Registered Number 05936567

GARDNER MARINE DIESELS LIMITED

Abbreviated Accounts

30 September 2014

GARDNER MARINE DIESELS LIMITED Registered Number 05936567

Abbreviated Balance Sheet as at 30 September 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 45,588 43,923
45,588 43,923
Current assets
Stocks 110,305 105,555
Debtors 58,413 53,802
Cash at bank and in hand 44,258 138,351
212,976 297,708
Creditors: amounts falling due within one year (92,847) (93,912)
Net current assets (liabilities) 120,129 203,796
Total assets less current liabilities 165,717 247,719
Total net assets (liabilities) 165,717 247,719
Capital and reserves
Called up share capital 3 200 200
Profit and loss account 165,517 247,519
Shareholders' funds 165,717 247,719
  • For the year ending 30 September 2014 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 12 June 2015

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 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 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 2013 94,363
Additions 11,951
Disposals -
Revaluations -
Transfers -
At 30 September 2014 106,314
Depreciation
At 1 October 2013 50,440
Charge for the year 10,286
On disposals -
At 30 September 2014 60,726
Net book values
At 30 September 2014 45,588
At 30 September 2013 43,923
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
200 Ordinary shares of £1 each 200 200