Grover Butchers Limited - Period Ending 2015-09-30

Registration number: 07762903

Grover Butchers Limited

Unaudited Abbreviated Accounts

for the Period from 1 January 2015 to 30 September 2015

 

Ledger Accounting Services Limited
12 West Links
Tollgate
Chandlers Ford
Eastleigh
Hampshire
SO53 3TG

Grover Butchers Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Grover Butchers Limited
(Registration number: 07762903)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015 £			31 December 2014 £
Fixed assets
Tangible fixed assets					37,114			42,599
Current assets
Stocks					6,918			6,500
Debtors					36,658			23,105
Cash at bank and in hand					31,824			64,309
					75,400			93,914
Creditors: Amounts falling due within one year					(85,544)			(100,621)
Net current liabilities					(10,144)			(6,707)
Total assets less current liabilities					26,970			35,892
Creditors: Amounts falling due after more than one year					(7,687)			(16,040)
Provisions for liabilities					(6,015)			(6,952)
Net assets					13,268			12,900
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					13,168			12,800
Shareholders' funds					13,268			12,900

For the year ending 30 September 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 director acknowledges his 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 director on 7 June 2016

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Grover Butchers Limited
(Registration number: 07762903)
Abbreviated Balance Sheet at 30 September 2015
......... continued

.........................................
Mr Andrew Grover
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Grover Butchers Limited
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 30 September 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 January 2015).

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
Leasehold property	10% on cost
Plant and machinery	25% on cost
Computer equipment	25% on cost

Stock

Stock 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.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Grover Butchers Limited
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 30 September 2015
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		57,124			57,124
Additions		5,465			5,465
At 30 September 2015		62,589			62,589
Depreciation
At 1 January 2015		14,525			14,525
Charge for the period		10,950			10,950
At 30 September 2015		25,475			25,475
Net book value
At 30 September 2015		37,114			37,114
At 31 December 2014		42,599			42,599

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		30 September 2015 £			31 December 2014 £
Amounts falling due within one year		5,000			7,500
Amounts falling due after more than one year		-			3,125
Total secured creditors		5,000			10,625

Page 4

Grover Butchers Limited
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 30 September 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	30 September 2015						31 December 2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

5

Control

The company is controlled by Grover Holdings Limited .

Page 5