Grovestead Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01487886 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 May 2015 to 31 December 2015

for

GROVESTEAD LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

Directors:

Ms J A Couzens

Mrs L M Forouzesh

L Couzens

Secretary:

Ms C Davis

Registered office:

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Registered number:

01487886 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

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 three to six)

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 Grovestead Limited for the period ended 31 December 2015 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 Grovestead Limited, as a body, in accordance with the terms of our engagement letter dated 30 October 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Grovestead Limited and state those matters that we have agreed to state to the Board of Directors of Grovestead 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 Grovestead Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grovestead 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 Grovestead Limited. You consider that Grovestead Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Grovestead 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.

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

15 February 2017

Fixed assets

Intangible assets

2

-

Tangible assets

3

50,654

54,720

50,654

54,720

Current assets

Debtors

4,500

17,608

Cash at bank

46,073

25,567

50,573

43,175

Creditors

Amounts falling due within one year

33,926

27,425

Net current assets

16,647

15,750

Total assets less current liabilities

67,301

70,470

Provisions for liabilities

(5,595

)

(4,958

)

Accruals and deferred income

(4,438

)

(13,196

)

Net assets

57,268

52,316

Capital and reserves

Called up share capital

4

600

Profit and loss account

56,668

51,716

Shareholders' funds

57,268

52,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 February 2017 and were signed on its behalf
by:

Ms J A Couzens - 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

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Tangible fixed assets

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

Freehold property

-

Straight line over 2 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	Intangible fixed assets

Total

£

Cost

At 1 May 2015

and 31 December 2015

2,500

Amortisation

At 1 May 2015

and 31 December 2015

2,500

Net book value

At 31 December 2015

-

At 30 April 2015

-

3.	Tangible fixed assets

Total

£

Cost

At 1 May 2015

and 31 December 2015

192,939

Depreciation

At 1 May 2015

138,219

Charge for period

4,066

At 31 December 2015

142,285

Net book value

At 31 December 2015

50,654

At 30 April 2015

54,720

4.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

30.4.15

value:

£

100

Ordinary A

£1

100

500

Ordinary B

£1

500

600

5.	Ultimate parent company

Grovestead Holdings Limited is regarded by the directors as being the company's ultimate parent company.