Groovy UK Limited - Limited company - abbreviated - 11.6

Groovy UK Limited - Limited company - abbreviated - 11.6

GROOVY UK LIMITED - Company Information

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REGISTERED NUMBER: 04618091 (England and Wales)















Abbreviated Unaudited Accounts

for the Year Ended

31 January 2015

for

Groovy UK Limited

Groovy UK Limited (Registered number: 04618091)

Contents of the Abbreviated Accounts
for the Year Ended 31 January 2015










Page

Company Information 1

Chartered Accountants' Report 2

Abbreviated Balance Sheet 3

Notes to the Abbreviated Accounts 5

Groovy UK Limited

Company Information
for the Year Ended 31 January 2015







DIRECTOR: Ms M Scott





SECRETARY: Ms M Scott





REGISTERED OFFICE: 12 Corner House
Narborough Wood Park
Desford Road
Enderby
Leicestershire
LE19 4XT





REGISTERED NUMBER: 04618091 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Groovy UK Limited


The following reproduces the text of the report prepared for the director in respect of the company's
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on
pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approval the financial statements of Groovy UK Limited for the year ended 31 January 2015 which
comprise the Profit and Loss Account, the Balance Sheet, the Cash Flow Statement, the Statement of Total
Recognised Gains and Losses 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 at icaew.com/membershandbook.

This report is made solely to the director of Groovy UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Groovy UK Limited and state those matters that we have agreed to state to the director of Groovy UK Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Groovy 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 Groovy UK Limited. You consider that Groovy 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 Groovy 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.

We draw your attention to note 16 (abbreviated accounts note 7) that states the financial statements have
been drawn up on a going concern basis on the understanding that creditors continue to support the
company under a Creditors Voluntary Arrangement agreed on 26 October 2010.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP



This page does not form part of the abbreviated accounts

Page 2
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Groovy UK Limited


29 April 2015

This page does not form part of the abbreviated accounts

Page 3
Groovy UK Limited (Registered number: 04618091)

Abbreviated Balance Sheet
31 January 2015

31.1.15 31.1.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - 161,328
Tangible assets 3 31,713 28,755
Investments 4 1 1
31,714 190,084

CURRENT ASSETS
Stocks 230,260 140,959
Debtors 377,986 266,975
Cash at bank and in hand 72,020 190,947
680,266 598,881
CREDITORS
Amounts falling due within one year 555,767 852,076
NET CURRENT ASSETS/(LIABILITIES) 124,499 (253,195 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
156,213
(63,111		 )

CREDITORS
Amounts falling due after more than
one year
-
619,761
NET ASSETS/(LIABILITIES) 156,213 (682,872 )

CAPITAL AND RESERVES
Called up share capital 5 1,000,100 1,000,100
Profit and loss account (843,887 ) (1,682,972 )
SHAREHOLDERS' FUNDS 156,213 (682,872 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these abbreviated accounts

Page 3 continued...
Groovy UK Limited (Registered number: 04618091)

Abbreviated Balance Sheet - continued
31 January 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 29 April 2015 and were signed by:





Ms M Scott - Director


The notes form part of these abbreviated accounts

Page 4
Groovy UK Limited (Registered number: 04618091)

Notes to the Abbreviated Accounts
for the Year Ended 31 January 2015


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements
The financial statements contain information about Groovy UK Limited as an individual company and
do not contain consolidated financial information as the parent of a group. The company has taken
the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial
statements.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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


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

Fixtures and fittings -25% on reducing balance
Motor vehicles -25% on cost
Computer equipment -33% on cost
Plant and machinery -33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date where transactions or events have occurred at that date that will result in
an obligation to pay more, or a right to pay less or to receive more tax with the following
exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.

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

Page 5 continued...
Groovy UK Limited (Registered number: 04618091)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 January 2015


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2014 820,770
Disposals (820,770 )
At 31 January 2015 -
AMORTISATION
At 1 February 2014 659,442
Eliminated on disposal (659,442 )
At 31 January 2015 -
NET BOOK VALUE

At 31 January 2015 -
At 31 January 2014 161,328

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2014 226,326
Additions 15,566
At 31 January 2015 241,892
DEPRECIATION
At 1 February 2014 197,571
Charge for year 12,608
At 31 January 2015 210,179
NET BOOK VALUE
At 31 January 2015 31,713
At 31 January 2014 28,755

Page 6 continued...
Groovy UK Limited (Registered number: 04618091)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 January 2015


4. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 February 2014
and 31 January 2015 1
NET BOOK VALUE
At 31 January 2015 1
At 31 January 2014 1

The company's investments at the Balance Sheet date in the share capital of companies include the
following:


Groovy Licencing Limited
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.1.15 31.1.14
£    £   
Aggregate capital and reserves 1 1

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.15 31.1.14
value: £    £   
100 Ordinary £1 100 100
1,000,000 Redeemable preference £1 1,000,000 1,000,000
1,000,100 1,000,100

Page 7