Graves Accounting Ltd Accounts

GRAVES ACCOUNTING LTD - Company Information






Graves Accounting Ltd
	Company No. 09447214
		Information for Filing with The Registrar
		30 April 2018

The Director presents his report and the accounts for the period ended 30 April 2018.

Principal activities
The Company is dormant and has not traded during the period.




Director

The Director who served at any time during the period was as follows:

S. Graves



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

S. Graves
Director
12 October 2018

at	30 April 2018

Company No.		09447214	Notes	2018	2017
				£	£






Current assets



	Cash at bank and in hand			-	6,797
				-	6,797
Creditors: Amount falling due within one year			3	(786)	17,204
Net current (liabilities)/assets				(786)	24,001
Total assets less current liabilities				(786)	24,001




Net (liabilities)/assets				(786)	24,001

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		4	(787)	24,000

Total equity				(786)	24,001

For the year ending 30 April 2018 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 12 October 2018

And signed on its behalf by:

S. Graves
Director

for the period ended 30 April 2018

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

33% Reducing balance

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2018	2017
			Number	Number
		The average number of persons employed during the period :	1	1

3	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	342	-

		Corporation tax	2,783	2,783
		Other taxes and social security	-	123
		Loans from directors	(2,669)	(20,110)

		Accruals and deferred income	330	-
			786	(17,204)

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

5	Advances and credits to directors
		Included within Other debtors are the following loans to directors:

		Director	Description	At 1 December 2017	Advanced	Repaid	At 30 April 2018
				£	£	£	£
		S. Graves	Directors loan account	20,110	2,669	(20,110)	2,669







































				20,110	2,669	(20,110)	2,669

Related party disclosures

Controlling parties

Immediate controlling parties

The company continued to be controlled by Mr S. Graves

Additional information

Its registered number is:

09447214

Its registered office is:

West Shaw Cote Farm

Low Abbotside

Askrigg, Leyburn

North Yorkshire

DL8 3JH