Abbreviated Company Accounts - GREYSTONE CONSTRUCTION LTD

GREYSTONE CONSTRUCTION LTD - Company Information

Registered Number 07682789

GREYSTONE CONSTRUCTION LTD

Abbreviated Accounts

31 August 2014

GREYSTONE CONSTRUCTION LTD Registered Number 07682789

Abbreviated Balance Sheet as at 31 August 2014

	Notes	31/08/2014	30/06/2013
		£	£
Fixed assets
Tangible assets	2	9,756	-
		9,756	-
Current assets
Stocks		75,446	-
Debtors		302,428	-
Cash at bank and in hand		212	100
		378,086	100
Creditors: amounts falling due within one year		(363,515)	-
Net current assets (liabilities)		14,571	100
Total assets less current liabilities		24,327	100
Total net assets (liabilities)		24,327	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		24,227	-
Shareholders' funds		24,327	100

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 1 December 2014

And signed on their behalf by:
Charu Bhatia, Director

GREYSTONE CONSTRUCTION LTD Registered Number 07682789

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Motor vehicles 20% reducing balance

Valuation information and policy
Stocks
Stock is valued at the lower of cost and net realisable value.

Leasing and hire purchase commitments
"Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term."

2Tangible fixed assets

	£
Cost
At 1 July 2013	-
Additions	12,195
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	12,195
Depreciation
At 1 July 2013	-
Charge for the year	2,439
On disposals	-
At 31 August 2014	2,439
Net book values
At 31 August 2014	9,756
At 30 June 2013	-