Company Registration No. 10656114 (England and Wales)
Grazer Holdings Limited
Unaudited accounts
for the year ended 31 March 2020
Grazer Holdings Limited
Unaudited accounts
Contents
Grazer Holdings Limited
Company Information
for the year ended 31 March 2020
Company Number
10656114 (England and Wales)
Registered Office
44 FURZE LANE
PURLEY
CR8 3EG
ENGLAND
Grazer Holdings Limited
Statement of financial position
as at
31 March 2020
Cash at bank and in hand
1,111
6
Creditors: amounts falling due within one year
(21,752)
(18,255)
Net current liabilities
(20,641)
(17,249)
Total assets less current liabilities
(20,641)
(17,249)
Creditors: amounts falling due after more than one year
(3,000)
(1,666)
Net liabilities
(23,641)
(18,915)
Called up share capital
1,076
1,017
Share premium
42,923
9,982
Profit and loss account
(67,640)
(29,914)
Shareholders' funds
(23,641)
(18,915)
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 September 2020 and were signed on its behalf by
Lewis Foster
Director
Company Registration No. 10656114
Grazer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2020
Grazer Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10656114. The registered office is 44 FURZE LANE, PURLEY, CR8 3EG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
As with with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance and adhering to Government guidance.
At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
Grazer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2020
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.
5
Creditors: amounts falling due within one year
2020
2019
Trade creditors
11,150
7,512
Taxes and social security
(520)
(792)
Other creditors
1,422
1,422
Loans from directors
9,700
10,115
Grazer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2020
6
Creditors: amounts falling due after more than one year
2020
2019
Other creditors
3,000
1,666
Included within creditors is an amount owed to the Directors of £9,700 (2019: £10,116).
The loan is interest free with no fixed repayment terms.
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).