Abbreviated Company Accounts - GREY DUCK LTD

08535245 GREY DUCK LTD 2014-05-31 false 2013-05-20 2014-05-31 true 08535245 2013-05-20 2014-05-31 08535245 2014-05-31 08535245 uk-gaap-cd-bus:Director1 2013-05-20 2014-05-31 08535245 uk-gaap-cd-bus:Director2 2013-05-20 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-20 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP shares

Registered Number 08535245

GREY DUCK LTD

Abbreviated Accounts

31 May 2014

GREY DUCK LTD Registered Number 08535245

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014
		£
Fixed assets
Tangible assets	2	83,624
		83,624
Current assets
Stocks		16,473
Debtors		7,065
Cash at bank and in hand		2,394
		25,932
Creditors: amounts falling due within one year		(107,067)
Net current assets (liabilities)		(81,135)
Total assets less current liabilities		2,489
Total net assets (liabilities)		2,489
Capital and reserves
Called up share capital	3	102
Profit and loss account		2,387
Shareholders' funds		2,489

For the year ending 31 May 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 February 2015

And signed on their behalf by:
Mr H Weldon, Director

GREY DUCK LTD Registered Number 08535245

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The initial costs and refurbishment of the restaurant have been financed by personal loans from the director. The restaurant is profitable and is expected to pay these directors loans down over time. They are not expected to be immediately payable in full on demand. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold 10% Straight Line
Computer Equipment 20% Straight line
Fixtures, fittings & Equipment 25% Straight line
Motor Vehicles 25% Straight line

2Tangible fixed assets

	£
Cost
Additions	96,976
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	96,976
Depreciation
Charge for the year	13,352
On disposals	-
At 31 May 2014	13,352
Net book values
At 31 May 2014	83,624

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £
102 Ordinary shares of £1 each	102