Greensea Hydroponics & Plant Lighting Lt - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05578181 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2014

for

Greensea Hydroponics and

Plant Lighting Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

Mr J D Human

SECRETARY:

Mrs J A M Human

REGISTERED OFFICE:

25 Rowan Walk

Mildenhall

Bury St Edmunds

Suffolk

IP28 7PP

REGISTERED NUMBER:

05578181 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

2

5,197

6,471

CURRENT ASSETS

Stocks

12,417

13,332

Debtors

3,167

2,271

Cash at bank and in hand

50

2,253

15,634

17,856

CREDITORS

Amounts falling due within one year

57,832

56,258

NET CURRENT LIABILITIES

(42,198

)

(38,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,001

)

(31,931

)

CREDITORS

Amounts falling due after more than one year

-

2,546

NET LIABILITIES

(37,001

)

(34,477

)

CAPITAL AND RESERVES

Called up share capital

3

50,600

50,600

Profit and loss account

(87,601

)

(85,077

)

SHAREHOLDERS' FUNDS

(37,001

)

(34,477

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 October 2015 and were signed by:

Mr J D Human - Director

1.	ACCOUNTING POLICIES

Accounting convention and going concern

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

The company is dependent upon the continuing financial support of its bank, director and his family in order for

it to continue to trade. Having reviewed the expected results and cash flow of the company the director is of

the opinion that, whilst there is always considerable uncertainty in predicting cash flows more than a few

months into the future the company will continue to have the support of their bank such that the cash

demands can be met and it is therefore appropriate to prepare the financial statements on the going concern

basis.

Turnover

Turnover represents the total value of sales made during the year excluding value added tax.

Tangible fixed assets

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

Property improvements

-

20% on reducing balance

Fixtures and equipment

-

15% on reducing balance

Website

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

slow moving items.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

20,468

DEPRECIATION

At 1 October 2013

13,997

Charge for year

1,274

At 30 September 2014

15,271

NET BOOK VALUE

At 30 September 2014

5,197

At 30 September 2013

6,471

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,265

Ordinary

£40

50,600

50,600