Company Registration No. 01868974 (England and Wales)
JOHN GREASLEY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
JOHN GREASLEY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
JOHN GREASLEY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
227,348
161,728
Current assets
Debtors
255,110
253,243
Cash at bank and in hand
433,131
241,306
688,241
494,549
Creditors: amounts falling due within one year
(210,421)
(159,253)
Net current assets
477,820
335,296
Total assets less current liabilities
705,168
497,024
Creditors: amounts falling due after more than one year
(30,445)
(39,570)
Provisions for liabilities
(26,940)
-
647,783
457,454
Capital and reserves
Called up share capital
3
15,000
15,000
Profit and loss account
632,783
442,454
Shareholders' funds
647,783
457,454
For the financial year ended 31 December 2015 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 25 February 2016
JH Greasley
Director
Company Registration No. 01868974
JOHN GREASLEY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for golf course construction and landscape contracting net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Loose tools
20% per annum on cost
Plant and machinery
25% per annum on cost
Fixtures, fittings & equipment
10% or 20% per annum on cost
Motor vehicles
25% per annum on cost
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
JOHN GREASLEY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
1,009,870
Additions
164,757
Disposals
(33,135)
At 31 December 2015
1,141,492
Depreciation
At 1 January 2015
848,142
On disposals
(33,135)
Charge for the year
99,137
At 31 December 2015
914,144
Net book value
At 31 December 2015
227,348
At 31 December 2014
161,728
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
11,251 Ordinary 'A' Shares of £1 each
11,251
11,251
2,998 Ordinary 'B' Shares of £1 each
2,998
2,998
751 Ordinary 'C' Shares of £1 each
751
751
15,000
15,000