false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-01-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
530,385
509,478
320,381
719,482
120,824
96,423
90,638
126,609
592,873
409,561
xbrli:pure
xbrli:shares
iso4217:GBP
05268412
2017-01-01
2017-12-31
05268412
2017-12-31
05268412
2016-12-31
05268412
2016-12-31
05268412
bus:RegisteredOffice
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass1
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass2
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass3
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass4
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass5
2017-01-01
2017-12-31
05268412
bus:LeadAgentIfApplicable
2017-01-01
2017-12-31
05268412
bus:Director2
2017-01-01
2017-12-31
05268412
bus:CompanySecretary1
2017-01-01
2017-12-31
05268412
core:MotorVehicles
2016-12-31
05268412
core:MotorVehicles
2017-12-31
05268412
core:MotorVehicles
2017-01-01
2017-12-31
05268412
core:WithinOneYear
2017-12-31
05268412
core:WithinOneYear
2016-12-31
05268412
core:ShareCapital
2017-12-31
05268412
core:ShareCapital
2016-12-31
05268412
core:RetainedEarningsAccumulatedLosses
2017-12-31
05268412
core:RetainedEarningsAccumulatedLosses
2016-12-31
05268412
core:MotorVehicles
2016-12-31
05268412
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2017-01-01
2017-12-31
05268412
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2017-01-01
2017-12-31
05268412
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2017-01-01
2017-12-31
05268412
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2017-01-01
2017-12-31
05268412
bus:PrivateLimitedCompanyLtd
2017-01-01
2017-12-31
05268412
bus:OrdinaryShareClass1
2016-12-31
05268412
bus:OrdinaryShareClass2
2017-12-31
05268412
bus:OrdinaryShareClass3
2017-12-31
05268412
bus:OrdinaryShareClass4
2017-12-31
05268412
bus:OrdinaryShareClass5
2017-12-31
05268412
bus:AllOrdinaryShares
2017-12-31
05268412
bus:AllOrdinaryShares
2016-12-31
COMPANY REGISTRATION NUMBER:
05268412
Gravells Services Limited
|
|
Filleted Unaudited Financial Statements
|
|
Gravells Services Limited
|
|
Year ended 31 December 2017
Officers and Professional Advisers
|
1
|
|
|
Statement of Income and Retained Earnings
|
0
|
|
|
Statement of Financial Position
|
2
|
|
|
Notes to the Financial Statements
|
4
|
|
|
Gravells Services Limited
|
|
Officers and Professional Advisers
|
|
Company secretary
|
Mr J Gravell
|
|
|
Registered office
|
Gravells Service Centre
|
|
Pembrey Road
|
|
Kidwelly
|
|
Dyfed
|
|
SA17 4TF
|
|
|
Accountants
|
James & Uzzell Ltd
|
|
Chartered Certified Accountants
|
|
Axis 15, Axis Court
|
|
Mallard Way
|
|
Riverside Business Park
|
|
Swansea
|
|
SA7 0AJ
|
|
|
Gravells Services Limited
|
|
Statement of Financial Position
|
|
31 December 2017
FIXED ASSETS
Tangible assets
|
5
|
592,873
|
409,561
|
|
|
|
|
CURRENT ASSETS
Debtors
|
6
|
10,613
|
17,243
|
Cash at bank and in hand
|
57,411
|
179,629
|
|
--------
|
---------
|
|
68,024
|
196,872
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
7
|
385,315
|
368,866
|
|
---------
|
---------
|
NET CURRENT LIABILITIES
|
317,291
|
171,994
|
|
---------
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
275,582
|
237,567
|
|
|
|
|
PROVISIONS
Taxation including deferred tax
|
8,604
|
13,795
|
|
---------
|
---------
|
NET ASSETS
|
266,978
|
223,772
|
|
---------
|
---------
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
8
|
2
|
2
|
Profit and loss account
|
266,976
|
223,770
|
|
---------
|
---------
|
MEMBERS FUNDS
|
266,978
|
223,772
|
|
---------
|
---------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Gravells Services Limited
|
|
Statement of Financial Position (continued)
|
|
31 December 2017
These financial statements were approved by the
board of directors
and authorised for issue on
26 June 2018
, and are signed on behalf of the board by:
Mr J Gravell
Director
Company registration number:
05268412
Gravells Services Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2017
1.
GENERAL INFORMATION
Gravells Services Limited
is a private company limited by shares incorporated in the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are renting and leasing of cars and light motor vehicles.
2.
STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31st December 2016. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The directors have considered the future trading position of the company and are confident that the going cencern principle can be applied to the financial statements.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rendering of services Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
4.
STAFF COSTS
The average number of persons employed by the company during the year, including the directors, amounted to nil (2016: nil).
5.
TANGIBLE ASSETS
|
Motor vehicles
|
Total
|
|
£
|
£
|
Cost
|
|
|
At 1 January 2017
|
530,385
|
530,385
|
Additions
|
509,478
|
509,478
|
Disposals
|
(
320,381)
|
(
320,381)
|
|
---------
|
---------
|
At 31 December 2017
|
719,482
|
719,482
|
|
---------
|
---------
|
Depreciation
|
|
|
At 1 January 2017
|
120,824
|
120,824
|
Charge for the year
|
96,423
|
96,423
|
Disposals
|
(
90,638)
|
(
90,638)
|
|
---------
|
---------
|
At 31 December 2017
|
126,609
|
126,609
|
|
---------
|
---------
|
Carrying amount
|
|
|
At 31 December 2017
|
592,873
|
592,873
|
|
---------
|
---------
|
At 31 December 2016
|
409,561
|
409,561
|
|
---------
|
---------
|
|
|
|
6.
DEBTORS
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
10,611
|
8,014
|
Other debtors
|
2
|
9,229
|
|
--------
|
--------
|
|
10,613
|
17,243
|
|
--------
|
--------
|
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Corporation tax
|
14,702
|
1,436
|
Social security and other taxes
|
7,862
|
–
|
Other creditors
|
362,751
|
367,430
|
|
---------
|
---------
|
|
385,315
|
368,866
|
|
---------
|
---------
|
|
|
|
8.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2017
|
2016
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
–
|
–
|
2
|
2
|
A ordinary shares of £ 0.01 each
|
110
|
1
|
–
|
–
|
B ordinary shares of £ 0.01 each
|
60
|
1
|
–
|
–
|
C ordinary shares of £ 0.01 each
|
10
|
–
|
–
|
–
|
D ordinary shares of £ 0.01 each
|
10
|
–
|
–
|
–
|
E ordinary shares of £0.01 each
|
10
|
–
|
–
|
–
|
|
----
|
----
|
----
|
----
|
|
200
|
2
|
2
|
2
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
9.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The company had no transactions with directors.
10.
RELATED PARTY TRANSACTIONS
During the year the company entered into transactions with related parties as follows:
|
|
2017 |
2016 |
|
|
£ |
£ |
|
Balances owing to related parties |
360,622 |
365,400 |
|
|
--------- |
--------- |
|
Sales to related parties |
293,442 |
313,837 |
|
|
--------- |
--------- |
|
Purchases from related parties |
480,537 |
490,002 |
|
|
--------- |
--------- |
|
|
|
|