Will Graves Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06279518 (England and Wales)

WILL GRAVES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

M W Graves

Mrs J M Graves

SECRETARY:

Mrs J M Graves

REGISTERED OFFICE:

196 High Street

Arlesey

Bedfordshire

SG15 6TB

REGISTERED NUMBER:

06279518 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

15 Chequergate

Louth

Lincolnshire

LN11 0LJ

FIXED ASSETS

Intangible assets

2

300

600

Tangible assets

3

5,350

3,605

5,650

4,205

CURRENT ASSETS

Debtors

17,311

10,149

Cash at bank

7,254

4,615

24,565

14,764

CREDITORS

Amounts falling due within one year

11,496

9,513

NET CURRENT ASSETS

13,069

5,251

TOTAL ASSETS LESS CURRENT LIABILITIES

18,719

9,456

PROVISIONS FOR LIABILITIES

1,070

721

NET ASSETS

17,649

8,735

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

17,648

8,734

SHAREHOLDERS' FUNDS

17,649

8,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 19 January 2017 and were signed on its behalf by:

M W Graves - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

3,000

AMORTISATION

At 1 July 2015

2,400

Amortisation for year

300

At 30 June 2016

2,700

NET BOOK VALUE

At 30 June 2016

300

At 30 June 2015

600

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

9,848

Additions

3,130

At 30 June 2016

12,978

DEPRECIATION

At 1 July 2015

6,243

Charge for year

1,385

At 30 June 2016

7,628

NET BOOK VALUE

At 30 June 2016

5,350

At 30 June 2015

3,605

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and

30 June 2015:

2016

2015

£

£

M W Graves

Balance outstanding at start of year

6,550

14,796

Amounts advanced

42,454

45,079

Amounts repaid

(35,894

)

(53,325

)

Balance outstanding at end of year

13,110

6,550

6.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Will Graves Limited for the year ended 30 June 2016 which comprise the Profit and Loss

Account, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Will Graves Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Will Graves Limited and state those matters that we have agreed to state to the Board of Directors of Will Graves Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Will Graves Limited Board of Directors, as a body, for our work or for this report.

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

Duncan & Toplis Limited

15 Chequergate

Louth

Lincolnshire

LN11 0LJ

Date: .............................................