Grassroots Supplies Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09164198 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

GRASSROOTS SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E A Mear

REGISTERED OFFICE:

Wood Farm

Vicarage Road

Waresley

Bedfordshire

SG19 3DA

REGISTERED NUMBER:

09164198 (England and Wales)

ACCOUNTANTS:

Seagrave French LLP

13-15 Regent Street

Nottingham

NG1 5BS

FIXED ASSETS

Tangible assets

4

1,354

1,771

CURRENT ASSETS

Debtors

5

2,919

24,790

Cash at bank and in hand

2,730

3,291

5,649

28,081

CREDITORS

Amounts falling due within one year

6

7,029

17,733

NET CURRENT (LIABILITIES)/ASSETS

(1,380

)

10,348

TOTAL ASSETS LESS CURRENT LIABILITIES

(26

)

12,119

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(27

)

12,118

SHAREHOLDERS' FUNDS

(26

)

12,119

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

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

The director acknowledges her 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 26 March 2018 and were signed by:

Mrs E A Mear - Director

1.	STATUTORY INFORMATION

Grassroots Supplies 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.

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

-

15% on cost

Computer equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 September 2016

and 31 August 2017

2,085

417

2,502

DEPRECIATION

At 1 September 2016

626

105

731

Charge for year

313

104

417

At 31 August 2017

939

209

1,148

NET BOOK VALUE

At 31 August 2017

1,146

208

1,354

At 31 August 2016

1,459

312

1,771

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,145

23,765

VAT

424

692

Prepayments

350

333

2,919

24,790

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

3,264

6,912

Tax

66

2,587

Other creditors

2,500

2,500

Directors' loan accounts

349

2,884

Accrued expenses

850

2,850

7,029

17,733

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,000 were paid to the director .

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E A Mear.