Grangefrost Limited - Period Ending 2016-09-30

Registration number: 05597933

Grangefrost Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Grangefrost Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Grangefrost Limited
(Registration number: 05597933)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Investments					3,977,384			3,977,384
Current assets
Debtors					1,846			1,846
Cash at bank and in hand					1,280,372			17,243
					1,282,218			19,089
Creditors: Amounts falling due within one year					(2,873,989)			(1,544,865)
Net current liabilities					(1,591,771)			(1,525,776)
Total assets less current liabilities					2,385,613			2,451,608
Creditors: Amounts falling due after more than one year					(1,532,500)			(1,615,000)
Net assets					853,113			836,608
Capital and reserves
Called up share capital		4			50,000			50,000
Profit and loss account					803,113			786,608
Shareholders' funds					853,113			836,608

For the year ending 30 September 2016 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 directors acknowledge their 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 Board on 24 April 2017 and signed on its behalf by:

 R W Gregory
 Director

 C R W Busby
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Grangefrost Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... 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).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

These financial statements have been prepared on a going concern basis. The company is a parent company of a group of companies which are profit making. The directors consider the going concern basis to be appropriate based on the continuing mutual financial support of the companies within its group.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value. The investment in subsidiary holding amounts are reduced and charged to the subsidiary when such assets are sold and values realised.

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.

2	Fixed assets

		Investments £			Total £
Cost
At 1 October 2015		3,977,384			3,977,384
At 30 September 2016		3,977,384			3,977,384
Provision
At 30 September 2016		-			-
Net book value
At 30 September 2016		3,977,384			3,977,384
At 30 September 2015		3,977,384			3,977,384

Page 2

Grangefrost Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			1,104,625

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary "A" of £1 each		30,000			30,000			30,000			30,000
Ordinary "B" of £1 each		20,000			20,000			20,000			20,000
		50,000			50,000			50,000			50,000

Redeemable preference shares

The 500,000 5.5% cumulative redeemable preference shares of £1 each are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights.

The 950,000 nil rate deferred redeemable preference shares of £1 each are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights.

5

Control

The company is controlled by C R W Busby who owns 60% of the ordinary share capital.

Page 3