Grandstands Worldwide Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05770931 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

FOR

GRANDSTANDS WORLDWIDE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D A H Howell

SECRETARY:

D A H Howell

REGISTERED OFFICE:

16 Copse Wood Way

Northwood

Middlesex

HA6 2UE

REGISTERED NUMBER:

05770931 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Business Advisers and Accountants

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

2

12,267

37,974

CURRENT ASSETS

Debtors

58,265

71,316

Prepayments and accrued income

1,682

1,882

Cash at bank

144,437

106,736

204,384

179,934

CREDITORS

Amounts falling due within one year

16,735

45,991

NET CURRENT ASSETS

187,649

133,943

TOTAL ASSETS LESS CURRENT LIABILITIES

199,916

171,917

CREDITORS

Amounts falling due after more than one year

(697,332

)

(682,145

)

ACCRUALS AND DEFERRED INCOME

-

(20,091

)

NET LIABILITIES

(497,416

)

(530,319

)

CAPITAL AND RESERVES

Called up share capital

3

1,150

1,150

Share premium

398,850

398,850

Profit and loss account

(897,416

)

(930,319

)

SHAREHOLDERS' FUNDS

(497,416

)

(530,319

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30 January 2017 and were signed by:

D A H Howell - Director

1.	ACCOUNTING POLICIES

Going concern

The company's balance sheet shows a net deficit shareholders fund position. However, the director has received

the confirmation from the shareholders of their continued financial support for the foreseeable future and for at

least twelve months from the date of signature of these accounts.

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

-

25% on cost

Fixtures and fittings

-

25% on reducing balance

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

2.	TANGIBLE FIXED ASSETS

Total

£

Cost

At 1 May 2015

606,658

Additions

322

At 30 April 2016

606,980

Depreciation

At 1 May 2015

568,684

Charge for year

26,029

At 30 April 2016

594,713

Net book value

At 30 April 2016

12,267

At 30 April 2015

37,974

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

£

750

Ordinary Shares

£1

750

750

400

Redeemable Preference Shares

£1

400

400

1,150

1,150

4.	CONTROLLING PARTY

The controlling party is D A H Howell.