04673943 22.9.15 21.9.16 21.9.16 Company accounts Private Limited Company FY true false true false false true false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure046739432015-09-21046739432016-09-21046739432015-09-222016-09-21046739432014-09-21046739432014-09-222015-09-21046739432015-09-2104673943ns12:England2015-09-222016-09-2104673943ns14:PoundSterling2015-09-222016-09-2104673943ns7:Director12015-09-222016-09-2104673943ns7:OrdinaryShareClass12015-09-222016-09-2104673943ns7:CompanySecretary2015-09-222016-09-2104673943ns7:RegisteredOffice2015-09-222016-09-2104673943ns7:EntityAccountantsOrAuditors2015-09-222016-09-2104673943ns5:PlantMachinery2015-09-222016-09-2104673943ns5:ComputerEquipment2015-09-222016-09-2104673943ns7:OrdinaryShareClass12016-09-2104673943ns7:OrdinaryShareClass12015-09-21
REGISTERED NUMBER: 04673943 (England and Wales)












GANTSPEED ENGINEERING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 21 SEPTEMBER 2016






GANTSPEED ENGINEERING LIMITED (REGISTERED NUMBER: 04673943)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 21 SEPTEMBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

GANTSPEED ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 21 SEPTEMBER 2016







DIRECTOR: R N Gant





SECRETARY: P L Croves





REGISTERED OFFICE: Chapel Lane
Mareham Le Fen
Boston
Lincolnshire
PE22 7PZ





REGISTERED NUMBER: 04673943 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
Rollestone House
20-22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

GANTSPEED ENGINEERING LIMITED (REGISTERED NUMBER: 04673943)

ABBREVIATED BALANCE SHEET
21 SEPTEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 9,450 10,800
Tangible assets 3 16,723 16,792
26,173 27,592

CURRENT ASSETS
Stocks 267,088 252,893
Debtors 15,456 53,473
Cash in hand 81 90
282,625 306,456
CREDITORS
Amounts falling due within one year 4 243,700 277,986
NET CURRENT ASSETS 38,925 28,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,098

56,062

PROVISIONS FOR LIABILITIES 2,980 2,914
NET ASSETS 62,118 53,148

CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and loss account 62,117 53,147
SHAREHOLDERS' FUNDS 62,118 53,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 21 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 21 September 2016 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.

GANTSPEED ENGINEERING LIMITED (REGISTERED NUMBER: 04673943)

ABBREVIATED BALANCE SHEET - continued
21 SEPTEMBER 2016


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 5 June 2017 and were signed by:





R N Gant - Director


GANTSPEED ENGINEERING LIMITED (REGISTERED NUMBER: 04673943)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 21 SEPTEMBER 2016


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 January 2015).

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the
goods are physically delivered to the customer.

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.

Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out
basis. Net realisable value represents estimated selling price less costs to complete and sell.
Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than
cost.

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

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 22 September 2015
and 21 September 2016 27,000
AMORTISATION
At 22 September 2015 16,200
Amortisation for year 1,350
At 21 September 2016 17,550
NET BOOK VALUE

At 21 September 2016 9,450
At 21 September 2015 10,800

GANTSPEED ENGINEERING LIMITED (REGISTERED NUMBER: 04673943)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 21 SEPTEMBER 2016


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 22 September 2015 61,148
Additions 2,500
At 21 September 2016 63,648
DEPRECIATION
At 22 September 2015 44,356
Charge for year 2,569
At 21 September 2016 46,925
NET BOOK VALUE
At 21 September 2016 16,723
At 21 September 2015 16,792

4. CREDITORS

Creditors include an amount of £ 192,301 (2015 - £ 190,071 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1 Ordinary £1 1 1