Abbreviated Company Accounts - GRANDDIRECT LIMITED

GRANDDIRECT LIMITED - Company Information

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Registered Number 03393231

GRANDDIRECT LIMITED

Abbreviated Accounts

31 October 2015

GRANDDIRECT LIMITED Registered Number 03393231

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	77,899	80,543
		77,899	80,543
Current assets
Debtors		15,593	21,743
Cash at bank and in hand		2,898	4,562
		18,491	26,305
Creditors: amounts falling due within one year		(89,301)	(88,781)
Net current assets (liabilities)		(70,810)	(62,476)
Total assets less current liabilities		7,089	18,067
Creditors: amounts falling due after more than one year		(22,118)	(22,302)
Total net assets (liabilities)		(15,029)	(4,235)
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		(16,029)	(5,235)
Shareholders' funds		(15,029)	(4,235)

For the year ending 31 October 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 29 July 2016

And signed on their behalf by:
John Danher, Director

GRANDDIRECT LIMITED Registered Number 03393231

Notes to the Abbreviated Accounts for the period ended 31 October 2015

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 April 2008.

Turnover policy
Turnover represents the total invoice value, including value added tax, of sales made during the year and derives from the provision of goods falling within the company’s ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Land and buildings – Straight line over the expected useful life
Plant and machinery - 15% Reducing Balance

Other accounting policies
Going concern
The company liabilities exceeded its assets at the year end. The company is only able to continue trading with the support of its director who has provided assurance of this support for the foreseeable future.

2Tangible fixed assets

	£
Cost
At 1 November 2014	118,395
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	118,395
Depreciation
At 1 November 2014	37,852
Charge for the year	2,644
On disposals	-
At 31 October 2015	40,496
Net book values
At 31 October 2015	77,899
At 31 October 2014	80,543

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000

4Transactions with directors

Name of director receiving advance or credit:	John Danher
Description of the transaction:	Director's Loan Accont
Balance at 1 November 2014:	£ 12,969
Advances or credits made:	£ 6,319
Advances or credits repaid:	£ 12,969
Balance at 31 October 2015:	£ 6,319

Name of director receiving advance or credit:	Gillian Danher
Description of the transaction:	Director's Loan Accont
Balance at 1 November 2014:	£ 1,000
Advances or credits made:	-
Advances or credits repaid:	-
Balance at 31 October 2015:	£ 1,000

The directors received interest free advances during the year.