Company registration number 08651410 (England and Wales)
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
BALANCE SHEET
AS AT
29 NOVEMBER 2022
29 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
917
1,917
Tangible assets
4
22,823
24,588
23,740
26,505
Current assets
Debtors
5
17,416
48
Cash at bank and in hand
147,118
98,754
164,534
98,802
Creditors: amounts falling due within one year
6
(120,549)
(58,935)
Net current assets
43,985
39,867
Total assets less current liabilities
67,725
66,372
Creditors: amounts falling due after more than one year
7
(19,798)
(24,888)
Net assets
47,927
41,484
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
47,827
41,384
Total equity
47,927
41,484
The notes on pages 3 to 6 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 NOVEMBER 2022
29 November 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mr S Harris
Director
Company registration number 08651410 (England and Wales)
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022
- 3 -
1
Accounting policies
Company information
Grange Renovation (Building Repairs & Alterations) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, United Kingdom, B75 5BE.
1.1
Accounting convention
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 Companies Act 2006.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment
20% on cost
Computers
10% on reducing balance
Motor vehicles
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
Taxation for the period 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 tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payables using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2022
1
Accounting policies
(Continued)
- 4 -
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 assessment in periods different from those win 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 period 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.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.7
Government grants
Government grant have been recognised under the accrual model. Grant relating to revenue expenditure are recognised in come on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2022
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 30 November 2021 and 29 November 2022
10,000
Amortisation and impairment
At 30 November 2021
8,083
Amortisation charged for the year
1,000
At 29 November 2022
9,083
Carrying amount
At 29 November 2022
917
At 29 November 2021
1,917
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 November 2021
34,247
Additions
3,323
At 29 November 2022
37,570
Depreciation and impairment
At 30 November 2021
9,659
Depreciation charged in the year
5,088
At 29 November 2022
14,747
Carrying amount
At 29 November 2022
22,823
At 29 November 2021
24,588
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
17,416
48
GRANGE RENOVATION (BUILDING REPAIRS & ALTERATIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2022
- 6 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
2,729
2,729
Trade creditors
15,048
22,628
Taxation and social security
52,564
26,240
Other creditors
50,208
7,338
120,549
58,935
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
13,845
16,146
Other creditors
5,953
8,742
19,798
24,888
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
90
90
90
90
B Ordinary of £1 each
10
10
10
10
100
100
100
100