Groom Property Maintenance Limited - Limited company - abbreviated

REGISTERED NUMBER: 04232647 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

FOR

GROOM PROPERTY MAINTENANCE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P Groom

Mrs S Groom

SECRETARY:

Mrs S Groom

REGISTERED OFFICE:

24 Lammas Street

Carmarthen

Carmarthenshire

SA31 3AL

REGISTERED NUMBER:

04232647 (England and Wales)

ACCOUNTANTS:

Clay Shaw Butler

Chartered Accountants

24 Lammas Street

Carmarthen

Carmarthenshire

SA31 3AL

FIXED ASSETS

Tangible assets

2

137,935

134,602

CURRENT ASSETS

Stocks

80,198

47,377

Debtors

516,656

415,573

Investments

133,825

Cash at bank

233

50,031

730,912

646,806

CREDITORS

Amounts falling due within one year

3

411,415

365,083

NET CURRENT ASSETS

319,497

281,723

TOTAL ASSETS LESS CURRENT
LIABILITIES

457,432

416,325

CREDITORS

Amounts falling due after more than one
year

3

(12,535

)

(11,528

)

PROVISIONS FOR LIABILITIES

(15,067

)

(19,086

)

NET ASSETS

429,830

385,711

CAPITAL AND RESERVES

Called up share capital

4

2

Revaluation reserve

8,728

Profit and loss account

421,100

376,981

SHAREHOLDERS' FUNDS

429,830

385,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 2 July 2014 and were signed on its behalf by:

Mr P Groom - Director

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).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

12.5% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

12.5% on cost

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

DEFERRED TAX

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

GOVERNMENT GRANTS RECEIVED

Government grants received as contributions towards capital expenditure during the year are transferred to

deferred income and released to the profit and loss account over a period equal to the estimated useful life of the

asset that was purchased with the funds received.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

344,861

Additions

40,009

Disposals

(14,246

)

At 28 February 2014

370,624

DEPRECIATION

At 1 March 2013

210,259

Charge for year

34,179

Eliminated on disposal

(11,749

)

At 28 February 2014

232,689

NET BOOK VALUE

At 28 February 2014

137,935

At 28 February 2013

134,602

3.

CREDITORS

Creditors include an amount of £ 115,547 (28.2.13 - £ 117,689 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

2

Ordinary

£1

2

Groom Property Maintenance Limited - Limited company - abbreviated - 11.0.0

Groom Property Maintenance Limited - Limited company - abbreviated - 11.0.0