Cavendish Grey Ltd - Limited company accounts 16.3

REGISTERED NUMBER: 07821112 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 October 2016

for

Cavendish Grey Ltd

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Energie Direct Operations Limited

S Hayes

SECRETARY:

REGISTERED OFFICE:

5-7 Old Park Avenue

Enfield

London

EN2 6PJ

REGISTERED NUMBER:

07821112 (England and Wales)

ACCOUNTANTS:

M Chilton Accountancy Services Limited

16 Reed Mace Drive

Bromsgrove

Worcestershire

B61 0UJ

The directors present their report with the financial statements of the company for the year ended 31 October 2016.

These accounts replace the original accounts that have already been filed.

They are now the statutory accounts and have been prepared as they were at the date of the original accounts.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of provision of a fitness club.

DIRECTOR

Mrs A Devani held office from 1 November 2015 until after 31 October 2016 but prior to the date of this report.

Energie Direct Operations Limited and S Hayes were appointed as directors after 31 October 2016 but prior to the date
of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs A Devani - Director

31 July 2017

TURNOVER

258,915

311,113

Cost of sales

35,472

43,068

GROSS PROFIT

223,443

268,045

Administrative expenses

229,141

288,036

(5,698

)

(19,991

)

Other operating income

288

249

OPERATING LOSS

2

(5,410

)

(19,742

)

Interest payable and similar charges

5,752

6,418

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

(11,162

)

(26,160

)

Tax on loss on ordinary activities

3

-

LOSS FOR THE FINANCIAL YEAR

(11,162

)

(26,160

)

FIXED ASSETS

Intangible assets

4

31,819

33,789

Tangible assets

5

98,185

113,626

130,004

147,415

CURRENT ASSETS

Debtors

6

40,440

6,252

Cash at bank and in hand

10,340

15,118

50,780

21,370

CREDITORS

Amounts falling due within one year

7

47,948

21,483

NET CURRENT ASSETS/(LIABILITIES)

2,832

(113

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

132,836

147,302

CREDITORS

Amounts falling due after more than one
year

8

(195,432

)

(199,289

)

ACCRUALS AND DEFERRED INCOME

9

(5,093

)

(4,540

)

NET LIABILITIES

(67,689

)

(56,527

)

CAPITAL AND RESERVES

Called up share capital

10

2

Profit and loss account

11

(67,691

)

(56,529

)

SHAREHOLDERS' FUNDS

(67,689

)

(56,527

)

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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 31 July 2017 and were signed on its behalf by:

Mrs A Devani - 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.

Initial franchise fees

A franchise was purchased for £19,700 in 2011 and is being written off over it's useful life of 10 years.

A second franchise was purchased for £19,999 during the year and is not yet being amortised.

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 etc

-

15% on cost, 10% on cost and in accordance with the property

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.	OPERATING LOSS

The operating loss is stated after charging:

31.10.16

31.10.15

£

Depreciation - owned assets

16,941

16,863

Patents and licences amortisation

1,970

Directors' remuneration and other benefits etc

10,000

17,043

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 October 2016 nor for the

year ended 31 October 2015.

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2015

and 31 October 2016

39,699

AMORTISATION

At 1 November 2015

5,910

Charge for year

1,970

At 31 October 2016

7,880

NET BOOK VALUE

At 31 October 2016

31,819

At 31 October 2015

33,789

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2015

161,763

Additions

1,500

At 31 October 2016

163,263

DEPRECIATION

At 1 November 2015

48,137

Charge for year

16,941

At 31 October 2016

65,078

NET BOOK VALUE

At 31 October 2016

98,185

At 31 October 2015

113,626

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

Trade debtors

18,043

6,252

Other debtors

22,397

-

40,440

6,252

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

Bank loans and overdrafts

18,145

Payments on account

-

(3,986

)

Trade creditors

24,819

(2

)

Taxation and social security

5,018

5,906

Other creditors

(34

)

1,420

47,948

21,483

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.16

31.10.15

£

Bank loans

78,076

85,933

Other creditors

117,356

113,356

195,432

199,289

9.	ACCRUALS AND DEFERRED INCOME

31.10.16

31.10.15

£

Accruals and deferred income

5,093

4,540

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

2

Ordinary

1

2

11.

RESERVES

Profit

and loss

account

£

At 1 November 2015

(56,529

)

Deficit for the year

(11,162

)

At 31 October 2016

(67,691

)

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Other creditors falling due after one year relates to amounts owed to the directors.