Abbreviated Company Accounts - GRANDTEAM LIMITED

04256750 GRANDTEAM LIMITED 2014-11-30 false 2013-12-01 2014-11-30 true 04256750 2013-12-01 2014-11-30 04256750 2014-11-30 04256750 2013-11-30 04256750 uk-gaap-cd-bus:Director1 2013-12-01 2014-11-30 04256750 uk-gaap-cd-bus:Director2 2013-12-01 2014-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-01 2014-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-11-30 iso4217:GBP shares

Registered Number 04256750

GRANDTEAM LIMITED

Abbreviated Accounts

30 November 2014

GRANDTEAM LIMITED Registered Number 04256750

Abbreviated Balance Sheet as at 30 November 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	213	1,747
Investments	3	4,890,000	7,270,000
		4,890,213	7,271,747
Current assets
Debtors		1,839,253	552,994
Cash at bank and in hand		24	8,336
		1,839,277	561,330
Creditors: amounts falling due within one year		(3,086,100)	(6,313,118)
Net current assets (liabilities)		(1,246,823)	(5,751,788)
Total assets less current liabilities		3,643,390	1,519,959
Creditors: amounts falling due after more than one year		(4,500,000)	-
Provisions for liabilities		(1,315,185)	-
Total net assets (liabilities)		(2,171,795)	1,519,959
Capital and reserves
Called up share capital	4	100	100
Revaluation reserve		1,120,869	3,500,869
Profit and loss account		(3,292,764)	(1,981,010)
Shareholders' funds		(2,171,795)	1,519,959

For the year ending 30 November 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 18 August 2015

And signed on their behalf by:
D S Murphy, Director

GRANDTEAM LIMITED Registered Number 04256750

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The company has net liabilities of £2,171,795 and is therefore reliant on the continued support of its bankers. The directors are confident that this support will not be withdrawn and as a result the going concern basis of accounting has been adopted.

These accounts do not include any changes that would be required if the going concern basis was not considered as appropriate.

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

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

Valuation information and policy
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

2Tangible fixed assets

	£
Cost
At 1 December 2013	6,179
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2014	6,179
Depreciation
At 1 December 2013	4,432
Charge for the year	1,534
On disposals	-
At 30 November 2014	5,966
Net book values
At 30 November 2014	213
At 30 November 2013	1,747

3Fixed assets Investments
Investment property cost £7,270,000
Revaluations £2,380,000

Net book value at 30 November 2014 £4,890,000

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100