Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 13024297 Mr Lee Brennan Mr Duncan Ryalls Mr Cameron Ryalls iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13024297 2023-03-31 13024297 2024-03-31 13024297 2023-04-01 2024-03-31 13024297 frs-core:CurrentFinancialInstruments 2024-03-31 13024297 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 13024297 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 13024297 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 13024297 frs-core:PlantMachinery 2024-03-31 13024297 frs-core:PlantMachinery 2023-04-01 2024-03-31 13024297 frs-core:PlantMachinery 2023-03-31 13024297 frs-core:ShareCapital 2024-03-31 13024297 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13024297 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13024297 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 13024297 frs-bus:SmallEntities 2023-04-01 2024-03-31 13024297 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13024297 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13024297 frs-bus:Director1 2023-04-01 2024-03-31 13024297 frs-bus:Director2 2023-04-01 2024-03-31 13024297 frs-bus:Director3 2023-04-01 2024-03-31 13024297 frs-countries:EnglandWales 2023-04-01 2024-03-31 13024297 2022-03-31 13024297 2023-03-31 13024297 2022-04-01 2023-03-31 13024297 frs-core:CurrentFinancialInstruments 2023-03-31 13024297 frs-core:ShareCapital 2023-03-31 13024297 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 13024297
GRAIN SILO LTD
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13024297
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 114,368 97,452
114,368 97,452
CURRENT ASSETS
Stocks 5 19,250 21,721
Debtors 6 72,522 71,961
Cash at bank and in hand 30,463 84,449
122,235 178,131
Creditors: Amounts Falling Due Within One Year 7 (54,345 ) (61,394 )
NET CURRENT ASSETS (LIABILITIES) 67,890 116,737
TOTAL ASSETS LESS CURRENT LIABILITIES 182,258 214,189
NET ASSETS 182,258 214,189
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 182,158 214,089
SHAREHOLDERS' FUNDS 182,258 214,189
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For the year ending 31 March 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lee Brennan
Director
Mr Duncan Ryalls
Director
Mr Cameron Ryalls
Director
16/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GRAIN SILO LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13024297 . The registered office is 48 Handbridge Square, Chester, CH1 4GR.

The company was incorporated on the November 16th, 2020 and commenced to trade on July 19th, 2021.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% on Cost
Plant & Machinery 20% on Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 17)
15 17
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 17,708 119,532 137,240
Additions 27,919 16,441 44,360
As at 31 March 2024 45,627 135,973 181,600
Depreciation
As at 1 April 2023 6,196 33,592 39,788
Provided during the period 3,540 23,904 27,444
As at 31 March 2024 9,736 57,496 67,232
Net Book Value
As at 31 March 2024 35,891 78,477 114,368
As at 1 April 2023 11,512 85,940 97,452
5. Stocks
2024 2023
£ £
Stock 19,250 21,721
6. Debtors
2024 2023
£ £
Due within one year
Directors' Current Account 53,290 40,281
Other Debtors and Prepayments 5,751 28,717
Corporation tax recoverable assets 13,481 2,963
72,522 71,961
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,406 11,111
Corporation tax 2,714 8,261
P A Y E 3,772 4,997
V A T 11,534 20,541
Other Creditors and Accruals 15,694 13,459
Directors' loan accounts 4,225 3,025
54,345 61,394
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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