GRA Maritime Consultants Ltd Filleted Accounts Cover
GRA Maritime Consultants Ltd
Company No. 10323715
Information for Filing with The Registrar
31 August 2022
GRA Maritime Consultants Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 August 2022.
Principal activities
The principal activity of the company during the year under review was engineering related scientific and technical consulting activities.
Director
The Director who served at any time during the year was as follows:
R. Gray
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
R. Gray
Director
31 August 2022
GRA Maritime Consultants Ltd Balance Sheet Registrar
at
31 August 2022
Company No.
10323715
Notes
2022
2021
£
£
Fixed assets
Tangible assets
4
-4
-4
Current assets
Stocks
5
374,252374,252
Debtors
6
1,0005,000
Cash at bank and in hand
37,30945,213
412,561424,465
Creditors: Amount falling due within one year
7
(272,459)
(288,811)
Net current assets
140,102135,654
Total assets less current liabilities
140,102135,658
Net assets
140,102135,658
Capital and reserves
Called up share capital
1010
Profit and loss account
9
140,092135,648
Total equity
140,102135,658
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the director has not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 August 2022
And signed on its behalf by:
R. Gray
Director
31 August 2022
GRA Maritime Consultants Ltd Notes to the Accounts Registrar
for the year ended 31 August 2022
1
General information
Its registered number is: 10323715
Its registered office is:
1c Holders Barn
Clarendon Close
Petersfield
Hampshire
GU32 3FR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Tangible fixed assets and depreciation
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

Property under development for future sale comprises of materials, direct labour and other direct costs but excludes borrowing costs.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 September 2021
664664
At 31 August 2022
664664
Depreciation
At 1 September 2021
660660
Charge for the year
44
At 31 August 2022
664664
Net book values
At 31 August 2022
--
At 31 August 2021
4
4
5
Stocks
2022
2021
£
£
Work in progress
374,252374,252
374,252374,252
6
Debtors
2022
2021
£
£
Other debtors
1,0005,000
1,0005,000
7
Creditors:
amounts falling due within one year
2022
2021
£
£
Trade creditors
-9,147
Taxes and social security
532
-
Loans from directors
269,727277,664
Accruals and deferred income
2,2002,000
272,459288,811
8
Share Capital
10 ordinary shares at £1 each.
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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