The Graham Montrose Company Limited - Limited company accounts 20.1
The Graham Montrose Company Limited - Limited company accounts 20.1
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| FOR |
| THE GRAHAM MONTROSE COMPANY LIMITED |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Statement of Changes in Equity | 5 |
| Notes to the Financial Statements | 6 |
| THE GRAHAM MONTROSE COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Hillside |
| Albion Street |
| Chipping Norton |
| Oxfordshire |
| OX7 5BH |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| The directors present their report with the financial statements of the company for the year ended 30 April 2020. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 May 2019 to the date of this |
| report. |
| Other changes in directors holding office are as follows: |
| DONATIONS TO CHARITABLE BODIES |
| No charitable donations were made in the year |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
| relating to small companies. |
| ON BEHALF OF THE BOARD: |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 30.4.20 | 30.4.19 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| (41,470 | ) | (67,656 | ) |
| Other operating income |
| OPERATING PROFIT/(LOSS) | 4 | ( |
) |
| Interest receivable and similar income |
| PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
| Tax on profit/(loss) | 5 | ( |
) | ( |
) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| BALANCE SHEET |
| 30 APRIL 2020 |
| 30.4.20 | 30.4.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 May 2018 |
| Changes in equity |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 30 April 2019 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 April 2020 |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 1. | STATUTORY INFORMATION |
| The Graham Montrose Company Limited is a |
| 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 |
| Turnover |
| Turnover represents public house takings, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Leasehold property | - |
| Furniture & equipment | - |
| Computer equipment | - |
| The directors consider that freehold properties are maintained in such a state of repair that their |
| residual value is at least equal to their net book value. As a result, the corresponding depreciation |
| would not be material and therefore is not charged in the profit and loss account. |
| The directors perform annual impairment reviews in accordance with the requirements of FRS102 (1A) |
| to ensure that the recoverable amount is not lower than the carrying value. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Directors' remuneration |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2019 - operating loss) is stated after charging: |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TAXATION |
| Analysis of the tax credit |
| The tax credit on the profit for the year was as follows: |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Prior years | (4,114 | ) | - |
| Total current tax | ( |
) |
| Deferred tax | ( |
) |
| Tax on profit/(loss) | ( |
) | ( |
) |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 6. | TANGIBLE FIXED ASSETS |
| Freehold | Leasehold | Furniture | Computer |
| property | property | & equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts or finance leases |
| are as follows: |
| Furniture |
| & equipment |
| £ |
| COST |
| At 1 May 2019 |
| and 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| 7. | STOCKS |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| THE GRAHAM MONTROSE COMPANY LIMITED (REGISTERED NUMBER: 01212364) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 6,256 | 18,687 |
| Other creditors |
| Directors' current accounts | 1,885 | 1,751 |
| Accrued expenses |
| 10. | PROVISIONS FOR LIABILITIES |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2019 |
| Provided during year |
| Movement in provision |
| Balance at 30 April 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 30.4.20 | 30.4.19 |
| value: | £ | £ |
| Ordinary A | £1 | 300 | 300 |
| Ordinary B | £1 | 300 | 300 |
| Ordinary C | £1 | 400 | 400 |
| 1,000 | 1,000 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2019 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 April 2020 |