Grapevine Corporate Limited Small abbreviated accounts
Grapevine Corporate Limited Small abbreviated accounts
COMPANY REGISTRATION NUMBER
03034679
FOR THE YEAR ENDED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
GRAPEVINE CORPORATE LIMITED
YEAR ENDED 31 MAY 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Grapevine Corporate Limited for the year ended 31 May 2016 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the director of Grapevine Corporate Limited in accordance with the terms of our engagement letter dated 29 February 2016. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of Grapevine Corporate Limited and state those matters that we have agreed to state to him in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grapevine Corporate Limited and its director for our work or for this report.
It is your duty to ensure that Grapevine Corporate Limited has kept adequate accounting records and to prepare statutory abbreviated accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grapevine Corporate Limited. You consider that Grapevine Corporate Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the abbreviated accounts of Grapevine Corporate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abbreviated accounts.
ABBREVIATED BALANCE SHEET
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2016 |
2015 |
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|
Note |
£ |
£ |
£ |
£ |
|
|
FIXED ASSETS |
2 |
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Tangible assets |
|
|
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CURRENT ASSETS
|
Debtors |
|
|
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Cash at bank and in hand |
|
- |
|||
|
---------- |
---------- |
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|
208,233 |
182,710 |
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CREDITORS: Amounts falling due within one year |
3 |
|
|
||
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---------- |
---------- |
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NET CURRENT ASSETS |
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|
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-------- |
-------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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|
|||
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CREDITORS: Amounts falling due after more than one year |
4 |
|
|
||
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PROVISIONS FOR LIABILITIES |
|
- |
||
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-------- |
-------- |
|||
|
|
|
|||
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-------- |
-------- |
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CAPITAL AND RESERVES
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Called up equity share capital |
6 |
|
|
||
|
Profit and loss account |
|
|
|||
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-------- |
-------- |
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SHAREHOLDERS' FUNDS |
|
|
|||
|
-------- |
-------- |
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Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts were approved and signed by the director and authorised for issue on
23 September 2016
.
Company Registration Number:
03034679
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MAY 2016
1.
ACCOUNTING POLICIES
Basis of accounting
Turnover
Fixed assets
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and law.
2.
FIXED ASSETS
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Tangible Assets |
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|
£ |
|
COST
|
At 1 June 2015 |
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|
Additions |
|
|
Disposals |
(
|
|
-------- |
|
|
At 31 May 2016 |
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|
-------- |
|
DEPRECIATION
|
At 1 June 2015 |
|
|
Charge for year |
|
|
On disposals |
(
|
|
-------- |
|
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At 31 May 2016 |
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|
-------- |
|
NET BOOK VALUE
|
At 31 May 2016 |
|
|
-------- |
|
|
At 31 May 2015 |
|
|
-------- |
|
3.
CREDITORS:
Amounts falling due within one year
The following liabilities disclosed under creditors falling due within one year are secured by the company:
|
2016 |
2015 |
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|
£ |
£ |
||
|
Secured debt < 1 Yr: Hire purchase |
7,340 |
2,790 |
|
|
------- |
------- |
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4.
CREDITORS:
Amounts falling due after more than one year
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
|
2016 |
2015 |
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|
£ |
£ |
||
|
Secured debt >1 Yr: Hire purchase |
13,457 |
11,155 |
|
|
-------- |
-------- |
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5.
TRANSACTIONS WITH THE DIRECTOR
6.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2016 |
2015 |
||||
|
No |
£ |
No |
£ |
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---- |
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