Gratel Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01562091 (England and Wales)

Financial Statements for the Year Ended 31 May 2019

for

GRATEL PROPERTY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P J Godwin

Mrs S Hawkins

Mr G J Hawkins

REGISTERED OFFICE:

The Elms South Lambs Green

Rusper

Horsham

West Sussex

RH12 4RG

REGISTERED NUMBER:

01562091 (England and Wales)

FIXED ASSETS

Tangible assets

5

42,292

14,535

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

6

33,501

51,539

Cash at bank

19,783

3,900

54,284

56,439

CREDITORS

Amounts falling due within one year

7

64,220

57,435

NET CURRENT LIABILITIES

(9,936

)

(996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,356

13,539

CREDITORS

Amounts falling due after more than one year

8

(22,368

)

-

PROVISIONS FOR LIABILITIES

(7,632

)

(2,270

)

NET ASSETS

2,356

11,269

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,256

11,169

SHAREHOLDERS' FUNDS

2,356

11,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 28 February 2020 and were signed on its behalf by:

Mr G J Hawkins - Director

1.	STATUTORY INFORMATION

Gratel Property Services 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

Taxation

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

Statement, 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

109,371

Additions

32,429

At 31 May 2019

141,800

DEPRECIATION

At 1 June 2018

94,836

Charge for year

4,672

At 31 May 2019

99,508

NET BOOK VALUE

At 31 May 2019

42,292

At 31 May 2018

14,535

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

25,458

46,998

Other debtors

1,361

1,350

VAT

5,979

-

Prepayments

703

3,191

33,501

51,539

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts

3,481

-

Trade creditors

7,305

4,664

Tax

1,307

7,930

Social security and other taxes

-

84

VAT

-

2,547

Credit Card Control

879

-

Directors' current accounts

49,948

40,910

Accrued expenses

1,300

1,300

64,220

57,435

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts

22,368

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year transactions took place between the directors and the company. The balance owed

to the directors at the balance sheet date was £49,948 (2018: £40,910).

11.	ULTIMATE CONTROLLING PARTY

Mr G Hawkins & Mrs S Hawkins have equal control of the company.