GRABAR_INVESTMENTS_(1994) - Accounts

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grabar Investments (1994) Limited for the year ended 31 March 2014 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Grabar Investments (1994) Limited, as a body, in accordance with the terms of our engagement letter dated 8 January 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Grabar Investments (1994) Limited and state those matters that we have agreed to state to the Board of Directors of Grabar Investments (1994) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grabar Investments (1994) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Grabar Investments (1994) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Grabar Investments (1994) Limited. You consider that Grabar Investments (1994) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grabar Investments (1994) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Fixed asset investments are stated at cost less provision for diminution in value.

The Ordinary 'A' share and Ordinary 'B' share rank pari passu in all respects except in declaration of dividends, where by one class shall not compel a dividend at the same rate to be declared for any other class of share.

Included in debtors is an amount of £18,628 (2013: £414,823) due from G S Barclay and S Barclay. Interest of £8,499 (2013: £4,500) was charged on the overdrawn loan which was repaid on 14th April 2014.

The opening balance on the director's loan account was an amount of £414,823, there were advances made in the year of £95,297 and repayments of £491,492 giving a closing balance of £18,628.