Grosvenor Murcott Limited - Accounts to registrar (filleted) - small 17.3

GROSVENOR MURCOTT LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A F Murcott

D V Murcott

P W Murcott

SECRETARY:

P J Murcott

REGISTERED OFFICE:

Borman

Apollo

Tamworth

Staffordhire

B79 7TA

REGISTERED NUMBER:

00510616 (England and Wales)

ACCOUNTANTS:

Haslehursts Limited

88 Hill Village Road

Sutton Coldfield

West Midlands

B75 5BE

FIXED ASSETS

Tangible assets

5

1,218,000

1,240,800

CURRENT ASSETS

Cash at bank

66,351

55,971

CREDITORS

Amounts falling due within one year

6

(62,164

)

(37,040

)

NET CURRENT ASSETS

4,187

18,931

TOTAL ASSETS LESS CURRENT LIABILITIES

1,222,187

1,259,731

PROVISIONS FOR LIABILITIES

(130,390

)

(130,390

)

NET ASSETS

1,091,797

1,129,341

CAPITAL AND RESERVES

Called up share capital

7

35,000

35,000

Revaluation reserve

8

325,994

339,033

Retained earnings

730,803

755,308

SHAREHOLDERS' FUNDS

1,091,797

1,129,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 December 2017 and were signed on its behalf by:

D V Murcott - Director

1.	STATUTORY INFORMATION

Grosvenor Murcott Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities.

In preparing the accounts the directors have considered whether in applying the accounting policies

required by FRS 102 Section 1A the restatement of comparatives was required. The nature of these

changes and their impact on opening reserves and profit for the comparative period are explained in

the notes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% cost on buildings only

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2016

and 31 March 2017

1,894,288

DEPRECIATION

At 1 April 2016

653,488

Charge for year

22,800

At 31 March 2017

676,288

NET BOOK VALUE

At 31 March 2017

1,218,000

At 31 March 2016

1,240,800

Land with a value of £420,000, which is included in the land and buildings figure above, is not

depreciated.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

20,312

20,183

VAT

6,918

6,511

Other creditors

33,859

9,271

Accrued expenses

1,075

1,075

62,164

37,040

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

35,000

Ordinary

£1

35,000

35,000

8.

RESERVES

Revaluation

reserve

£

At 1 April 2016

339,033

Movmt of revaluation reserve

(13,039

)

At 31 March 2017

325,994

9.	RELATED PARTY DISCLOSURES

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting

Standard 102 Section 1A (FRS 102 1A). The last financial statements under UK GAAP were for the

year ended 31 March 2016. The date of transition to FRS 102 1A was 1 April 2015.

Adopting FRS 102 1A has meant that the accounting policy has changed to comply with the new

standard as follows:

Deferred taxation on revaluation of land and buildings - Under previous UK GAAP deferred taxation on

land and buildings was not recognised. Under FRS 102 1A deferred taxation on land and buildings is

recognised. A deferred taxation charge of £130,390 arose on the transition to FRS 102 1A.