Grafton Bespoke Limited - Period Ending 2017-03-31

Registration number: 08456955

Grafton Bespoke Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

Grafton Bespoke Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Grafton Bespoke Limited

Company Information

Directors

M Eccles S N Nurney

Registered office

10 Norwich Street London EC4A 1BD

Accountants

Sobell Rhodes LLP Chartered Accountants Ground Floor Unit 501 Centennial Park Centennial Avenue Elstree, Borehamwood Hertfordshire WD6 3FG

Page 1

Grafton Bespoke Limited

(Registration number: 08456955)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	2,780	3,706
Current assets
Debtors	4	210,601	132,024
Cash at bank and in hand		154,245	88,441
		364,846	220,465
Creditors: Amounts falling due within one year	5	(278,975)	(50,042)
Net current assets		85,871	170,423
Net assets		88,651	174,129
Capital and reserves
Called up share capital		5	5
Share premium reserve		4,995	4,995
Profit and loss account		83,651	169,129
Total equity		88,651	174,129

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Grafton Bespoke Limited

(Registration number: 08456955)
Balance Sheet as at 31 March 2017

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 November 2017 and signed on its behalf by:
 

M Eccles

Director

S N Nurney

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Grafton Bespoke Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
10 Norwich Street
London
EC4A 1BD

These financial statements were authorised for issue by the Board on 9 November 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furtnitures, fittings and equipment	25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 4

Grafton Bespoke Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 5

Grafton Bespoke Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2016	7,227	7,227
At 31 March 2017	7,227	7,227
Depreciation
At 1 April 2016	3,521	3,521
Charge for the year	926	926
At 31 March 2017	4,447	4,447
Carrying amount
At 31 March 2017	2,780	2,780
At 31 March 2016	3,706	3,706

4

Debtors

	2017 £	2016 £
Trade debtors	60,726	40,800
Other debtors	149,875	91,224
Total current trade and other debtors	210,601	132,024

5

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		1,352	-
Amounts owed to related parties		101,365	6,862
Taxation and social security		-	554
Other creditors		176,258	39,846
Corporation tax liability		-	2,780
		278,975	50,042

Page 6

Grafton Bespoke Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6	Parent and ultimate parent undertaking

The company's immediate parent is Grafton & Co Limited, incorporated in England and Wales.

 

7	Transition to FRS 102

This is the first year that the Company has presented its results under FRS 102. The last financial statements prepared under the previous UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102 was 1 April 2015. There are no changes to profit for the financial year ended 31 March 2016 and the total equity as at 1 April 2015 and 31 March 2016 on transition to FRS102 from UK GAAP as previously reported.

Page 7