REGISTERED NUMBER: 03851743 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2018

FOR

GARENNE SHOPFITTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A J Hall

Mr M Holmes

Mr R C Jones

Mr G R Pendreigh

Mr R N Hulme

SECRETARY:

Mr R C Jones

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

Unit 15 Westlink

Belbins Business Park

Cupernham Lane

Romsey

Hampshire

SO51 7JF

REGISTERED NUMBER:

03851743 (England and Wales)

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

FIXED ASSETS

Tangible assets

5

37,515

51,060

Investments

6

-

43

37,515

51,103

CURRENT ASSETS

Stocks

1,796

1,237

Debtors

7

1,348,282

1,292,936

Cash at bank and in hand

949,666

1,082,967

2,299,744

2,377,140

CREDITORS

Amounts falling due within one year

8

964,420

1,289,592

NET CURRENT ASSETS

1,335,324

1,087,548

TOTAL ASSETS LESS CURRENT LIABILITIES

1,372,839

1,138,651

CREDITORS

Amounts falling due after more than one year

9

23,035

19,283

NET ASSETS

1,349,804

1,119,368

CAPITAL AND RESERVES

Called up share capital

11

100

5

Retained earnings

1,349,704

1,119,363

SHAREHOLDERS' FUNDS

1,349,804

1,119,368

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 3rd October 2018 and were signed on its behalf by:

Mr G R Pendreigh - Director

1.	STATUTORY INFORMATION

Garenne Shopfitting 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and

contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% straight line

All fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks and long term contracts

Stock is stated at the lower of cost and estimated net realisable value after making due provision for damaged,

obsolete and slow moving items.

Profits on long term contracts is taken if the final outcome can be assessed with reasonable certainty. Work in

progress is valued at cost plus attributable profits less foreseeable losses and payments on account. The cost of

work in progress includes labour and attributable overheads.

Where the cost plus attributable profit less foreseeable losses is in excess of payments on account, the excess

is included as "amounts recoverable on contracts" under debtors in the balance sheet.

Where payments on account are in excess of the cost plus attributable profits less foreseeable losses, the

excess is included as "excess payments on account" under creditors - amounts falling due within one year in the

balance sheet.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 17 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

£

£

£

COST

At 1st July 2017

33,724

187

4,856

At 30th June 2018

33,724

187

4,856

DEPRECIATION

At 1st July 2017

9,131

38

971

Charge for year

9,131

30

777

Eliminated on disposal

-

-

-

At 30th June 2018

18,262

68

1,748

NET BOOK VALUE

At 30th June 2018

15,462

119

3,108

At 30th June 2017

24,593

149

3,885

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st July 2017

20,992

16,822

76,581

Additions

-

17,085

17,085

Disposals

(20,889

)

-

(20,889

)

At 30th June 2018

103

33,907

72,777

DEPRECIATION

At 1st July 2017

6,998

8,383

25,521

Charge for year

796

6,744

17,478

Eliminated on disposal

(7,737

)

-

(7,737

)

At 30th June 2018

57

15,127

35,262

NET BOOK VALUE

At 30th June 2018

46

18,780

37,515

At 30th June 2017

13,994

8,439

51,060

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2017

43

Disposals

(43

)

At 30th June 2018

-

NET BOOK VALUE

At 30th June 2018

-

At 30th June 2017

43

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,243,016

1,276,285

Amounts owed by group undertakings

16,091

211

Other debtors

89,175

16,440

1,348,282

1,292,936

Included in other debtors is £14,280 (2017: £16,440) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

5,582

Payments on account

15,000

150,164

Trade creditors

627,993

902,737

Amounts owed to group undertakings

106,745

100

Taxation and social security

148,640

133,708

Other creditors

66,042

97,301

964,420

1,289,592

Included in other creditors is £66,042 (2017: £97,263) in relation to accruals and deferred income.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

23,035

19,283

10.	FINANCIAL INSTRUMENTS

The Company are part of a cross guarantee arrangement, covering all group undertakings, with all group

banking facilities secured over all group assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

5

(2017 - 5 )

95 Ordinary shares of £1 were issued during the year as a bonus out of reserves.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

13.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £3,719 (2017: £38,438).

This amount is in relation to operating lease commitments which are payable over the next 4 years.

14.	RELATED PARTY DISCLOSURES

During the year there were the following related party transactions requiring disclosure in accordance with FRS

102 Section 1AC.35.

Owners holding a participating interest in Garenne Shopfitting Limited

During the year Garenne Shopfitting Limited received interest from owners holding a participating interest

amounting to £4,027 (2017: £2,689) and incurred recharged costs and management charges totalling £18,670

(2017: £7,003).

2018

2017

£

£

Amount due to/(from) the related party

1,449

(211

)

Companies in which Garenne Shopfitting Limited held a participating interest

The subsidiary company of Garenne Shopfitting Limited was dissolved on 27th April 2018.

2018

2017

£

£

Amount due to the related party

-

100

15.	PARENT AND ULTIMATE PARENT COMPANY

The smallest group within which Garenne Shopfitting Limited belongs and for which consolidated financial

statements are prepared is Garenne Construction Group Limited with its registered office address at Garenne

House, Rue de la Cache, St Sampsons, Guernsey, GY2 4AF.

The largest group within which Garenne Shopfitting Limited belongs and for which group consolidated financial

statements are prepared is Garenne Group Limited, a company incorporated in Guernsey.