Company Registration No. 04280083 (England and Wales)
GRID 24 LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
GRID 24 LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GRID 24 LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,920
7,828
Current assets
Debtors
18,240
25,192
Cash at bank and in hand
79
79
18,319
25,271
Creditors: amounts falling due within one year
(41,635)
(33,992)
Net current liabilities
(23,316)
(8,721)
Total assets less current liabilities
(16,396)
(893)
Provisions for liabilities
(1,108)
(1,229)
(17,504)
(2,122)
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
(18,504)
(3,122)
Shareholders' funds
(17,504)
(2,122)
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 12 September 2016
Mr N A I Thomas
Director
Company Registration No. 04280083
GRID 24 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).
These financial statements have been prepared on the assumption that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the continuing support of the
bankers,
director
s
and creditors.
If the company were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts, to reclassify fixed assets as current assets and to provide for further liabilities which might arise.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
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:
Furniture and equipment
20% reducing balance
1.4
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
40,103
Additions
822
At 31 December 2015
40,925
Depreciation
At 1 January 2015
32,275
Charge for the year
1,730
At 31 December 2015
34,005
Net book value
At 31 December 2015
6,920
At 31 December 2014
7,828
GRID 24 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
500 Ordinary "A" shares of £1 each
500
500
500 Ordinary "B" shares of £1 each
500
500
1,000
1,000
The
Ordinary
"A" and
Ordinary
"B" shares constitute different classes of shares but confer upon the holders the same rights and rank pari pasu in all respects.