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REGISTERED NUMBER: 07601483 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

GRANGEWOOD (CORNWALL) LIMITED

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRANGEWOOD (CORNWALL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2018







DIRECTORS: S Sutton
J M Sutton





REGISTERED OFFICE: Grangewood
Wesley Road
Cubert
Newquay
Cornwall
TR8 5HB





REGISTERED NUMBER: 07601483 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

BALANCE SHEET
30 APRIL 2018

30.4.18 30.4.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,625 18,750
Tangible assets 5 26,112 27,392
Investments 6 8,250 8,250
49,987 54,392

CURRENT ASSETS
Stocks 6,009 5,299
Debtors 7 3,095 4,048
Cash at bank and in hand 14,617 24,516
23,721 33,863
CREDITORS
Amounts falling due within one year 8 82,978 86,737
NET CURRENT LIABILITIES (59,257 ) (52,874 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,270

)

1,518

PROVISIONS FOR LIABILITIES 1,406 2,106
NET LIABILITIES (10,676 ) (588 )

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings (10,775 ) (687 )
SHAREHOLDERS' FUNDS (10,676 ) (588 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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.

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

BALANCE SHEET - continued
30 APRIL 2018


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 Board of Directors on 13 November 2018 and were signed on its behalf
by:





S Sutton - Director


GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

1. STATUTORY INFORMATION

Grangewood (Cornwall) 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 represents net sales of alcoholic beverages and food, excluding value added tax. Turnover is
recognised at the point of sale in the public house.

Goodwill
Goodwill, being the amount valued in connection with the purchase of a business in 2011, is being amortised
evenly over its estimated useful life of twelve years. Twelve years being the number of years remaining on the
lease at acquisition. The director's estimation of useful life is based upon the character and location of the public
house.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 12 years
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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 balance sheet date.

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

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2017
and 30 April 2018 37,500
AMORTISATION
At 1 May 2017 18,750
Amortisation for year 3,125
At 30 April 2018 21,875
NET BOOK VALUE
At 30 April 2018 15,625
At 30 April 2017 18,750

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 May 2017 31,874 20,414 524 52,812
Additions - 4,368 110 4,478
Disposals - (1,159 ) - (1,159 )
At 30 April 2018 31,874 23,623 634 56,131
DEPRECIATION
At 1 May 2017 15,052 10,237 131 25,420
Charge for year 2,656 2,048 159 4,863
Eliminated on disposal - (264 ) - (264 )
At 30 April 2018 17,708 12,021 290 30,019
NET BOOK VALUE
At 30 April 2018 14,166 11,602 344 26,112
At 30 April 2017 16,822 10,177 393 27,392

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2018

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.18 30.4.17
£    £   
Rent bond 8,250 8,250

The fixed asset investment represents a rent bond paid to the brewery upon entering into an lease with them. This
bond is returnable at the end of the lease term, during which the bond will earn investment income in the form of
interest.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.18 30.4.17
£    £   
Trade debtors 1,802 4,048
Prepayments 1,293 -
3,095 4,048

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.18 30.4.17
£    £   
Bank loans and overdrafts 5,483 6,878
Trade creditors 3,678 5,579
Tax - 394
Social security and other taxes 5,887 7,463
Other creditors 133 109
Barclaycard creditor 1,802 -
Directors' current accounts 63,035 63,870
Accrued expenses 2,960 2,444
82,978 86,737

9. ULTIMATE CONTROLLING PARTY

During the period, the company was controlled by Mr S Sutton, by virtue of the fact that he owns 66.66% of the
company's issued Ordinary share capital.