Abbreviated Company Accounts - GREETSTONE LIMITED

Abbreviated Company Accounts - GREETSTONE LIMITED

GREETSTONE LIMITED - Company Information

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Registered Number 09033194

GREETSTONE LIMITED

Abbreviated Accounts

31 May 2016

GREETSTONE LIMITED Registered Number 09033194

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Current assets
Stocks - 298,948
Debtors 100 595
Cash at bank and in hand 200,549 1,312
200,649 300,855
Creditors: amounts falling due within one year (40,906) (284,455)
Net current assets (liabilities) 159,743 16,400
Total assets less current liabilities 159,743 16,400
Total net assets (liabilities) 159,743 16,400
Capital and reserves
Called up share capital 100 100
Profit and loss account 159,643 16,300
Shareholders' funds 159,743 16,400
  • For the year ending 31 May 2016 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 directors acknowledge their 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 Board on 21 September 2016

And signed on their behalf by:
S C FLETCHER, Director
G J SMITH, Director

GREETSTONE LIMITED Registered Number 09033194

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover shown in the profit and loss account represents the value of all work done during
the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the
company has fulfilled its contractual obligations and the risks and rewards attaching to the sale
have been transferred to the customer.

Other accounting policies
Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on
normal level of activity. Provision is made for any foreseeable losses where appropriate. No
element of profit is included in the valuation of work in progress.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities.