Gracis Consulting Limited - Abbreviated accounts 16.3

Gracis Consulting Limited - Abbreviated accounts 16.3

GRACIS CONSULTING LIMITED - Company Information

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REGISTERED NUMBER: 06436589 (England and Wales)















ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

GRACIS CONSULTING LIMITED

GRACIS CONSULTING LIMITED (REGISTERED NUMBER: 06436589)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

GRACIS CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2016







DIRECTORS: Mrs L McManus
Mr D Brennan





REGISTERED OFFICE: Reynard Crag Farm
Reynard Crag Lane
Birstwith
North Yorkshire
HG3 2JQ





REGISTERED NUMBER: 06436589 (England and Wales)





ACCOUNTANTS: Lowson Ward
Chartered Accountants
292 Wake Green Road
Birmingham
B13 9QP
Page 1
GRACIS CONSULTING LIMITED (REGISTERED NUMBER: 06436589)

ABBREVIATED BALANCE SHEET
31 OCTOBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 2,978 269
Investment property 3 281,287 -
284,265 269

CURRENT ASSETS
Debtors 2,574 9,063
Cash at bank 258,608 59,776
261,182 68,839
CREDITORS
Amounts falling due within one year 458,010 17,770
NET CURRENT (LIABILITIES)/ASSETS (196,828 ) 51,069
TOTAL ASSETS LESS CURRENT LIABILITIES 87,437 51,338

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 87,337 51,238
SHAREHOLDERS' FUNDS 87,437 51,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 notes on pages 4 to 5 form part of these abbreviated accounts

Page 2
GRACIS CONSULTING LIMITED (REGISTERED NUMBER: 06436589)

ABBREVIATED BALANCE SHEET - continued
31 OCTOBER 2016


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 July 2017 and were signed on its
behalf by:





Mrs L McManus - Director


The notes on pages 4 to 5 form part of these abbreviated accounts

Page 3
GRACIS CONSULTING LIMITED (REGISTERED NUMBER: 06436589)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016


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 services, excluding value added tax, except in respect of
service contracts where turnover is recognised when the company obtains the right to consideration.

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 - 40% p.a. reducing balance
Equipment - 40% p.a. reducing balance

All fixed assets are initially recorded at cost.

Investment property
All investment properties are recorded at cost.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a
similar debt instrument, those financial instruments are classed as financial liabilities. Financial
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to
financial liabilities are included in the profit and loss account. Finance costs are calculated so as to
produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a
financial liability then this is classed as an equity instrument. Dividends and distributions relating to
equity instruments are debited direct to equity.

Page 4
GRACIS CONSULTING LIMITED (REGISTERED NUMBER: 06436589)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2016


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2015 450
Additions 4,696
At 31 October 2016 5,146
DEPRECIATION
At 1 November 2015 181
Charge for year 1,987
At 31 October 2016 2,168
NET BOOK VALUE
At 31 October 2016 2,978
At 31 October 2015 269

3. INVESTMENT PROPERTY
Total
£   
COST
Additions 281,287
At 31 October 2016 281,287
NET BOOK VALUE
At 31 October 2016 281,287

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

Page 5