Grantley Lowe Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06478663 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2016

for

Grantley Lowe Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R Lowe

SECRETARY:

Mrs A A Lowe

REGISTERED OFFICE:

34 St Anne Street

Liverpool

Merseyside

L3 3DS

REGISTERED NUMBER:

06478663 (England and Wales)

ACCOUNTANTS:

McEwan Wallace Limited

68 Argyle Street

Birkenhead

CH41 6AF

FIXED ASSETS

Intangible assets

2

-

100,000

Tangible assets

3

3,737

6,547

3,737

106,547

CURRENT ASSETS

Stocks

28,150

37,493

Debtors

213,112

195,371

Cash at bank

188,471

268,465

429,733

501,329

CREDITORS

Amounts falling due within one year

121,273

378,293

NET CURRENT ASSETS

308,460

123,036

TOTAL ASSETS LESS CURRENT
LIABILITIES

312,197

229,583

PROVISIONS FOR LIABILITIES

539

1,055

NET ASSETS

311,658

228,528

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

310,658

227,528

SHAREHOLDERS' FUNDS

311,658

228,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 26 January 2017 and were signed by:

R Lowe - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Income is recognised on an accruals basis according to delivery of the goods and services supplied.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

500,000

AMORTISATION

At 1 May 2015

400,000

Amortisation for year

100,000

At 30 April 2016

500,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

100,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

50,890

Additions

694

At 30 April 2016

51,584

DEPRECIATION

At 1 May 2015

44,343

Charge for year

3,504

At 30 April 2016

47,847

NET BOOK VALUE

At 30 April 2016

3,737

At 30 April 2015

6,547

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

900

Ordinary 'A'

£1

900

100

Ordinary 'B' and 'C'

£1

100

1,000