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REGISTERED NUMBER: 08184898 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

GRABZOOM LIMITED

GRABZOOM LIMITED (REGISTERED NUMBER: 08184898)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRABZOOM LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTOR: A Morrison





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ





REGISTERED NUMBER: 08184898 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

GRABZOOM LIMITED (REGISTERED NUMBER: 08184898)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 580 1,063

CURRENT ASSETS
Debtors 5 22,318 9,247
Cash at bank 5,222 12,981
27,540 22,228
CREDITORS
Amounts falling due within one year 6 (13,680 ) (7,176 )
NET CURRENT ASSETS 13,860 15,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,440

16,115

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 14,439 16,114
SHAREHOLDERS' FUNDS 14,440 16,115

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:





A Morrison - Director


GRABZOOM LIMITED (REGISTERED NUMBER: 08184898)

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


1. STATUTORY INFORMATION

Grabzoom Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08184898. The address of the registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, CV23 0UZ.

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.

The presentational currency of the financial statements is sterling (£).

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.The following criteria must also be met before revenue is recognised:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer equipment - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments
i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


GRABZOOM LIMITED (REGISTERED NUMBER: 08184898)

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


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 September 2022 4,811
Additions 100
At 31 August 2023 4,911
DEPRECIATION
At 1 September 2022 3,748
Charge for year 604
Eliminated on disposal (21 )
At 31 August 2023 4,331
NET BOOK VALUE
At 31 August 2023 580
At 31 August 2022 1,063

GRABZOOM LIMITED (REGISTERED NUMBER: 08184898)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,898 7,624
Other debtors 420 1,623
22,318 9,247

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 11,381 5,314
Other creditors 2,299 1,862
13,680 7,176

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the director is owed £624 (2022 - £312 owed to the company) by the company. The amount is interest free and repayable on demand.