Registered number
05118965
Ian Gray & Associates Limited
Abbreviated Accounts
31 May 2014
Ian Gray & Associates Limited
Registered number: 05118965
Abbreviated Balance Sheet
as at 31 May 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 2,536 3,381
Current assets
Debtors 15,837 18,328
Cash at bank and in hand 112,126 83,234
127,963 101,562
Creditors: amounts falling due within one year (13,880) (12,775)
Net current assets 114,083 88,787
Net assets 116,619 92,168
Capital and reserves
Called up share capital 3 100 100
Shareholder's capital loan 200,000 200,000
Profit and loss account (83,481) (107,932)
Shareholders' funds 116,619 92,168
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
I M M Gray
Director
Approved by the board on 13 November 2014
Ian Gray & Associates Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2014
1 Accounting policies
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 January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Pensions
The pension charge represents contributions payable to an employee's personal pension scheme.
2 Tangible fixed assets £
Cost
At 1 June 2013 13,667
At 31 May 2014 13,667
Depreciation
At 1 June 2013 10,286
Charge for the year 845
At 31 May 2014 11,131
Net book value
At 31 May 2014 2,536
At 31 May 2013 3,381
3 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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