pinacle - Company Accounts (iXBRL 6.0.16)

GNUK LTD

FILLETED FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2017

Company Registration Number - 07712689

KP SIMPSON

Certified Public Accountants

	1.
GROWNORTHERN LTD
COMPANY NUMBER - 07712689
Balance sheet as at 31 July 2017

			2017		2016

	Notes	£	£	£	£
FIXED ASSETS
Intangible assets	4		420		420
Tangible assets	5		-		60
			420		480
Current assets
Stocks		72,832		2,000
Cash at bank and in hand		108		18,914
		72,940		20,914
Current liabilities
Creditors - Amounts
falling due within one year	6	191,713		77,525
NET CURRENT LIABILITIES			(118,773)		(56,611)
Total assets less current liabilities			(118,353)		(56,131)
CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss account			(118,354)		(56,132)
Shareholders' funds			(118,353)		(56,131)

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 31 July 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the board of directors on18 April 2018
and signed on their behalf by:
D EDWARDS
The notes on pages 2 to 4 form an integral part of these accounts.

	2.
GROWNORTHERN LTD
Notes to the Financial Statements
For the year ended 31 July 2017
1. General Information

GROWNORTHERN LTD is a Private Company, limited by shares, domiciled in England and Wales, registration number 07712689.

The company's registered office is CROSS GATE CENTRE SUITE 11/12, CROSS GATE, DURHAM, DH1 4HF.

2. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 10.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Office and computer equipment - 33% straight line

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial Instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. Employees

The average number of persons employed by the company (including directors) during the year was 2 (2016 - 2).

	3.
GROWNORTHERN LTD
Notes to the Financial Statements
For the year ended 31 July 2017

4. Fixed assets - intangible

	Other
Fair value	£
At 01 August 2016	420
and 31 July 2017
Net book values
At 31 July 2017	420
At 01 August 2016	420

5. Fixed assets - tangible

	Plant and
	Machinery
	etc.
Fair value	£
At 01 August 2016	352
and 31 July 2017
Depreciation
At 01 August 2016	292
Charge for year	60
At 31 July 2017	352
Net book values
At 01 August 2016	60

	2017		2016
	£		£
6. Creditors
Amounts falling due within one year:
Bank overdraft	13,214		-
Trade creditors	618		1,100
Taxation and social security	(2,049)		(650)
Director's Current Accounts	178,430		75,575
Other creditors	1,500		1,500
	191,713		77,525

	4.
GROWNORTHERN LTD
Notes to the Financial Statements
For the year ended 31 July 2017

	2017		2016
	£		£
7. Called up share capital

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 eachOrdinary A	1		1

8. Related party transactions

9. Control

Daniel Edwards, a director, controls the company by virtue of a majority shareholding.

10. Impact of first year adoption of FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.