Grange Marketing (UK) Ltd
Grange Marketing (UK) Ltd
Registered number: 04110261
Unaudited Financial Statements
For the Period 1 March 2016 to 31 December 2016
EH Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Grange Marketing (UK) Ltd
Unaudited Financial Statements
For the Period 1 March 2016 to 31 December 2016
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—9 |
Grange Marketing (UK) Ltd
Balance Sheet
As at
31 December 2016
Balance Sheet
Registered number:
04110261
For the period ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| Period to 31 December 2016 | 29 February 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Other reserves |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 190,031 | 115,304 | |||
Page 1
Grange Marketing (UK) Ltd
Balance Sheet (continued)
As at
31 December 2016
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 4 to 9 form part of these financial statements.
Page 2
Grange Marketing (UK) Ltd
Statement of Changes in Equity
For the Period 1 March 2016 to 31 December 2016
Statement of Changes in Equity
| Share Capital | Other reserves | Profit & Loss Account | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 1 March 2015 |
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114,310 |
| Profit for the year and total comprehensive income | - | - |
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994 |
| As at 29 February 2016 and 1 March 2016 |
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115,304 |
| Profit for the period and total comprehensive income | - | - |
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74,727 |
| Transfer to/from Other Reserves | - | - | (40,000) | (40,000) |
| Transfer to/from Profit & Loss Account | - |
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- | 40,000 |
| As at |
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190,031 |
Page 3
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts
For the Period 1 March 2016 to 31 December 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Investment properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
1.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.6.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Deferred tax is provided on fair value adjustments to the investment property through the profit and loss account.
Page 4
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts (continued)
For the Period 1 March 2016 to 31 December 2016
1.7.
Changes in Accounting Policies
The transition to FRS 102A section 1A small entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes are explained in note 15.
1.8.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Interest Payable
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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Page 5
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts (continued)
For the Period 1 March 2016 to 31 December 2016
5.
Tangible Assets
| Investment Property | Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
| As at |
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| Additions | - |
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| Revaluation | 50,000 | - | - |
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| Depreciation | ||||
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| Provided during the period | - |
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| Net Book Value | ||||
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The investment property was revalued by the director on 31 December 2016. The director is not aware of any material change in value since the date of the valuation.
The historical cost of the investment property was £395,302.
6.
Stocks
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Stock - finished goods |
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Page 6
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts (continued)
For the Period 1 March 2016 to 31 December 2016
7.
Debtors
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Amounts owed by group undertakings |
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8.
Creditors: Amounts Falling Due Within One Year
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security | - |
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| VAT |
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| Rental deposit held | - | 8,125 | |
| Mrs. M.A. Rogers Loan |
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| Accruals and deferred income |
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| Sundry creditors |
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| Amounts owed to group undertakings |
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Page 7
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts (continued)
For the Period 1 March 2016 to 31 December 2016
9.
Creditors: Amounts Falling Due After More Than One Year
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Bank loans |
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The bank borrowings are secured by a debenture held by the the bank over Grange Marketing (UK) Limited, and by a 1st legal charge held by the bank over Unit 5 Honywood Business Park, Honywood Road, Basildon, Essex.
Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
| Period to 31 December 2016 | 29 February 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 155,234 | - |
10.
Deferred Taxation
| Period to 31 December 2016 | 29 February 2016 | ||
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| £ | £ | ||
| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances (£3,650) and on the fair value adjustment (£10,000).
Page 8
Grange Marketing (UK) Ltd
Notes to the Unaudited Accounts (continued)
For the Period 1 March 2016 to 31 December 2016
12.
Related Party Transactions
Revpie Limited
Revpie Limited owns shares in the company carrying 75% of the voting rights
The only transactions with Revpie Limited during the period were a management charge made by the company to Revpie Limited of £ (year ended 29 February 2016 : £25,190), and rent payable to Revpie Limited of £3,000 (year ended 29 February 2016 : £15,600. There was a creditor due to Revpie Limited at the period end of £nil (29 February 2016 : £4,320) (included in trade creditors in note 8) for rent payable.There is also a cross guarantee from the bank with Revpie Limited securing the bank borrowings of the company.
13.
Ultimate Controlling Party
The company's ultimate controlling party is Revpie Limited by virtue of its ownership of 75% of the issued share capital in the company.
14.
Reserves
Profit and loss reserve
This shows the retained distributable profits of the company.
Fair value reserve
This contains the fair value adjustment net of deferred tax.
15.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st March 2015.
No transitional adjustments were required in equity or profit or loss for the year.
The transition to FRS 102A section 1A small entities has resulted in a small number of changes in accounting policies as detailed below:
Deferred tax
Deferred tax has been recognised on fair value remeasurements on financial and non-financial assets.
Investment properties
Under FRS 102, changes in the fair value of investment properties are recorded in the profit and loss account. Under previous UK GAAP these changes were recorded in the Statement of Total Recognised Gains and Losses.
16.
General Information
Grange Marketing (UK) Ltd Registered number 04110261 is a limited by shares company incorporated in England & Wales. The Registered Office is 203 London Road, Hadleigh, Benfleet, Essex SS7 2RD.
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