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REGISTERED NUMBER: 07648374 (England and Wales)















Grandisson Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






Grandisson Limited (Registered number: 07648374)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grandisson Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M J Cookman
M Taylor





REGISTERED OFFICE: 26 - 28 Finnimore Industrial Estate
Ottery St Mary
Devon
EX11 1NR





REGISTERED NUMBER: 07648374 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
1A Parliament Square
Parliament Street
Crediton
Devon
EX17 2AW

Grandisson Limited (Registered number: 07648374)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 100,557 80,296
100,557 80,296

CURRENT ASSETS
Stocks 89,393 58,749
Debtors 7 13,429 8,212
Cash at bank and in hand 243,818 197,053
346,640 264,014
CREDITORS
Amounts falling due within one year 8 (163,740 ) (108,882 )
NET CURRENT ASSETS 182,900 155,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,457

235,428

CREDITORS
Amounts falling due after more than one
year

9

(49,527

)

(29,014

)

PROVISIONS FOR LIABILITIES (22,685 ) (15,087 )
NET ASSETS 211,245 191,327

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 211,145 191,227
SHAREHOLDERS' FUNDS 211,245 191,327

Grandisson Limited (Registered number: 07648374)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 13 February 2024 and were signed on its behalf by:





M J Cookman - Director


Grandisson Limited (Registered number: 07648374)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Grandisson 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers falling within the company's ordinary activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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.
Short leasehold improvements - 20% reducing balance
Plant and machinery - 20% reducing balance
Fixtures and equipment - 20% reducing balance
Motor vehicles - 25% reducing balance

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Grandisson Limited (Registered number: 07648374)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. ACCOUNTING POLICIES - continued
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

Grandisson Limited (Registered number: 07648374)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 250,000
AMORTISATION
At 1 July 2022
and 30 June 2023 250,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

6. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold Plant and and Motor
improvements machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 5,097 5,542 18,719 105,855 135,213
Additions - - 1,868 42,521 44,389
Disposals - - - (31,796 ) (31,796 )
At 30 June 2023 5,097 5,542 20,587 116,580 147,806
DEPRECIATION
At 1 July 2022 4,659 3,483 13,725 33,050 54,917
Charge for year 87 412 1,185 17,969 19,653
Eliminated on disposal - - - (27,321 ) (27,321 )
At 30 June 2023 4,746 3,895 14,910 23,698 47,249
NET BOOK VALUE
At 30 June 2023 351 1,647 5,677 92,882 100,557
At 30 June 2022 438 2,059 4,994 72,805 80,296

Grandisson Limited (Registered number: 07648374)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 42,520
At 30 June 2023 42,520
DEPRECIATION
Charge for year 886
At 30 June 2023 886
NET BOOK VALUE
At 30 June 2023 41,634

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 4,657 -
Prepayments and accrued income 8,772 8,212
13,429 8,212

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,038 10,150
Hire purchase contracts 2,050 -
Trade creditors 63,953 41,833
Corporation tax 27,191 17,407
Social security and other taxes 2,425 2,659
Pension 582 430
VAT - 604
Other creditors 25,591 26,199
Shareholder loan account 7,367 -
Wages & salaries control 56 56
Directors' current accounts 1,780 6,994
Accruals and deferred income 22,707 2,550
163,740 108,882

Grandisson Limited (Registered number: 07648374)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,292 10,458
Bank loans - 2-5 years 8,827 18,556
Hire purchase contracts 30,408 -
49,527 29,014

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 32,458 -

Hire purchase liabilities are secured over the asset to which the liability relates.