERED NUMBER: 04673806)

ABBREVIATED BALANCE SHEET
31 MAY 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 50,000 55,000
Tangible assets 3 23,685 25,920
73,685 80,920

CURRENT ASSETS
Stocks 9,650 11,000
Debtors 16,315 11,994
Cash at bank and in hand 55,483 43,865
81,448 66,859
CREDITORS
Amounts falling due within one year 4 47,139 41,740
NET CURRENT ASSETS 34,309 25,119
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,994

106,039

CREDITORS
Amounts falling due after more than one year 4 (79,954 ) (88,376 )

PROVISIONS FOR LIABILITIES (4,500 ) (4,500 )
NET ASSETS 23,540 13,163

CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and loss account 23,440 13,063
SHAREHOLDERS' FUNDS 23,540 13,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2013 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 26 September 2013 and were signed by:




Mr M J P Smith - Director


GEARBOX CENTRE LIMITED (REGISTERED NUMBER: 04673806)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2013


1. ACCOUNTING POLICIES

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 April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over
their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital
element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the
lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2012
and 31 May 2013 100,000
AMORTISATION
At 1 June 2012 45,000
Amortisation for year 5,000
At 31 May 2013 50,000
NET BOOK VALUE

At 31 May 2013 50,000
At 31 May 2012 55,000

GEARBOX CENTRE LIMITED (REGISTERED NUMBER: 04673806)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MAY 2013


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2012 56,671
Additions 1,999
At 31 May 2013 58,670
DEPRECIATION
At 1 June 2012 30,751
Charge for year 4,234
At 31 May 2013 34,985
NET BOOK VALUE
At 31 May 2013 23,685
At 31 May 2012 25,920

4. CREDITORS

Creditors include an amount of £ 88,183 (2012 - £ 96,305 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
100 Ordinary 1 100 100