REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 |
|
FOR |
|
GRANGE PRODUCE LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 |
|
FOR |
|
GRANGE PRODUCE LIMITED |
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Balance sheet | 1 |
|
Notes to the financial statements | 2 |
|
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
|
BALANCE SHEET |
31 MARCH 2016 |
|
2016 | 2015 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
|
|
Tangible assets | 5 | 15,224 | 18,851 |
|
|
|
Current assets |
Debtors | 6 |
|
|
|
Creditors |
Amounts falling due within one year | 7 |
|
|
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
|
Creditors |
Amounts falling due after more than one year | 8 |
|
|
Net liabilities | ( |
) | ( |
) |
|
Capital and reserves |
Called up share capital | 9 |
|
|
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
1. | Statutory information |
|
Grange Produce Limited is a private company, limited by shares, registered in England and Wales. The company's registered |
number is 07840183. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is |
Grange Hill House, Grange, Wimborne, Dorset, BH21 4HX. |
|
2. | Accounting policies |
|
Basis of preparing the financial statements |
|
|
The company made a profit of £6,871 (2015: Loss of £1,677) during the year, however had a deficiency of assets at the year |
end of £17,724 (2015: £24,595). The company is dependent upon the continued support of its directors. The directors have |
agreed to continue to support the company over the next 12 months in order that it can meet its working capital |
requirements. |
|
Turnover |
Turnover represents amounts receivable, excluding value added tax, in respect of goods and services provided in the |
ordinary course of business. Turnover is recognised as soon as the good or service has been provided to the customer. |
|
Goodwill |
|
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
Taxation |
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. |
|
The company has tax losses of £15,873 (£2015: 28,371) available for carry forward against future trading profits. |
|
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the |
contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract |
that evidences a residual interest in the assets of the company, after deducting all liabilities. |
|
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any |
losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
3. | Employees and directors |
|
The average number of employees during the year was
|
|
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 April 2015 |
and 31 March 2016 |
|
Amortisation |
At 1 April 2015 |
|
Amortisation for year |
|
At 31 March 2016 |
|
Net book value |
At 31 March 2016 |
|
At 31 March 2015 |
|
|
5. | Tangible fixed assets |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2015 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2016 |
|
|
|
|
Depreciation |
At 1 April 2015 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 March 2016 |
|
|
|
|
Net book value |
At 31 March 2016 |
|
|
|
|
At 31 March 2015 |
|
|
|
|
|
6. | Debtors: amounts falling due within one year |
2016 | 2015 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
7. | Creditors: amounts falling due within one year |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
VAT | 314 | 210 |
Other creditors |
|
|
Directors' current accounts | 25,847 | 37,257 |
Accruals and deferred income |
|
|
|
|
|
8. | Creditors: amounts falling due after more than one year |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
|
|
|
9. | Called up share capital |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
|
Ordinary | £1.00 | 100 | 100 |
|
10. | Ultimate controlling party |
|
The company is controlled by the directors, Mr A Chell and Ms S Mumford, who between them own 100% of the issued |
share capital. |
|
11. | First year adoption |
|
These financial statements for the year ended 31 March 2016 are the first financial statements that comply with FRS 102 |
Section 1A small entities. The date of transition is 1 April 2014. |
|
The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those |
previously used. |
|
The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to |
these financial statements. |
|