Grestec Tiles Limited Filleted accounts for Companies House (small and micro)
Grestec Tiles Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04275217
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YEAR ENDED |
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FINANCIAL STATEMENTS |
YEAR ENDED 31 JULY 2020
Contents |
Page |
Balance sheet |
1 |
Notes to the financial statements |
3 |
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BALANCE SHEET |
2020 |
2019 |
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Note |
£ |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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CURRENT ASSETS
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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PREPAYMENTS AND ACCRUED INCOME |
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CREDITORS: amounts falling due within one year |
7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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(
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
8 |
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PROVISIONS
Taxation including deferred tax |
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ACCRUALS AND DEFERRED INCOME |
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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BALANCE SHEET (continued) |
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
21 April 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
04275217
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 JULY 2020
1.
General information
The company is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is Unit 4-6, Marley Farm Business Estate, Headcorn Road, Smarden, Ashford, Kent, TN27 8PJ
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Foreign currencies
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property |
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Leasehold Property |
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Plant & Machinery |
- |
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Fixtures & Fittings |
- |
25% reducing balance and 5 years straight line
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Motor Vehicles |
- |
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Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2019:
17
).
5.
Tangible assets
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2019 |
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Additions |
– |
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Disposals |
– |
– |
– |
(
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(
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At 31 July 2020 |
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Depreciation |
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At 1 August 2019 |
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Charge for the year |
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Disposals |
– |
– |
– |
(
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(
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At 31 July 2020 |
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Carrying amount |
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At 31 July 2020 |
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At 31 July 2019 |
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6.
Debtors
2020 |
2019 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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8.
Creditors:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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– |
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Included within creditors: amounts falling due after more than one year is an amount of £171,905 (2019: £196,422) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loans are repayable in instalments, with interest rates currently set at 2% over base rate and 5.45% respectively and they are due to expire on 31 August 2031 and 9 December 2025.
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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