Abbreviated Company Accounts - GREWALZ LIMITED

Abbreviated Company Accounts - GREWALZ LIMITED

GREWALZ LIMITED - Company Information

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Registered Number 02152634

GREWALZ LIMITED

Abbreviated Accounts

31 May 2014

GREWALZ LIMITED Registered Number 02152634

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 579,700 613,800
Tangible assets 3 31,205 21,907
Investments - -
610,905 635,707
Current assets
Stocks 102,250 67,250
Debtors 12,532 12,246
Investments - -
Cash at bank and in hand 84,896 107,791
199,678 187,287
Prepayments and accrued income - -
Creditors: amounts falling due within one year (166,753) (141,957)
Net current assets (liabilities) 32,925 45,330
Total assets less current liabilities 643,830 681,037
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) 643,830 681,037
Capital and reserves
Called up share capital 4 727,000 727,000
Share premium account 0 0
Revaluation reserve 0 0
Other reserves 0 0
Profit and loss account (83,170) (45,963)
Shareholders' funds 643,830 681,037
  • For the year ending 31 May 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 17 September 2014

And signed on their behalf by:
H.S.Grewal, Director

GREWALZ LIMITED Registered Number 02152634

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Intangible fixed assets
£
Cost
At 1 June 2013 682,000
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 May 2014 682,000
Amortisation
At 1 June 2013 68,200
Charge for the year 34,100
On disposals 0
At 31 May 2014 102,300
Net book values
At 31 May 2014 579,700
At 31 May 2013 613,800
3Tangible fixed assets
£
Cost
At 1 June 2013 36,580
Additions 19,700
Disposals 0
Revaluations 0
Transfers 0
At 31 May 2014 56,280
Depreciation
At 1 June 2013 14,673
Charge for the year 10,402
On disposals 0
At 31 May 2014 25,075
Net book values
At 31 May 2014 31,205
At 31 May 2013 21,907
4Called Up Share Capital
Allotted, called up and fully paid:
2014
£		 2013
£
727,000 Ordinary shares of £1 each 727,000 727,000