Company Registration No. 05501219 (England and Wales)
GRACE ALLEN HOMES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
GRACE ALLEN HOMES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GRACE ALLEN HOMES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,467
1,119
Current assets
Stocks
964,093
2,025,855
Debtors
57,502
21,236
Cash at bank and in hand
209,964
57,025
1,231,559
2,104,116
Creditors: amounts falling due within one year
(889,132)
(1,799,331)
Net current assets
342,427
304,785
Total assets less current liabilities
343,894
305,904
Creditors: amounts falling due after more than one year
(31,020)
(86,160)
312,874
219,744
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
312,873
219,743
Shareholders' funds
312,874
219,744
For the financial year ended 30 April 2016 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 her 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 9 January 2017
Ms D S Angell
Director
Company Registration No. 05501219
GRACE ALLEN HOMES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 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).
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 goods and services 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:
Computer equipment
25% reducing balance
1.5
Stock and work in progress
Work in Progress is valued on the basis of direct costs and attributable overheads less any foreseeable losses. No element of profit is included in the valuation.
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
7,420
Additions
837
At 30 April 2016
8,257
Depreciation
At 1 May 2015
6,301
Charge for the year
489
At 30 April 2016
6,790
Net book value
At 30 April 2016
1,467
At 30 April 2015
1,119
GRACE ALLEN HOMES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
4
Related party relationships and transactions
Other transactions
The company is under the control of the Director, Ms D Angell by way of her shareholding. At the balance sheet date the company owed the Director £ 7 7 2 (201 5 : £ 92 ).
the Director £
7
7
2
(201
5
: £
92
).