Grangetown Premier Store Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05938867 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

GRANGETOWN PREMIER STORE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr Joga Singh Dulai

Mr Davinder Pal Singh Dulai

REGISTERED OFFICE:

16 - 17

Windsor Terrace

Grangetown

Sunderland

Tyne and Wear

SR2 9QF

REGISTERED NUMBER:

05938867 (England and Wales)

ACCOUNTANTS:

Ark Aurora Ltd

(incorporating Gompertz Kendall & Co)

Chartered Accountants & Chartered Tax Advisers

The Maltings

2 Anderson Rd

Bearwood

Birmingham

West Midlands

B66 4AR

FIXED ASSETS

Intangible assets

2

18,000

Tangible assets

3

27,946

12,641

45,946

30,641

CURRENT ASSETS

Stocks

142,700

141,750

Debtors

67

18

Cash in hand

3,925

1,896

146,692

143,664

CREDITORS

Amounts falling due within one year

94,504

91,272

NET CURRENT ASSETS

52,188

52,392

TOTAL ASSETS LESS CURRENT
LIABILITIES

98,134

83,033

CREDITORS

Amounts falling due after more than one
year

13,175

-

NET ASSETS

84,959

83,033

CAPITAL AND RESERVES

Called up share capital

4

8

Profit and loss account

84,951

83,025

SHAREHOLDERS' FUNDS

84,959

83,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 August 2016 and were signed on its behalf by:

Mr Davinder Pal Singh Dulai - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

18,000

NET BOOK VALUE

At 30 November 2015

18,000

At 30 November 2014

18,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

32,955

Additions

21,542

At 30 November 2015

54,497

DEPRECIATION

At 1 December 2014

20,314

Charge for year

6,237

At 30 November 2015

26,551

NET BOOK VALUE

At 30 November 2015

27,946

At 30 November 2014

12,641

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

8

Ordinary

£1

8