Micro-entity Accounts - GT3 MOTORS LIMITED

09929601 GT3 MOTORS LIMITED 2017-06-01 false 2015-12-24 2017-06-01 true 09929601 2015-12-24 2017-06-01 09929601 2017-06-01 09929601 uk-gaap-cd-bus:Director1 2015-12-24 2017-06-01 09929601 uk-gaap-cd-bus:Director2 2015-12-24 2017-06-01 09929601 uk-gaap-cd-bus:AllEntityOfficers 2015-12-24 2017-06-01 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-24 2017-06-01 uk-gaap-cd-bus:OrdinaryShareClass1 2017-06-01 iso4217:GBP shares

Registered Number 09929601

GT3 MOTORS LIMITED

Micro-entity Accounts

1 June 2017

GT3 MOTORS LIMITED Registered Number 09929601

Micro-entity Balance Sheet as at 1 June 2017

	Notes	2017
		£
Fixed assets
Tangible assets	1	1,896
		1,896
Current assets
Stocks		164,983
Debtors		1,549
Cash at bank and in hand		23,154
		189,686
Creditors: amounts falling due within one year		(190,558)
Net current assets (liabilities)		(872)
Total assets less current liabilities		1,024
Total net assets (liabilities)		1,024
Capital and reserves
Called up share capital	2	2
Profit and loss account		1,022
Shareholders' funds		1,024

For the year ending 1 June 2017 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 September 2017

And signed on their behalf by:
D Dilks, Director

GT3 MOTORS LIMITED Registered Number 09929601

Notes to the Micro-entity Accounts for the period ended 1 June 2017

1Tangible fixed assets

	£
Cost
Additions	2,370
Disposals	-
Revaluations	-
Transfers	-
At 1 June 2017	2,370
Depreciation
Charge for the year	474
On disposals	-
At 1 June 2017	474
Net book values
At 1 June 2017	1,896

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £
2 Ordinary shares of £1 each	2

3Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 20% per annum on cost

Valuation information and policy
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.