REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
THOMAS GRANT (BROCKLEES) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
THOMAS GRANT (BROCKLEES) LIMITED |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THOMAS GRANT (BROCKLEES) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
20 Barns Street |
Ayr |
Ayrshire |
KA7 1XA |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
BALANCE SHEET |
30 APRIL 2023 |
30/4/23 | 30/4/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
BALANCE SHEET - continued |
30 APRIL 2023 |
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 |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
Thomas Grant (Brocklees) Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
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 |
Plant and machinery | - |
Motor vehicles | - |
FINANCIAL INSTRUMENTS |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
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. |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
2. | 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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. |
The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. |
The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Transfer to ownership | (533,895 | ) | - | (533,895 | ) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Transfer to ownership | (239,927 | ) | - | (239,927 | ) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
VAT | 56,391 | - |
Directors' current accounts | 31,772 | 11,772 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Hire purchase contracts |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
30/4/23 | 30/4/22 |
£ | £ |
Deferred tax | 264,758 | 265,052 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Provided during year | ( |
) |
Balance at 30 April 2023 |
9. | RELATED PARTY DISCLOSURES |
Included in creditors at the year end is the directors' current account of £31,772 (2021 £11,772). The loan has no fixed terms of repayment and is free from interest charges. |
Included in other creditors at the year end is £444,616 (2022 £585,751) due from Thomas Grant & Son, a partnership which is equally owned by the directors. |
THOMAS GRANT (BROCKLEES) LIMITED (REGISTERED NUMBER: SC248731) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The directors consider that there is no ultimate controlling party as the directors, Mr and Mrs Grant, each own 50% of the issued share capital of the company. |