Grow Rentals Wrexham Limited
|
Registered number: |
07969900
|
Balance Sheet |
as at 31 March 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
37,125 |
|
|
44,100 |
Tangible assets |
4 |
|
|
2,254 |
|
|
3,600 |
|
|
|
|
39,379 |
|
|
47,700 |
|
Current assets |
Debtors |
5 |
|
4,922 |
|
|
622 |
Cash at bank and in hand |
|
|
11,648 |
|
|
5,542 |
|
|
|
16,570 |
|
|
6,164 |
|
Creditors: amounts falling due within one year |
6 |
|
(51,974) |
|
|
(52,746) |
|
Net current liabilities |
|
|
|
(35,404) |
|
|
(46,582) |
|
Total assets less current liabilities |
|
|
|
3,975 |
|
|
1,118 |
|
|
Provisions for liabilities |
|
|
|
(450) |
|
|
- |
|
|
Net assets |
|
|
|
3,525 |
|
|
1,118 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
6 |
|
|
6 |
Profit and loss account |
|
|
|
3,519 |
|
|
1,112 |
|
Shareholder's funds |
|
|
|
3,525 |
|
|
1,118 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
|
|
|
R Oakes |
Director |
Approved by the board on 29 September 2017
|
|
Grow Rentals Wrexham Limited
|
Notes to the Accounts |
for the year ended 31 March 2017
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
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).
|
|
|
Turnover |
|
Turnover represents commissions earned, net of value added tax. These commissions are earned as letting income is received on behalf of landlords or at completion date in respect of properties sold.
|
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulated amortisation, which is provided such that the goodwill in question is written off in equal annual instalments over the estimated economic life of 5 years.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation is provided at rates varying between 25 and 50% on a reducing balance basis on all tangible fixed assets as calculated to write off the cost, less estimated residual value, of each asset over its expected useful life.
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
|
|
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
5 |
|
6 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2016 |
71,000 |
|
Additions |
500 |
|
At 31 March 2017 |
71,500 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2016 |
26,900 |
|
Provided during the year |
7,475 |
|
At 31 March 2017 |
34,375 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
37,125 |
|
At 31 March 2016 |
44,100 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2016 |
10,096 |
|
At 31 March 2017 |
10,096 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2016 |
6,496 |
|
Charge for the year |
1,346 |
|
At 31 March 2017 |
7,842 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
2,254 |
|
At 31 March 2016 |
3,600 |
|
|
5 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
1,200 |
|
- |
|
Other debtors |
3,722 |
|
622 |
|
|
|
|
|
|
4,922 |
|
622 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Trade creditors |
- |
|
837 |
|
Amounts owed to related companies |
43,389 |
|
43,589 |
|
Taxation and social security |
7,085 |
|
6,520 |
|
Other creditors |
1,500 |
|
1,800 |
|
|
|
|
|
|
51,974 |
|
52,746 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
|
|
The company has received working capital funding from other companies which are owned in part by the director, Mr R Oakes. This funding has been provided without terms attaching.
|
|
|
8 |
Controlling party |
|
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The ultimate controlling party of the company is its director, Mr R Oakes.
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|
9 |
Other information |
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Grow Rentals Wrexham Limited is a private company limited by shares and incorporated in England. Its registered office is: 5 King Street, Wrexham, LL11 1HF. |