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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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GRANGE PRODUCE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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GRANGE PRODUCE LIMITED |
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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Page |
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Balance sheet | 1 |
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Notes to the financial statements | 2 |
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GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
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BALANCE SHEET |
31 MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 | 24,711 | 28,668 |
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Current assets |
Debtors | 6 |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 8 | ( |
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Provisions for liabilities | 10 | ( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
Called up share capital | 11 |
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Retained earnings |
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( |
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Shareholders' funds |
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( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | Statutory information |
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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. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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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. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
future payments is treated as a liability. |
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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. |
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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) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 April 2017 |
and 31 March 2018 |
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Amortisation |
At 1 April 2017 |
and 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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5. | Tangible fixed assets |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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5. | Tangible fixed assets - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
Cost |
At 1 April 2017 |
and 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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6. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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7. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Tax |
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Other creditors |
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Directors' current accounts | 17,342 | 28,707 |
Accruals and deferred income |
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8. | Creditors: amounts falling due after more than one year |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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9. | Secured debts |
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Assets held under HP agreements are secured on the asset to which they relate. |
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10. | Provisions for liabilities |
2018 | 2017 |
£ | £ |
Deferred tax | 4,695 | - |
GRANGE PRODUCE LIMITED (REGISTERED NUMBER: 07840183) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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10. | Provisions for liabilities - continued |
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Deferred |
tax |
£ |
Charge to Statement of comprehensive income during year |
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Balance at 31 March 2018 |
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11. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1.00 | 100 | 100 |
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12. | Ultimate controlling party |
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The company is controlled by the directors, Mr A Chell and Ms S Mumford, who between them own 100% of the issued |
share capital. |