Gracefield Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05629900 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2014

for

Gracefield Developments Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

K S Krishan

P Krishan

SECRETARY:

K S Krishan

REGISTERED OFFICE:

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

REGISTERED NUMBER:

05629900 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Gracefield Developments Limited for the year ended 30 April 2014 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and

other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Gracefield Developments Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Gracefield Developments Limited and state those matters that we have agreed to state to the Board of Directors of

Gracefield Developments Limited, as a body, in this report in accordance with the requirements of the Association of

Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted

by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a

body, for our work or for this report.

It is your duty to ensure that Gracefield Developments Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of

Gracefield Developments Limited. You consider that Gracefield Developments Limited is exempt from the statutory

audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gracefield Developments

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

20 November 2014

CURRENT ASSETS

Stocks

187,538

184,177

Debtors

291,503

291,503

479,041

475,680

CREDITORS

Amounts falling due within one year

491,644

487,383

NET CURRENT LIABILITIES

(12,603

)

(11,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,603

)

(11,703

)

CAPITAL AND RESERVES

Called up share capital

2

100

100

Profit and loss account

(12,703

)

(11,803

)

SHAREHOLDERS' FUNDS

(12,603

)

(11,703

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 November 2014 and were signed on its behalf by:

K S Krishan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Going concern

The financial statements have been prepared on a going concern basis, the validity of which depends on the

future support of the directors. In the directors opinion, this support will be available such that the company will

continue in operational existence for the foreseeable future.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100