Registered Number 05936567

GARDNER MARINE DIESELS LIMITED

Abbreviated Accounts

30 September 2015

GARDNER MARINE DIESELS LIMITED Registered Number 05936567

Abbreviated Balance Sheet as at 30 September 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 36,102 45,588
36,102 45,588
Current assets
Stocks 116,923 110,305
Debtors 167,285 58,413
Cash at bank and in hand 9,746 44,258
293,954 212,976
Creditors: amounts falling due within one year (59,201) (92,847)
Net current assets (liabilities) 234,753 120,129
Total assets less current liabilities 270,855 165,717
Total net assets (liabilities) 270,855 165,717
Capital and reserves
Called up share capital 3 200 200
Profit and loss account 270,655 165,517
Shareholders' funds 270,855 165,717
  • For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 June 2016

And signed on their behalf by:
Mr M S Harrison, Director

GARDNER MARINE DIESELS LIMITED Registered Number 05936567

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 10% straight-line
Plant & Machinery - 25% reducing balance
Fixtures & Fittings - 25% reducing balance
Motor Vehicles - 20% reducing balance

Other accounting policies
Fixed assets

All fixed assets are initially recorded at cost.

Stocks

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

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets
£
Cost
At 1 October 2014 106,314
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2015 106,314
Depreciation
At 1 October 2014 60,726
Charge for the year 9,486
On disposals -
At 30 September 2015 70,212
Net book values
At 30 September 2015 36,102
At 30 September 2014 45,588
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
200 Ordinary shares of £1 each 200 200

4Transactions with directors

Name of director receiving advance or credit: Mr M S Harrison
Description of the transaction: Advances
Balance at 1 October 2014: £ 56,539
Advances or credits made: £ 185,886
Advances or credits repaid: £ 113,078
Balance at 30 September 2015: £ 129,347

At the start of the year the company owed Mr M S Harrison £56,539.

During the year the company made advances to Mr M S Harrison of £185,737. It charged him interest of £149 on the resulting loan balance.

At the year-end the company was owed £129,347 by Mr M S Harrison.