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

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

GROSVENOR MERCHANTS LIMITED - Company Information

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REGISTERED NUMBER: 05526960 (England and Wales)








Financial Statements

for the Year Ended 31 July 2017

for

Grosvenor Merchants Limited
Grosvenor Merchants Limited (Registered number: 05526960)






Contents of the Financial Statements
for the Year Ended 31 July 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grosvenor Merchants Limited

Company Information
for the Year Ended 31 July 2017







DIRECTOR: BA Richins





REGISTERED OFFICE: 19b Holder Road
Aldershot
Hampshire
GU12 4RH





REGISTERED NUMBER: 05526960 (England and Wales)





ACCOUNTANTS: Perrin & Co
James House
153 Grosvenor Road
Aldershot
Hampshire
GU11 3EF
Page 1
Grosvenor Merchants Limited (Registered number: 05526960)

Balance Sheet
31 July 2017

31.7.17 31.7.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,475 44,325
Tangible assets 5 268,310 274,414
302,785 318,739

CURRENT ASSETS
Stocks 51,180 43,103
Debtors 6 68,593 61,353
Cash at bank and in hand 35,228 26,040
155,001 130,496
CREDITORS
Amounts falling due within one year 7 132,092 115,804
NET CURRENT ASSETS 22,909 14,692
TOTAL ASSETS LESS CURRENT
LIABILITIES
325,694
333,431

CREDITORS
Amounts falling due after more than one year 8 (120,669 ) (138,887 )

PROVISIONS FOR LIABILITIES (3,662 ) (4,883 )
NET ASSETS 201,363 189,661

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 200,363 188,661
SHAREHOLDERS' FUNDS 201,363 189,661

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30 January 2018 and were signed by:





BA Richins - Director


The notes form part of these financial statements

Page 2
Grosvenor Merchants Limited (Registered number: 05526960)

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

1. STATUTORY INFORMATION

Grosvenor Merchants 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of
the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Page 3 continued...
Grosvenor Merchants Limited (Registered number: 05526960)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2016
and 31 July 2017 98,500
AMORTISATION
At 1 August 2016 54,175
Charge for year 9,850
At 31 July 2017 64,025
NET BOOK VALUE
At 31 July 2017 34,475
At 31 July 2016 44,325

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2016
and 31 July 2017 250,000 355 45,118
DEPRECIATION
At 1 August 2016 - 148 30,191
Charge for year - 52 3,732
At 31 July 2017 - 200 33,923
NET BOOK VALUE
At 31 July 2017 250,000 155 11,195
At 31 July 2016 250,000 207 14,927

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2016
and 31 July 2017 15,655 1,986 313,114
DEPRECIATION
At 1 August 2016 6,849 1,512 38,700
Charge for year 2,202 118 6,104
At 31 July 2017 9,051 1,630 44,804
NET BOOK VALUE
At 31 July 2017 6,604 356 268,310
At 31 July 2016 8,806 474 274,414

Page 4 continued...
Grosvenor Merchants Limited (Registered number: 05526960)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
£    £   
Trade debtors 68,593 60,795
Sundry debtors and prepayments - 558
68,593 61,353

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
£    £   
Bank loans and overdrafts 17,294 29,327
Trade creditors 74,091 56,942
Corporation tax 12,084 11,387
PAYE and National Insurance 746 766
VAT 3,212 1,289
Directors' loan accounts 18,665 545
Sundry creditors and accruals 6,000 15,548
132,092 115,804

Included in creditors are details of a loan owed by the company to its director in the sum of £18665 (2016: £545).
The loan is repayable upon demand. During the year under review it was not subject to interest.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.17 31.7.16
£    £   
Bank loans 120,669 138,887

9. RELATED PARTY DISCLOSURES

The director is the majority shareholder of a company called Toric Builders Limited. During the year sales of
£57,218 (2016 - £27,488) were made to that company and charges for rent and services were raised in the sum
of £17,132 (2016 - £19,849). Conversely, that business carried out works on behalf of the company in the year in
the sum of £7,317 (2016 - £20,340). The relevant overall net balance owed to the company by the business at the
year end was £18,329 (2016 - £3,153) which is to be settled post year end in the normal course of business.

During the year sales of £188 (£2016 - £297) were also made to BA Richins Painting & Decorating Limited a
company in which the director has a significant interest. At 31 July 2017 the company was owed £13 (2016 - £12)
by BA Richins Painting & Decorating Limited.

Page 5