Gradplus Limited - Period Ending 2014-12-31

Registration number: 04159797

Gradplus Limited

Unaudited Abbreviated Accounts

for the Period from 1 May 2014 to 31 December 2014

 

Broderick & Leslie
Chartered Certified Accountants
3 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB

Gradplus Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Gradplus Limited
for the Period Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gradplus Limited for the period ended 31 December 2014 set out on pages 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/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Gradplus Limited, as a body, in accordance with the terms of our engagement letterdated 15 December 2011. Our work has been undertaken solely to prepare for your approval the accounts of Gradplus Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gradplus Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Gradplus 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 accounts.

......................................

Broderick & Leslie
Chartered Certified Accountants
3 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB

12 September 2015

Page 1

Gradplus Limited
(Registration number: 04159797)
Abbreviated Balance Sheet at 31 December 2014

		Note			31 December 2014						30 April 2014 £
	£			£
Fixed assets
Tangible fixed assets								723			954
Current assets
Debtors					3,779						1,197
Cash at bank and in hand					805						125
					4,584						1,322
Creditors: Amounts falling due within one year					(417,382)						(380,083)
Net current liabilities								(412,798)			(378,761)
Total assets less current liabilities								(412,075)			(377,807)
Creditors: Amounts falling due after more than one year								(15,531)			(21,289)
Net liabilities								(427,606)			(399,096)
Capital and reserves
Called up share capital		4			10						10
Profit and loss account					(427,616)						(399,106)
Shareholders' deficit								(427,606)			(399,096)

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 11 September 2015

......................................... Mr J Evans Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Gradplus Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2014 to 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis, despite the balance sheet showing a net deficiency of £399,096 at the year end, this is due to the continued support of the Discovery ADR Groups bankers and directors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line
Computer equipment	33% straight line
Motor vehicles	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Gradplus Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2014 to 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		31,789			31,789
At 31 December 2014		31,789			31,789
Depreciation
At 1 May 2014		30,835			30,835
Charge for the period		231			231
At 31 December 2014		31,066			31,066
Net book value
At 31 December 2014		723			723
At 30 April 2014		954			954

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 December 2014 £			30 April 2014 £
Amounts falling due within one year		7,718			7,118
Amounts falling due after more than one year		15,531			21,289
Total secured creditors		23,249			28,407

Included in the creditors are the following amounts due after more than five years:

		31 December 2014 £			30 April 2014 £
After more than five years by instalments		-			600

Page 4

Gradplus Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2014 to 31 December 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	31 December 2014						30 April 2014
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

5	Related party transactions

Director's advances and credits

	1 May 2014 to 31 December 2014 Advance/ Credit £	1 May 2014 to 31 December 2014 Repaid £	Year ended 30 April 2014 Advance/ Credit £	Year ended 30 April 2014 Repaid £
Mr J Evans
Directors Loan Credit	-	-	-	-

6

Control

The company is controlled by Discovery ADR Group Limited ,a holding company, that is ultimately controlled by the Director.

Page 5