Gratel Property Services Limited - Period Ending 2015-05-31

Registration number: 01562091

Gratel Property Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

Gratel Property Services Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gratel Property Services Limited
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gratel Property Services Limited for the year ended 31 May 2015 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Gratel Property Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gratel Property Services Limited and state those matters that we have agreed to state to them, as a body, and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gratel Property Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gratel Property Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gratel Property Services Limited. You consider that Gratel Property Services 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 accounts of Gratel Property Services 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 accounts.

......................................

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

18 December 2015

Page 1

Gratel Property Services Limited
(Registration number: 01562091)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			11,440			14,460
Current assets
Stocks					1,000			500
Debtors					57,763			58,931
Cash at bank and in hand					34,718			27,338
					93,481			86,769
Creditors: Amounts falling due within one year					(53,959)			(49,751)
Net current assets					39,522			37,018
Total assets less current liabilities					50,962			51,478
Provisions for liabilities					(1,348)			(1,746)
Net assets					49,614			49,732
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					49,514			49,632
Shareholders' funds					49,614			49,732

For the year ending 31 May 2015 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 December 2015 and signed on its behalf by:

.........................................
Mr Hawkins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Gratel Property Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% per annum on a reducing balance basis
Fixtures and fittings	15% per annum on a reducing balance basis
Motor vehicles	25% per annum on a reducing balance basis
Computer equipment	3 year straight line basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Gratel Property Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		92,794			92,794
At 31 May 2015		92,794			92,794
Depreciation
At 1 June 2014		78,334			78,334
Charge for the year		3,020			3,020
At 31 May 2015		81,354			81,354
Net book value
At 31 May 2015		11,440			11,440
At 31 May 2014		14,460			14,460

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by Mr G J Hawkins and Mrs S Hawkins directors and shareholders of the company.

Page 4