Grandbyte Computers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03368642 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2017

FOR

GRANDBYTE COMPUTERS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr V Solanki

REGISTERED OFFICE:

The Mews

St Nicholas Lane

Lewes

East Sussex

BN7 2JZ

REGISTERED NUMBER:

03368642 (England and Wales)

ACCOUNTANTS:

James Todd & Co (Lewes) Limited

Chartered Accountants

The Mews

St Nicholas Lane

Lewes

East Sussex

BN7 2JZ

FIXED ASSETS

Tangible assets

4

835

1,252

CURRENT ASSETS

Debtors

202,701

205,157

Cash at bank and in hand

159,834

315,929

362,535

521,086

CREDITORS

Amounts falling due within one year

183,150

230,984

NET CURRENT ASSETS

179,385

290,102

TOTAL ASSETS LESS CURRENT LIABILITIES

180,220

291,354

CAPITAL AND RESERVES

Called up share capital

250

250

Retained earnings

179,970

291,104

SHAREHOLDERS' FUNDS

180,220

291,354

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 31st July 2018 and were signed by:

Mr V Solanki - Director

1.	STATUTORY INFORMATION

Grandbyte Computers 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, and are in sterling (£), which is the functional currency of the company. Monetary amounts in these

financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. The directors therefore

adopt the going concern basis of accounting in preparing the financial statements.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

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 3 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2016

and 31st October 2017

14,844

DEPRECIATION

At 1st November 2016

13,592

Charge for year

417

At 31st October 2017

14,009

NET BOOK VALUE

At 31st October 2017

835

At 31st October 2016

1,252