Grosvenor Provincial Developments Limited - Period Ending 2017-01-31

Registration number: 08859787

Grosvenor Provincial Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2017

Condy Mathias
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Grosvenor Provincial Developments Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Grosvenor Provincial Developments Limited

(Registration number: 08859787)
Balance Sheet as at 31 January 2017

	Note	2017 £	(As restated) 2016 £
Current assets
Stocks	3	-	181,100
Debtors	4	91,473	195
		91,473	181,295
Creditors: Amounts falling due within one year	5	(64,539)	(182,519)
Net assets/(liabilities)		26,934	(1,224)
Capital and reserves
Called up share capital		2	2
Profit and loss account		26,932	(1,226)
Total equity		26,934	(1,224)

For the financial year ending 31 January 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and the Directors' Report has been taken.

Approved and authorised by the Board on 22 June 2017 and signed on its behalf by:
 

Mr D J Lawson Director

Mr N A Thomas Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Grosvenor Provincial Developments Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

Theses financial statments have been prepared using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1 A - the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. These are the company first set of financial statements prepared in accordance with FRS 102. No adjustments have been necessary in making the transition.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Page 2

Grosvenor Provincial Developments Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

Prior period errors

Share capital has previously been underdeclared - an issue of share capital in February 2015 was not refelctedin the subsequent financial statements.

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Share capital	1	1	1
Directors current account	(1)	(1)	(1)

3

Stocks

	2017 £	2016 £
Work in progress	-	181,100

4

Debtors

	2017 £	2016 £
Other debtors	91,473	195
Total current trade and other debtors	91,473	195

5

Creditors

	Note	2017 £	(As restated) 2016 £
Due within one year
Trade creditors		-	1,247
Directors' current accounts	6	33,157	157,788
Other creditors		31,382	23,484
		64,539	182,519

Page 3

Grosvenor Provincial Developments Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

6	Related party transactions

Transactions with directors

2016

Other transactions with directors

Mr and Mrs D Lawson paid expenses of £205,262 on behalf of the company. They received advances from the company of £424,618. At the year end they owed the company £91,473 (2016: -£127,789). No interest was charged on the outstanding amount, and there is no fixed repayment date.

7	Transition to FRS 102

This is the first period in which the company has applied the FRS 102 accounting standards. No adjustments were required to the figures in respect of the transition to FRS102

Page 4