Accounts filed on 31-03-2014

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			Company registration number:04685395
			GROOVY LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 March 2014

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GROOVY LIMITED
BALANCE SHEET
AS AT 31 March 2014
			2014				2013
		Notes	£		£		£		£
FIXED ASSETS
Investments					102,820				100,820
Tangible assets		2			78				221
					102,898				101,041
CURRENT ASSETS
Debtors			163,300				182,214
Cash at bank and in hand			4,546				8,304
			167,846				190,518
CREDITORS
Amounts falling due within one year			(283,286)				(298,227)
NET CURRENT ASSETS					(115,440)				(107,709)
TOTAL ASSETS LESS
CURRENT LIABILITIES					(12,542)				(6,668)
NET ASSETS					(12,542)				(6,668)
CAPITAL AND RESERVES
Called-up equity share capital		4			5				5
Revaluation Reserve					7,659				7,659
Profit and loss account					(20,206)				(14,332)
SHAREHOLDERS FUNDS					(12,542)				(6,668)
For the year ending 31 March 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 the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 29 September 2014 and signed on its behalf.
..........................................................................
Ivan Hodges
29 September 2014
The annexed notes form part of these financial statements.

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GROOVY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention.

Statement of cashflow

The company has taken advantage of the exemption provided by Financial Reporting Standard 1 and has not prepared a cash flow statement for the period.

Turnover

Turnover represents the net invoiced sales of software consultancy, design and development.

Fixed assets

Depreciation is calculated using the straight line method on the gross values of fixed assets without any deduction for government grants. The following rates are used:

Plant33%

Fixtures10%

Deferred taxation

Deferred Taxation is provided using the liability method in respect of the taxation effect of all timing differences to the extent that tax liabilities are likely to crystallise in the foreseeable future.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			14,729
	At end of period			14,729
	Depreciation
	At start of period			14,508
	Provided during the period			141
	At end of period			14,649
	Net Book Value
	At start of period			221
	At end of period			78

3.	Debtors
	Debtors include £69,270 (2013 £69,270) In respect of amounts due after more than one year.

4.	Share capital				Allotted, issued and fully paid
					2014	2013
					£	£
	Issued and Fully Paid				5	5
	Total issued share capital				5	5
5.	Transactions with directors
	The company operates a loan account with its directors, which is interest free, with no determined repayment date. The balance outstanding as at the 31 March 2014 was £29,800.(2013:£39,615.)