Graceblue Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05917426 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

GRACEBLUE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

J Timms

M V Lockett

J Haines

I Priest

REGISTERED OFFICE:

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

REGISTERED NUMBER:

05917426 (England and Wales)

ACCOUNTANTS:

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

FIXED ASSETS

Intangible assets

4

1,997

2,330

Tangible assets

5

49,293

58,618

Investments

6

-

1,001

51,290

61,949

CURRENT ASSETS

Debtors

7

2,484,684

2,908,342

Investments

8

2,552

2,901

Cash at bank

452

1,092

2,487,688

2,912,335

CREDITORS

Amounts falling due within one year

9

770,199

1,021,077

NET CURRENT ASSETS

1,717,489

1,891,258

TOTAL ASSETS LESS CURRENT LIABILITIES

1,768,779

1,953,207

CAPITAL AND RESERVES

Called up share capital

11

1,818

2,020

Share premium

369,061

605,560

Capital redemption reserve

554

352

Retained earnings

1,397,346

1,345,275

SHAREHOLDERS' FUNDS

1,768,779

1,953,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 20 November 2017 and were signed on its behalf by:

J Timms - Director

1.	STATUTORY INFORMATION

Graceblue Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Graceblue Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net consultancy fees and services receivable, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Short leasehold

-

Over the life of the lease

Improvements to leasehold

-

Over the life of the lease

Fixtures and fittings

-

20% Straight line

Computer equipment

-

25% Straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates money purchase pension schemes for some of its directors and employees. Contributions

payable to the company's pension schemes are charged to the profit and loss account in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2016 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2016

and 31 March 2017

3,329

AMORTISATION

At 1 April 2016

999

Charge for year

333

At 31 March 2017

1,332

NET BOOK VALUE

At 31 March 2017

1,997

At 31 March 2016

2,330

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Short

to

and

Computer

leasehold

leasehold

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

13,400

44,164

39,311

70,182

167,057

Additions

-

8,075

4,332

9,732

22,139

At 31 March 2017

13,400

52,239

43,643

79,914

189,196

DEPRECIATION

At 1 April 2016

8,040

26,142

25,714

48,543

108,439

Charge for year

2,680

11,722

7,521

9,541

31,464

At 31 March 2017

10,720

37,864

33,235

58,084

139,903

NET BOOK VALUE

At 31 March 2017

2,680

14,375

10,408

21,830

49,293

At 31 March 2016

5,360

18,022

13,597

21,639

58,618

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

1,001

Disposals

(1,001

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

1,001

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

467,567

635,396

Amounts owed by group undertakings

304

304

Other debtors

46,514

289,639

Amount owed by related

undertakings

1,195,909

1,326,330

Directors' current accounts

295,473

283,371

Corporation tax recoverable

133,901

129,968

Prepayments and accrued income

345,016

243,334

2,484,684

2,908,342

8.	CURRENT ASSET INVESTMENTS

2017

2016

£

£

Listed investments

2,552

2,901

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

1,159

23,591

Trade creditors

213,487

142,105

Amounts owed to group undertakings

-

669

Tax

125,159

301,475

Social security and other taxes

64,354

238,391

VAT

51,020

98,863

Other creditors

172,044

125,993

Amounts owed to related

undertakings

55,407

55,407

Accruals and deferred income

87,569

34,583

770,199

1,021,077

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

89,850

-

Between one and five years

-

141,000

89,850

141,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

NIL

Ordinary

£0.00

1

-

202

(2016 - 202,000 )

1,817,600

"A" Ordinary

£0.00

1

1,818

1,818

1,818

2,020

During the year, 202,000 £0.001 Ordinary shares were bought back by the Company. The effect of this on the

capital and reserves of the Company can be seen on the Statement of Changes in Equity on Page 5 of the

Accounts.

12.	PENSION COMMITMENTS

The company operates money purchase pension schemes for the benefit of some of its directors and employees.

The assets of the schemes are administered by trustees in a fund independent from those of the company. The

pension cost represents contributions payable by the company and amounted to £24,319 (2016 : £12,313).

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

J Timms

Balance outstanding at start of year

214,914

208,194

Amounts advanced

12,345

6,720

Amounts repaid

(743

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

226,516

214,914

J Haines

Balance outstanding at start of year

68,457

63,961

Amounts advanced

500

4,496

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

68,957

68,457

14.	RELATED PARTY DISCLOSURES

M V Lockett

Director

During the year, the company paid consultancy fees of £18,000 (2016:£24,000) to a company controlled by this

director.

2017

2016

£

£

Amount due to related party at balance sheet date

-

669

15.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Cobalt Blue Worldwide Limited, a company registered in England and

Wales, in which no party has overall control.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Graceblue Limited for the year ended 31 March 2017 which comprise the Profit & Loss Account,

Balance Sheet, and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Graceblue Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graceblue Limited and state those matters that we have agreed to state to the Board of Directors of Graceblue Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graceblue Limited Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Graceblue 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 financial statements.

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

21 November 2017