Gridfix Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03283997 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st January 2018

for

Gridfix Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

K Wraith

SECRETARY:

Ms J D Cooper

REGISTERED OFFICE:

8 Shepcote Office Village

Shepcote Lane

Sheffield

South Yorkshire

S9 1TG

REGISTERED NUMBER:

03283997 (England and Wales)

ACCOUNTANTS:

Hewson & Howson

8 Shepcote Office Village

Shepcote Lane

Sheffield

South Yorkshire

S9 1TG

FIXED ASSETS

Tangible assets

4

7,731

9,034

CURRENT ASSETS

Debtors

5

3,358

11,858

Cash at bank

9,332

2,577

12,690

14,435

CREDITORS

Amounts falling due within one year

6

10,291

10,709

NET CURRENT ASSETS

2,399

3,726

TOTAL ASSETS LESS CURRENT LIABILITIES

10,130

12,760

PROVISIONS FOR LIABILITIES

1,427

1,753

NET ASSETS

8,703

11,007

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8,701

11,005

SHAREHOLDERS' FUNDS

8,703

11,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2018 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.

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 30th October 2018 and were signed by:

K Wraith - Director

1.	STATUTORY INFORMATION

Gridfix 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st February 2017

6,438

15,697

7,314

29,449

Additions

291

-

1,084

1,375

At 31st January 2018

6,729

15,697

8,398

30,824

DEPRECIATION

At 1st February 2017

4,386

9,489

6,540

20,415

Charge for year

586

1,552

540

2,678

At 31st January 2018

4,972

11,041

7,080

23,093

NET BOOK VALUE

At 31st January 2018

1,757

4,656

1,318

7,731

At 31st January 2017

2,052

6,208

774

9,034

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st February 2017

and 31st January 2018

15,697

DEPRECIATION

At 1st February 2017

9,489

Charge for year

1,552

At 31st January 2018

11,041

NET BOOK VALUE

At 31st January 2018

4,656

At 31st January 2017

6,208

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other debtors

3,358

11,858

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Bank loans and overdrafts

-

188

Hire purchase contracts

-

2,006

Taxation and social security

4,951

4,955

Other creditors

5,340

3,560

10,291

10,709

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company paid dividends to K Wraith amounting to £14,958 (2017: £14,068).

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31st January 2018 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hewson & Howson

8 Shepcote Office Village

Shepcote Lane

Sheffield

South Yorkshire

S9 1TG

30th October 2018