Company Registration No. 10406071 (England and Wales)
GREY ECLIPSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
GREY ECLIPSE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
GREY ECLIPSE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,215
-
Current assets
Debtors
4
4,123
-
Cash at bank and in hand
99,313
100
103,436
100
Creditors: amounts falling due within one year
5
(117,697)
-
Net current (liabilities)/assets
(14,261)
100
Total assets less current liabilities
(13,046)
100
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(13,146)
-
Total equity
(13,046)
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 29 November 2018 and are signed on its behalf by:
I M Fitzpatrick
Director
Company Registration No. 10406071
GREY ECLIPSE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 FEBRUARY 2018
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2016
-
-
-
Period ended 31 August 2017:
Profit and total comprehensive income for the period
-
-
-
Issue of share capital
6
100
-
100
Balance at 31 August 2017
100
-
100
Period ended 28 February 2018:
Loss and total comprehensive income for the period
-
(13,146)
(13,146)
Balance at 28 February 2018
100
(13,146)
(13,046)
GREY ECLIPSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2018
- 3 -
1
Accounting policies
Company information
Grey Eclipse Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
17 Hockley Court, 2401 Stratford Road, Hockley Heath, Solihull, B94 6NW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest
pound
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
The current period of account is for a six month period, the year end has been shortened to align the company's year end with the parent and other fellow group companies.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
GREY ECLIPSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2017 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2017
-
Additions
1,822
At 28 February 2018
1,822
Depreciation and impairment
At 1 September 2017
-
Depreciation charged in the period
607
At 28 February 2018
607
Carrying amount
At 28 February 2018
1,215
At 31 August 2017
-
GREY ECLIPSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2018
- 5 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
560
-
Amounts owed by group undertakings
100
-
660
-
Amounts falling due after more than one year:
Other debtors
3,463
-
Total debtors
4,123
-
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,327
-
Amounts due to group undertakings
72,170
-
Other taxation and social security
40,200
-
Other creditors
3,000
-
117,697
-
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
7
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2018
2017
£
£
31,746
-
GREY ECLIPSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2018
- 6 -
8
Parent company
The immediate parent company is Grey Eclipse Holdings Limited, the registered office is 17 Hockley Court, 2401 Stratford Road, Hockley Heath, Solihull, B94 6NW. There is deemed to be no ultimate controlling party.