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REGISTERED NUMBER: SC671618 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GRM BODYCRAFT DUNDEE LTD

GRM BODYCRAFT DUNDEE LTD (REGISTERED NUMBER: SC671618)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRM BODYCRAFT DUNDEE LTD

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: G A Richardson
R M Matthews



REGISTERED OFFICE: 1 West Telferton
Edinburgh
EH7 6UL



BUSINESS ADDRESS: Unit 1
2 Noble Court
Noble Road
Dundee
DD2 4UH



REGISTERED NUMBER: SC671618 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: The Royal Bank of Scotland plc
36 St. Andrew Square
Edinburgh
EH2 2YB



SOLICITORS: Gilson Gray
29 Rutland Square
Edinburgh
EH1 2BW

GRM BODYCRAFT DUNDEE LTD (REGISTERED NUMBER: SC671618)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,793 102,059

CURRENT ASSETS
Stocks 95,802 81,746
Debtors 5 337,803 254,414
Cash at bank 154,838 78,701
588,443 414,861
CREDITORS
Amounts falling due within one year 6 503,764 490,276
NET CURRENT ASSETS/(LIABILITIES) 84,679 (75,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,472

26,644

PROVISIONS FOR LIABILITIES 23,024 5,544
NET ASSETS 151,448 21,100

CAPITAL AND RESERVES
Called up share capital 100 2
Retained earnings 151,348 21,098
151,448 21,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 31 August 2023 and were signed on its behalf by:




G A Richardson - Director



R M Matthews - Director


GRM BODYCRAFT DUNDEE LTD (REGISTERED NUMBER: SC671618)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023


1. STATUTORY INFORMATION

GRM Bodycraft Dundee Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. 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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks and work in progress
Stock and work in progress is 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 material 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.

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 28 (2022 - 23 ) .

GRM BODYCRAFT DUNDEE LTD (REGISTERED NUMBER: SC671618)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 170,260
Additions 17,109
At 31 March 2023 187,369
DEPRECIATION
At 1 April 2022 68,201
Charge for year 29,375
At 31 March 2023 97,576
NET BOOK VALUE
At 31 March 2023 89,793
At 31 March 2022 102,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 329,127 245,836
Other debtors 8,676 8,578
337,803 254,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 316,067 259,456
Taxation and social security 107,480 62,892
Other creditors 80,217 167,928
503,764 490,276

7. RELATED PARTY DISCLOSURES

Included within other creditors is a loan from a company which is under common control amounting to £27,515 (2022: £106,775). This loan which is unsecured is provided interest free and has no agreed terms of repayment.

8. LEASING AGREEMENT

At the year end the company had total commitments under operating leases expiring after more than 5 years of £466,945 (2022: £526,945).