Felgrave Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06519938 (England and Wales)

FELGRAVE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr W J Colgrave

Mr P Fellows

Mrs S Colgrave

SECRETARY:

Mr P Fellows

REGISTERED OFFICE:

183 Walsall Road

Great Wyrley

Walsall

West Midlands

Staffordshire

WS6 6NL

REGISTERED NUMBER:

06519938 (England and Wales)

FIXED ASSETS

Tangible assets

4

15,924

21,658

CURRENT ASSETS

Stocks

-

2,400

Debtors

5

4,059

22,213

Cash at bank and in hand

52,907

62,072

56,966

86,685

CREDITORS

Amounts falling due within one year

6

40,023

29,127

NET CURRENT ASSETS

16,943

57,558

TOTAL ASSETS LESS CURRENT LIABILITIES

32,867

79,216

CREDITORS

Amounts falling due after more than one year

7

-

(2,167

)

PROVISIONS FOR LIABILITIES

-

(4,370

)

NET ASSETS

32,867

72,679

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

32,865

72,677

SHAREHOLDERS' FUNDS

32,867

72,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 February 2019 and were signed on its behalf by:

Mr W J Colgrave - Director

1.	STATUTORY INFORMATION

Felgrave Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of value added tax and

trade discounts. Turnover is recognised as services are provided.

Tangible fixed assets

Tangible fixed assets are included at cost less accumulated depreciation and impairment. Cost includes costs

directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated

residual value, of each asset on a systematic basis over its expected useful lives as follows:

Plant & machinery

- 25% reducing balance

Fixtures & fittings

- 25% reducing balance

Motor vehicles

- 25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock were appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Debtors and creditors receivable or 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2017

433

1,437

37,745

39,615

Disposals

(433

)

(1,437

)

-

(1,870

)

At 31 May 2018

-

-

37,745

37,745

DEPRECIATION

At 1 June 2017

296

1,148

16,513

17,957

Charge for year

(1

)

-

5,308

5,307

Eliminated on disposal

(1,443

)

-

-

(1,443

)

At 31 May 2018

(1,148

)

1,148

21,821

21,821

NET BOOK VALUE

At 31 May 2018

1,148

(1,148

)

15,924

15,924

At 31 May 2017

137

289

21,232

21,658

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Other debtors

4,059

22,213

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

2,168

4,000

Taxation and social security

1,511

4,262

Other creditors

36,344

20,865

40,023

29,127

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

-

2,167

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.18

31.5.17

£

£

Hire purchase contracts

2,168

6,167

Assets held on hire purchase are secured on the asset to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

2

Ordinary

£1

2

2

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who each own 50% of the shares.