Abbreviated balance sheet

as at 31 May 2014

		2014		2013
	Notes	£	£	£	£
Fixed Assets
Tangible assets			766		1,208
Current Asset
Trade Debtors		6,696		5,071
Cash at bank and in hand		21,759		10,805
Other Debtors		147		-
		28,602		15,876
Creditors: amounts falling due within one year	7	(16,490)		(16,898)
Net current assets			12,112		(1,022)
Total assets less current liabilities			12,878		186
Net assets			12,878		186
Capital and reserves
Share Capital			1		1
Profit and loss account			12,877		185
Shareholder's funds			12,878		186

The directors' statements required by Sections 475(2) and (3) are shown on the following page which forms part of this Balance Sheet.

GSR Europe Ltd

Registered number: 07643405

Abbreviated balance sheet (continued)

Director's statements required by Sections 475(2) and (3)
for the year ended 31 May 2014

In approving these abbreviated accounts as director of the company I hereby confirm:

(a)	that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 ;
(b)	that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 May 2014 ; and
(c)	that I acknowledge my responsibilities for:
	(1)	ensuring that the company keeps accounting records which comply with Section 386 ; and
	(2)	preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.

These abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective April 2008) relating to small companies.

The abbreviated accounts were approved by the Board on 8 July 2014 and signed on its behalf by
Grant Ring
Director

GSR Europe Ltd

Notes to the abbreviated financial statements

for the year ended 31 May 2014

1	Accounting policies
1.1	Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2	Turnover represents value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
1.3	Tangible fixed assets and depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
	Motor vehicles	25% straight line
	Equipment, fixtures and fittings	25% straight line
1.4	Stocks Stock is valued at the lower of cost and net realisable value.

4	Tangible fixed assets
		Plant and machinery etc	Motor vehicles	Total
		£	£	£
	Cost
	At 1 June 2013	1,767	-	1,767
	At 31 May 2014	1,767	-	1,767
	Depreciation
	At 1 June 2013	559	-	559
	Charge for the year	442	-	442
	At 31 May 2014	1,001	-	1,001
	Net book value
	At 31 May 2014	766	-	766
	At 31 May 2013	1,208	-	1,208

		2014	2013
7	Creditors: amounts falling due within one year	£	£

	Corporation tax	10,419	9,454
	VAT	2,104	1,946
	Director's loan account for Grant Ring	3,967	5,498
		16,490	16,898

8	Share capital	2014	2013	2014	2013
		No	No	£	£
	Allotted, called up and fully paid:
	Ordinary shares of £ 1 each	1	1	1	1

11	Controlling interest
	The controlling and ultimate controlling party is Grant Ring, the director of the company, by virtue of the fact that he/she owns 100% of the issued share capital.

12	Going concern
	The director has reviewed the twelve months ahead and has considered the company's financial position and notes no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.