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REGISTERED NUMBER: 10905111 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

GRIDLINE FLOORING LTD

GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRIDLINE FLOORING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: B Gardner
D Storey





SECRETARY:





REGISTERED OFFICE: Unit 4
Bankside Park Industrial Estate
28 Thames Road
Barking
Essex
IG11 0HZ





REGISTERED NUMBER: 10905111 (England and Wales)





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,726 33,242

CURRENT ASSETS
Debtors 5 1,012,054 627,574
Cash at bank and in hand 157,485 298,396
1,169,539 925,970
CREDITORS
Amounts falling due within one year 6 460,667 364,630
NET CURRENT ASSETS 708,872 561,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,598

594,582

CREDITORS
Amounts falling due after more than one
year

7

14,493

23,152
NET ASSETS 738,105 571,430

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 738,005 571,330
SHAREHOLDERS' FUNDS 738,105 571,430

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 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.

GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)

BALANCE SHEET - continued
31 AUGUST 2023


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 9 October 2023 and were signed on its behalf by:





B Gardner - Director


GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Gridline Flooring Ltd 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 5 ).

GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 7,950 60,794 4,539 73,283
Additions - 13,995 12,195 26,190
At 31 August 2023 7,950 74,789 16,734 99,473
DEPRECIATION
At 1 September 2022 2,475 34,476 3,090 40,041
Charge for year 1,369 5,363 4,259 10,991
Impairments - 4,715 - 4,715
At 31 August 2023 3,844 44,554 7,349 55,747
NET BOOK VALUE
At 31 August 2023 4,106 30,235 9,385 43,726
At 31 August 2022 5,475 26,318 1,449 33,242

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022
and 31 August 2023 52,708
DEPRECIATION
At 1 September 2022 30,473
Impairments 4,715
Transfer to ownership (4,625 )
At 31 August 2023 30,563
NET BOOK VALUE
At 31 August 2023 22,145
At 31 August 2022 22,235

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 291,782 192,326
Amounts owed by group undertakings 674,581 385,921
Other debtors 9,500 9,500
VAT 36,191 39,827
1,012,054 627,574

GRIDLINE FLOORING LTD (REGISTERED NUMBER: 10905111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 272,096 183,055
Tax 117,482 93,743
Social security and other taxes 68,089 84,754
Directors' current accounts - 578
Accruals and deferred income 3,000 2,500
460,667 364,630

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 14,493 23,152