3 February 2022 false No description of principal activity Taxfiler 2023.9 13892273business:PrivateLimitedCompanyLtd2022-02-032023-02-28 138922732022-02-02 138922732022-02-032023-02-28 13892273business:AuditExemptWithAccountantsReport2022-02-032023-02-28 13892273business:FilletedAccounts2022-02-032023-02-28 138922732023-02-28 13892273business:Director12022-02-032023-02-28 13892273business:RegisteredOffice2022-02-032023-02-28 13892273core:WithinOneYear2023-02-28 13892273core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 13892273core:SharePremiumcore:PreviouslyStatedAmount2023-02-28 13892273core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 13892273core:PreviouslyStatedAmount2023-02-28 13892273business:SmallEntities2022-02-032023-02-28 13892273countries:EnglandWales2022-02-032023-02-28 13892273core:ComputerEquipment2022-02-032023-02-28 13892273core:ComputerEquipment2022-02-02 13892273core:ComputerEquipment2023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 13892273 (England and Wales)
Grasp Technologies Limited Unaudited accounts for the period from 3 February 2022 to 28 February 2023
Grasp Technologies Limited Unaudited accounts Contents
Page
- 2 -
Grasp Technologies Limited Company Information for the period from 3 February 2022 to 28 February 2023
Director
Edward Matthews
Company Number
13892273 (England and Wales)
Registered Office
3RD FLOOR 1 ASHLEY ROAD ALTRINCHAM CHESHIRE WA14 2DT UNITED KINGDOM
Accountants
Evolve Accounting and Tax Solutions Ltd Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
- 3 -
Grasp Technologies Limited Statement of financial position as at 28 February 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
749 
Current assets
Debtors
2,917 
Cash at bank and in hand
206,408 
209,325 
Creditors: amounts falling due within one year
(40,433)
Net current assets
168,892 
Net assets
169,641 
Capital and reserves
Called up share capital
1 
Share premium
271,004 
Profit and loss account
(101,364)
Shareholders' funds
169,641 
For the period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 October 2023 and were signed on its behalf by
Edward Matthews Director Company Registration No. 13892273
- 4 -
Grasp Technologies Limited Notes to the Accounts for the period from 3 February 2022 to 28 February 2023
1
Statutory information
Grasp Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 13892273. The registered office is 3RD FLOOR 1 ASHLEY ROAD, ALTRINCHAM, CHESHIRE, WA14 2DT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 5 -
Grasp Technologies Limited Notes to the Accounts for the period from 3 February 2022 to 28 February 2023
Finance Lease
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Share Premium
Share premium represents the amount paid for shares in excess of the nominal value. Share premium is recognised on the issue of shares or when there is a binding agreement to purchase the shares such that any cash cannot be repaid.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 3 February 2022
- 
Additions
999 
At 28 February 2023
999 
Depreciation
Charge for the period
250 
At 28 February 2023
250 
Net book value
At 28 February 2023
749 
5
Debtors
2023 
£ 
Amounts falling due within one year
VAT
2,502 
Other debtors
415 
2,917 
6
Creditors: amounts falling due within one year
2023 
£ 
Trade creditors
20,956 
Taxes and social security
1,430 
Other creditors
398 
Loans from directors
14,999 
Accruals
2,650 
40,433 
7
Average number of employees
During the period the average number of employees was 1.
- 6 -