Stansfield International Limited - Period Ending 2015-12-31

Registration number: 06143630

Stansfield International Limited

trading as GrassGreener

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

Stansfield International Limited
trading as GrassGreener
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Stansfield International Limited
trading as GrassGreener
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stansfield International Limited for the year ended 31 December 2015 set out on pages 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/membershandbook.

This report is made solely to the Board of Directors of Stansfield International Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Stansfield International Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stansfield International Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stansfield International Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Stansfield International Limited. You consider that Stansfield International 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 accounts of Stansfield International 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 accounts.

......................................

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

23 September 2016

Page 1

Stansfield International Limited
trading as GrassGreener
(Registration number: 06143630)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					4,494			14,286
Tangible fixed assets					6,717			8,764
Investments					100			30,000
					11,311			53,050
Current assets
Stocks					60,551			87,900
Debtors					140,885			126,407
Cash at bank and in hand					131			-
					201,567			214,307
Creditors: Amounts falling due within one year					(110,486)			(111,756)
Net current assets					91,081			102,551
Total assets less current liabilities					102,392			155,601
Creditors: Amounts falling due after more than one year					-			(8,331)
Net assets					102,392			147,270
Capital and reserves
Called up share capital		3			72,000			72,000
Revaluation reserve					-			29,900
Profit and loss account					30,392			45,370
Shareholders' funds					102,392			147,270

For the year ending 31 December 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 23 September 2016

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Stansfield International Limited
trading as GrassGreener
(Registration number: 06143630)
Abbreviated Balance Sheet at 31 December 2015
......... continued

.........................................
Mr Paul Leonard Hickey
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Stansfield International Limited
trading as GrassGreener
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost of valuation, less any estimated residual value, over their expected useful economic lives as follows:

Asset class	Amortisation method and rate
Trademarks	Straight line over 5 years
Development costs	Straight line over 5 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any estimated residual value, over their expected useful economic lives as follows:

Asset class	Depreciation method and rate
Leasehold property	Straight line over 10 years
Office equipment	Straight line over 10 years
Fixtures and fittings	Straight line over 5 years

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Fixed asset investments

Fixed asset investments are stated at market value less provision for permanent diminution in value.

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 4

Stansfield International Limited
trading as GrassGreener
Notes to the Abbreviated Accounts for the Year Ended 31 December 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

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 January 2015		66,802			59,891			30,000			156,693
Revaluations		-			-			(29,900)			(29,900)
Additions		-			2,806			-			2,806
At 31 December 2015		66,802			62,697			100			129,599
Depreciation
At 1 January 2015		52,516			51,127			-			103,643
Charge for the year		9,792			4,853			-			14,645
At 31 December 2015		62,308			55,980			-			118,288
Net book value
At 31 December 2015		4,494			6,717			100			11,311
At 31 December 2014		14,286			8,764			30,000			53,050

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		72,000			72,000			72,000			72,000

Page 5

Stansfield International Limited
trading as GrassGreener
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Paul Leonard Hickey
The director has received an interest free loan from the company.	51,338	51,338	43,706	-

Page 6