DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
Company Registration No. 05068912 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,000
35,000
Tangible assets
4
6,006
1,265
36,006
36,265
Current assets
Stocks
4,885
5,375
Debtors
5
153,356
144,246
Cash at bank and in hand
264,013
258,871
422,254
408,492
Creditors: amounts falling due within one year
6
(130,992)
(138,664)
Net current assets
291,262
269,828
Total assets less current liabilities
327,268
306,093
Provisions for liabilities
(705)
-
Net assets
326,563
306,093
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
325,563
305,093
Total equity
326,563
306,093
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 December 2018 and are signed on its behalf by:
Mr David Granger
Director
Company Registration No. 05068912
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
David Granger Architectural Design Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Dairy, Mill Street, Packington, Ashby de la Zouch, Leicestershire, LE65 1WN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT
.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% to 33.3% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Work in progress
Work in progess is valued at the lower of cost and net realisable value.
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 13 (2017 - 13
).
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2017 and 31 March 2018
100,000
Amortisation and impairment
At 1 April 2017
65,000
Amortisation charged for the year
5,000
At 31 March 2018
70,000
Carrying amount
At 31 March 2018
30,000
At 31 March 2017
35,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2017
31,416
Additions
8,404
Disposals
(6,643)
At 31 March 2018
33,177
Depreciation and impairment
At 1 April 2017
30,151
Depreciation charged in the year
3,532
Eliminated in respect of disposals
(6,512)
At 31 March 2018
27,171
Carrying amount
At 31 March 2018
6,006
At 31 March 2017
1,265
DAVID GRANGER ARCHITECTURAL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
148,083
141,417
Other debtors
5,273
2,537
153,356
143,954
Amounts falling due after more than one year:
Deferred tax asset
-
292
Total debtors
153,356
144,246
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
5,964
4,130
Corporation tax
58,578
65,878
Other taxation and social security
58,704
55,396
Other creditors
7,746
13,260
130,992
138,664
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2018
2017
£
£
50,253
72,737