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REGISTERED NUMBER: 07554252 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Grandfort Limited

Grandfort Limited (Registered number: 07554252)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grandfort Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr G Astell
Mrs K Astell





REGISTERED OFFICE: The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR





REGISTERED NUMBER: 07554252 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Grandfort Limited (Registered number: 07554252)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,997 17,994
Tangible assets 5 26,928 20,622
35,925 38,616

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 6 44,194 86,884
Cash at bank 173,293 109,074
224,987 203,458
CREDITORS
Amounts falling due within one year 7 142,803 148,044
NET CURRENT ASSETS 82,184 55,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,109

94,030

CREDITORS
Amounts falling due after more than one year 8 (57,726 ) (57,242 )

PROVISIONS FOR LIABILITIES 9 (5,116 ) (4,125 )
NET ASSETS 55,267 32,663

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 55,167 32,563
SHAREHOLDERS' FUNDS 55,267 32,663

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Grandfort Limited (Registered number: 07554252)

Balance Sheet - continued
31 March 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 23 October 2023 and were signed on its behalf by:





Mr G Astell - Director


Grandfort Limited (Registered number: 07554252)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Grandfort Limited 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Grandfort Limited (Registered number: 07554252)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
fees
£   
COST
At 1 April 2022 55,856
Disposals (40,861 )
At 31 March 2023 14,995
AMORTISATION
At 1 April 2022 37,862
Amortisation for year 2,999
Eliminated on disposal (34,863 )
At 31 March 2023 5,998
NET BOOK VALUE
At 31 March 2023 8,997
At 31 March 2022 17,994

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 2,253 3,911 26,828 3,373 36,365
Additions - - 55,993 958 56,951
Disposals (2,253 ) - (48,079 ) - (50,332 )
At 31 March 2023 - 3,911 34,742 4,331 42,984
DEPRECIATION
At 1 April 2022 2,253 3,911 6,707 2,872 15,743
Charge for year - - 8,685 588 9,273
Eliminated on disposal (2,253 ) - (6,707 ) - (8,960 )
At 31 March 2023 - 3,911 8,685 3,460 16,056
NET BOOK VALUE
At 31 March 2023 - - 26,057 871 26,928
At 31 March 2022 - - 20,121 501 20,622

Grandfort Limited (Registered number: 07554252)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 44,194 86,834
Other debtors - 50
44,194 86,884

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 12,066 5,848
Hire purchase contracts 4,084 3,688
Trade creditors 22,062 14,617
Tax 21,038 12,943
Social security and other taxes - 278
VAT 18,623 28,146
Directors' current accounts 62,773 80,259
Accrued expenses 2,157 2,265
142,803 148,044

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 4,500 4,500
Bank loans - 2-5 years 7,195 12,047
Hire purchase contracts 26,031 20,695
Directors loan 20,000 20,000
57,726 57,242

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 5,116 4,125

Deferred
tax
£   
Balance at 1 April 2022 4,125
Accelerated capital allowances 991
Balance at 31 March 2023 5,116

Grandfort Limited (Registered number: 07554252)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2022 32,563
Profit for the year 102,604
Dividends (80,000 )
At 31 March 2023 55,167

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 (2022 - £80,000) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

No one party has ultimate control.