Grunwald UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03963433 (England and Wales)

GRUNWALD UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTOR:

J N Causebrook

REGISTERED OFFICE:

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

BUSINESS ADDRESS:

Suite 4 Pattinson House

Oak Park

East Road

Sleaford

Lincolnshire

NG34 7EQ

REGISTERED NUMBER:

03963433 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Tangible assets

4

6,815

6,729

CURRENT ASSETS

Debtors

5

251,765

288,625

Cash at bank and in hand

30,454

11,030

282,219

299,655

CREDITORS

Amounts falling due within one year

6

51,613

74,846

NET CURRENT ASSETS

230,606

224,809

TOTAL ASSETS LESS CURRENT LIABILITIES

237,421

231,538

PROVISIONS FOR LIABILITIES

1,159

1,144

NET ASSETS

236,262

230,394

CAPITAL AND RESERVES

Called up share capital

9

27

24

Retained earnings

236,235

230,370

SHAREHOLDERS' FUNDS

236,262

230,394

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

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

The director acknowledges his 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 director on 26 February 2019 and were signed by:

J N Causebrook - Director

1.	STATUTORY INFORMATION

Grunwald UK 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 represents net invoiced commissions received on machine sales and sales of goods, excluding value

added tax. Commission is recognised when receivable based on the completion of a machine installation. Sales

of goods are recognised when a sale is unconditional in accordance with the underlying order.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

24,810

Additions

1,989

Disposals

(399

)

At 31 October 2018

26,400

DEPRECIATION

At 1 November 2017

18,081

Charge for year

1,777

Eliminated on disposal

(273

)

At 31 October 2018

19,585

NET BOOK VALUE

At 31 October 2018

6,815

At 31 October 2017

6,729

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

39,724

42,363

Other debtors

212,041

246,262

251,765

288,625

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

18,723

Trade creditors

11,648

7,102

Taxation and social security

29,095

34,194

Other creditors

10,870

14,827

51,613

74,846

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

4,400

4,400

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

18,723

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

90

A Ordinary

20p

18

18

20

B Ordinary

20p

4

4

10

C Ordinary

20p

2

2

13

D Ordinary

20p

3

-

27

24

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

13

D Ordinary

20p

3

-

The following shares were issued during the year for cash at par :

13 D Ordinary shares of 20p

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2018 and

31 October 2017:

2018

2017

£

£

Mrs P S Robinson

Balance outstanding at start of year

72,489

50,381

Amounts advanced

57,971

76,108

Amounts repaid

(130,460

)

(54,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

72,489

J N Causebrook

Balance outstanding at start of year

58,118

43,567

Amounts advanced

123,861

58,551

Amounts repaid

(35,126

)

(44,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

146,853

58,118

Interest on overdrawn directors current accounts is charged at the official rate. Loans made to the directors

are unsecured and repayable on demand.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Grunwald UK Limited for the year ended 31 October 2018 which comprise the Income

Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Grunwald UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grunwald UK Limited and state those matters that we have agreed to state to the director of Grunwald UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grunwald UK Limited and its director for our work or for this report.

It is your duty to ensure that Grunwald UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grunwald UK Limited. You consider that Grunwald UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grunwald UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

Date: .............................................