GRASS & CO LIMITED - Accounts

GRASS & CO LIMITED - Accounts

GRASS & CO LIMITED - Company Information

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Registered Number: 11618930


 

 

 

GRASS & CO LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

GRASS & CO LIMITED
Contents Page
For the year ended 31 March 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Oasis Accountants Limited
31 March 2021



....................................................
Oasis Accountants Limited
Office Gold, Building 3, Chiswick Park
566 Chiswick High Road
London
W4 5YA
14 October 2021
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 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 3,287    4,546 
3,287    4,546 
Current assets      
Stocks 118,784    60,526 
Debtors 284,271    21,760 
Cash at bank and in hand 612,601    57,893 
1,015,656    140,179 
Creditors: amount falling due within one year (80,171)   (4,321)
Net current assets 935,485    135,858 
 
Total assets less current liabilities 938,772    140,404 
Creditors: amount falling due after more than one year (1,047,300)   0 
Provisions for liabilities (452)   0 
Net liabilities (108,980)   140,404 
 

Capital and reserves 		     
Called up share capital 1,109,346    777,600 
Profit and loss account (1,218,326)   (637,196)
Shareholder's funds (108,980)   140,404 
 


For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 14 October 2021 and were signed by:


--------------------------------
BENJAMIN JAMES GRASS
Director
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General Information
GRASS & CO LIMITED is a private company, limited by shares, registered in , registration number 11618930, registration address Office Gold, Building 3 Chiswick Park, 566 Chiswick High Road, London, W4 5YA

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 3.4 Years Straight Line
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

The average number of employees is 2.
Average number of employees during the year was 2 (2020 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2020 6,366    6,366 
Additions -    - 
Disposals -    - 
At 31 March 2021 6,366    6,366 
Depreciation
At 01 April 2020 3,079    3,079 
Charge for year -    - 
On disposals -    - 
At 31 March 2021 3,079    3,079 
Net book values
Closing balance as at 31 March 2021 3,287    3,287 
Opening balance as at 01 April 2020 4,546    4,546 


4.

Share Capital

Authorised
140,541 Class A shares of £0.01 each
Allotted, called up and fully paid
2021
£		   2020
£
140,541 Class A shares of £0.01 each 1,405    1,282 
1,405    1,282 

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