Company Registration No. 04781357 (England and Wales)
Grace Productions Limited
Unaudited accounts
for the year ended 31 May 2019
Grace Productions Limited
Unaudited accounts
Contents
Grace Productions Limited
Company Information
for the year ended 31 May 2019
Directors
Mrs Angela Tostevin
Mr Ray Tostevin
Company Number
04781357 (England and Wales)
Registered Office
3rd Floor Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
Grace Productions Limited
Statement of financial position
as at 31 May 2019
Tangible assets
4,040
5,387
Creditors: amounts falling due within one year
(15,533)
(24,236)
Net current liabilities
(15,533)
(20,143)
Total assets less current liabilities
(11,493)
(14,756)
Creditors: amounts falling due after more than one year
(144,757)
(129,003)
Net liabilities
(156,250)
(143,759)
Called up share capital
200
200
Profit and loss account
(156,940)
(144,449)
Shareholders' funds
(156,250)
(143,759)
For the year ending 31 May 2019 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 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 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.
Approved by the Board on 26 February 2020.
Mr Ray Tostevin
Director
Company Registration No. 04781357
Grace Productions Limited
Notes to the Accounts
for the year ended 31 May 2019
Grace Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 04781357. The registered office is 3rd Floor Vyman House, 104 College Road, Harrow, Middlesex, HA1 1BQ.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% as per reducing balance method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Plant & machinery
Grace Productions Limited
Notes to the Accounts
for the year ended 31 May 2019
6
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
7,616
13,056
Trade creditors
3,905
4,505
Taxes and social security
235
1,488
Other creditors
3,777
5,187
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Creditors: amounts falling due after more than one year
2019
2018
Other creditors
144,757
129,003
8
Average number of employees
During the year the average number of employees was 1 (2018: 1).
