| Grovell Limited |
| Registered number: |
08326824 |
| Directors' Report |
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| The directors present their report and accounts for the year ended 31 December 2017. |
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| Principal activities |
| The company's principal activity during the year continued to be that of a nominee holding company. |
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| Directors |
| The following persons served as directors during the year: |
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Versos Directors Limited |
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R. Hazzard (resigned 23 February 2018) |
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D, Cathersides (appointed 23 February 2018) |
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| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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| This report was approved by the board on 29 August 2018 and signed on its behalf. |
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| Versos Directors Limited |
| Director |
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| Grovell Limited |
| Notes to the Accounts |
| for the year ended 31 December 2017 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Going concern |
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The company is dependant on the continued financial support of the company's shareholder to enable it to continue operating and to meet its liabilities as they fall due. The shareholder has confirmed that they will continue to provide financial support to the company for the forseeable future to enable the company to continue normal activities until it is in a financial position to support itself.
For this reason, the directors continue to adopt the going concern basis in producing the financial statements. Should this financial support not be available, the going concern basis would be inappropriate and adjustments would have to be made to revise the value of assets to their net realisable amount and to provide for any further liabilities which may arise. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Debtors |
2017 |
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2016 |
| € |
€ |
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Trade debtors |
- |
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3,917 |
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| 3 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
| € |
€ |
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Other creditors |
42,751 |
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38,990 |
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| 4 |
Other information |
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Grovell Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Fourth Floor |
|
20 Margaret Street |
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London |
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United Kingdom |
|
W1W 8RS |
