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REGISTERED NUMBER: 09442857 (England and Wales)















Gradsouthwest Limited

Unaudited Financial Statements for the Year Ended 28 February 2023






Gradsouthwest Limited (Registered number: 09442857)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gradsouthwest Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Dr D L Watson
Ms C J Weston





REGISTERED OFFICE: 3 Southernhay West
Exeter
EX1 1JG





BUSINESS ADDRESS: Innovation Centre
University of Exeter
Rennes Drive
Exeter
Devon
EX4 4RN





REGISTERED NUMBER: 09442857 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Gradsouthwest Limited (Registered number: 09442857)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 34 51
Tangible assets 6 - -
34 51

CURRENT ASSETS
Debtors 7 1,076 554
Cash at bank 43,266 45,325
44,342 45,879
CREDITORS
Amounts falling due within one year 8 (6,371 ) (10,688 )
NET CURRENT ASSETS 37,971 35,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,005

35,242

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,905 35,142
SHAREHOLDERS' FUNDS 38,005 35,242

Gradsouthwest Limited (Registered number: 09442857)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 10 October 2023 and were signed on its behalf by:




Dr D L Watson - Director



Ms C J Weston - Director


Gradsouthwest Limited (Registered number: 09442857)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Gradsouthwest 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable in respect of the provision of services to customers falling within the company's ordinary activities.

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% straight line

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

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.


Gradsouthwest Limited (Registered number: 09442857)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1 March 2022
and 28 February 2023 170
AMORTISATION
At 1 March 2022 119
Amortisation for year 17
At 28 February 2023 136
NET BOOK VALUE
At 28 February 2023 34
At 28 February 2022 51

6. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 11,800
DEPRECIATION
At 1 March 2022
and 28 February 2023 11,800
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Gradsouthwest Limited (Registered number: 09442857)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors
and accrued income 864 342
Prepayments 212 212
1,076 554

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 253 662
Tax 660 3,019
VAT 312 889
Accruals and deferred income 5,146 6,118
6,371 10,688