GRIFFSTEM_LTD - Accounts

GRIFFSTEM LIMITED - Company Information

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Company Registration No. 1426429 (England and Wales)

GRIFFSTEM LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 16 OCTOBER 2014

GRIFFSTEM LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

GRIFFSTEM LTD

ABBREVIATED BALANCE SHEET

AS AT

16 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

48,447

10,738

Current assets

Stocks

109,990

90,333

Debtors

186,142

124,985

Cash at bank and in hand

17,060

1,971

313,192

217,289

Creditors: amounts falling due within one year

(180,593)

(172,315)

Net current assets

132,599

44,974

Total assets less current liabilities

181,046

55,712

Creditors: amounts falling due after more than one year

(43,663)

Provisions for liabilities

(9,499)

(1,915)

127,884

53,797

Capital and reserves

Called up share capital

100

Profit and loss account

127,784

53,697

Shareholders' funds

127,884

53,797

GRIFFSTEM LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

16 OCTOBER 2014

- 2 -

For the financial year ended 16 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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;

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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 June 2015

S Bhamra

Director

Company Registration No. 1426429

GRIFFSTEM LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 16 OCTOBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

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:

Computer equipment

25% reducing balance basis

Fixtures, fittings & equipment

10% reducing balance basis

Fixed assets

Tangible assets

Cost

At 17 October 2013

96,921

Additions

44,446

At 16 October 2014

141,367

Depreciation

At 17 October 2013

86,183

Charge for the year

6,737

At 16 October 2014

92,920

Net book value

At 16 October 2014

48,447

At 16 October 2013

10,738

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100