6290409falseretail of hydroponic equipment2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2022-06-30http://www.companieshouse.gov.uk/cd:Director12022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-06-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2022-06-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-06-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-06-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-07-012023-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:NetGoodwill2023-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/pt:NetGoodwill2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:FRS1022022-07-012023-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:LandBuildings2022-06-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:LandBuildings2023-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 6290409

Grotec UK Ltd

FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30/06/2023

Prepared By:
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

Grotec UK Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30/06/2023
DIRECTORS
Mr K.S. Khan
SECRETARY
Mrs S Khan
REGISTERED OFFICE
393 Manchester Old Road
Rochdale
Lancashire
OL11 3PG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 6290409
ACCOUNTANTS
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

Grotec UK Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THEYEARENDED30/06/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Grotec UK Ltd

BALANCE SHEET AT 30/06/2023
20232022
Notes££
FIXED ASSETS
Tangible assets4181,113181,889
CURRENT ASSETS
Stock424,620247,600
Debtors6144,45888,317
Cash at bank and in hand727,387900,425
1,296,4651,236,342
CREDITORS: Amounts falling due within one year7493,513507,627
NET CURRENT ASSETS802,952728,715
TOTAL ASSETS LESS CURRENT LIABILITIES984,065910,604
PROVISIONS FOR LIABILITIES AND CHARGES88,5855,830
NET ASSETS975,480904,774
CAPITAL AND RESERVES
Called up share capital99999
Profit and loss account975,381904,675
SHAREHOLDERS' FUNDS975,480904,774
For the year ending 30/06/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28/03/2024 and signed on their behalf by
.............................
Mr K.S. Khan
Director

Grotec UK Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/06/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 20%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Grotec UK Ltd

1f. Goodwill
Goodwill is capitalised in accordance with FRS10.
Amortisation is calculated so as to write off the cost of the asset less its estimated residual value, over the useful economic life of that asset as follow:-
Amortisation of goodwill 10% straight line
1g. Government Grants
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement.
1h. Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
2. EMPLOYEES
20232022
No.No.
Average number of employees911
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/07/202234,00034,000
At 30/06/202334,00034,000
Depreciation
At 01/07/202234,00034,000
At 30/06/202334,00034,000
Net Book Amounts
At 30/06/2023--

Grotec UK Ltd

4. TANGIBLE FIXED ASSETS
Land AndCommercialFixtures
BuildingsVehiclesand FittingsEquipmentTotal
£££££
Cost
At 01/07/202276,658131,30320,536114,072342,569
Additions---29,99429,994
At 30/06/202376,658131,30320,536144,066372,563
Depreciation
At 01/07/2022-79,52016,05765,103160,680
For the year-10,35767219,74130,770
At 30/06/2023-89,87716,72984,844191,450
Net Book Amounts
At 30/06/202376,65841,4263,80759,222181,113
At 30/06/202276,65851,7834,47948,969181,889
5. STOCK 20232022
££
Stock comprises:
Stock424,620247,600
424,620247,600
6. DEBTORS 20232022
££
Amounts falling due within one year
VAT56,1212,442
Amounts due Techone Electronics Ltd85,29883,337
Prepayments3,0392,538
144,45888,317

Grotec UK Ltd

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax58,03054,149
PAYE control3,3806,477
Salaries and wages control-12,017
Pension Control account373575
Directors current account Mr R S Khan 43,0078,287
Shareholders current account S Khan25,0001,500
Shareholders current account K Khan32,3918,891
Trade creditors326,960411,481
Accruals4,3724,250
493,513507,627
8. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation8,5855,830
8,5855,830
9. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
99 Ordinary shares of £1 each9999
9999
10. CONTROLLING PARTY
The Company was controlled during the year by its sole director, togther with members of his close family, by virtue of the fact that they owned 100% of the issued share capital.