Grandbydale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01413608 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

Grandbydale Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

J K B Patel

Mrs H J Patel

SECRETARY:

J K B Patel

REGISTERED OFFICE:

Onward Chambers

34 Market Street

Hyde

Cheshire

SK14 1AH

REGISTERED NUMBER:

01413608 (England and Wales)

ACCOUNTANTS:

Hardy & Company (Hyde) Ltd

Chartered Certified Accountants

Onward Chambers

34 Market Street

Hyde

Cheshire

SK14 1AH

BANKERS:

National Westminster Bank Plc

PO Box 18

329 Stanley Road

Bootle

Merseyside

L29 3UE

FIXED ASSETS

Tangible assets

4

743,347

486,309

Investments

5

18,543

26,363

Investment property

6

210,000

210,000

971,890

722,672

CURRENT ASSETS

Stocks

39,412

42,881

Debtors

713,448

880,563

Cash at bank

13,242

14,942

766,102

938,386

CREDITORS

Amounts falling due within one year

262,025

266,371

NET CURRENT ASSETS

504,077

672,015

TOTAL ASSETS LESS CURRENT LIABILITIES

1,475,967

1,394,687

CREDITORS

Amounts falling due after more than one year

(142,757

)

(162,510

)

PROVISIONS FOR LIABILITIES

(2,579

)

(2,369

)

NET ASSETS

1,330,631

1,229,808

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,330,531

1,229,708

SHAREHOLDERS' FUNDS

1,330,631

1,229,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25 August 2019 and were signed on its behalf by:

J K B Patel - Director

1.	STATUTORY INFORMATION

Grandbydale Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company net of discounts and value added

tax. Turnover is recognised on the basis of receipts for goods and services provided by the pharmacy and associated

accrued income from the Prescription Pricing Authority.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are revalued annually at their open market value in accordance with FRSSE (effective April 2008).

The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property

below its historical cost, in which case it is taken to the profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act

2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current

value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view.

The provisions of the FRSSE (effective April 2008) in respect of investment properties have therefore been adopted in

order to give a true and fair view. If this departure from the Act had not been made, the profit/loss for the year would have

been reduced by depreciation.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been

shown cannot be separately identified or quantified.

Stocks

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

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

600,177

Additions

270,488

At 30 April 2019

870,665

DEPRECIATION

At 1 May 2018

113,868

Charge for year

13,450

At 30 April 2019

127,318

NET BOOK VALUE

At 30 April 2019

743,347

At 30 April 2018

486,309

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 May 2018

26,363

Revaluations

(7,820

)

At 30 April 2019

18,543

NET BOOK VALUE

At 30 April 2019

18,543

At 30 April 2018

26,363

The aggregate market value of listed investment at 30 April 2019 was £18,444 (2018: £25,415).

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

and 30 April 2019

210,000

NET BOOK VALUE

At 30 April 2019

210,000

At 30 April 2018

210,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

30.4.18

£

£

Bank loans

162,666

182,574

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2019 and 30 April 2018:

30.4.19

30.4.18

£

£

J K B Patel and Mrs H J Patel

Balance outstanding at start of year

278,893

249,098

Amounts advanced

118,795

278,893

Amounts repaid

(293,975

)

(249,098

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

103,713

278,893

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Grandbydale Limited for the year ended 30 April 2019 which comprise the Statement of Income and Retained

Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Grandbydale Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grandbydale Limited and state those matters that we have agreed to state to the Board of Directors of Grandbydale Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grandbydale Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grandbydale Limited. You consider that Grandbydale Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grandbydale Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardy & Company (Hyde) Ltd

Chartered Certified Accountants

Onward Chambers

34 Market Street

Hyde

Cheshire

SK14 1AH

26 August 2019