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REGISTERED NUMBER: 05942788 (England and Wales)















GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD (REGISTERED NUMBER: 05942788)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: W P Railton





SECRETARY: Mrs J Railton





REGISTERED OFFICE: Unit 4
The Old Malt House
Springfield Road
Grantham
Lincolnshire
NG31 7BG





REGISTERED NUMBER: 05942788 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD (REGISTERED NUMBER: 05942788)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 45,132 51,650

CURRENT ASSETS
Inventories 4,500 4,500
Debtors 5 82,435 88,429
Cash at bank and in hand 203,285 151,724
290,220 244,653
CREDITORS
Amounts falling due within one year 6 72,764 79,375
NET CURRENT ASSETS 217,456 165,278
TOTAL ASSETS LESS CURRENT LIABILITIES 262,588 216,928

PROVISIONS FOR LIABILITIES 11,226 12,878
NET ASSETS 251,362 204,050

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 251,360 204,048
SHAREHOLDERS' FUNDS 251,362 204,050

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 February 2024 and were signed by:





W P Railton - Director


GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD (REGISTERED NUMBER: 05942788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Grantham Refrigeration and Air Conditioning 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.

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


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.

Revenue
Revenue 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.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.


GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD (REGISTERED NUMBER: 05942788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 October 2022 177,984
Additions 7,013
At 30 September 2023 184,997
DEPRECIATION
At 1 October 2022 126,334
Charge for year 13,531
At 30 September 2023 139,865
NET BOOK VALUE
At 30 September 2023 45,132
At 30 September 2022 51,650

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 44,344 76,147
Other debtors - 2,945
Prepayments 38,091 9,337
82,435 88,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 293 2,414
Taxation 22,024 18,222
Other taxes and social security 1,096 951
VAT 8,038 14,859
Other creditors 753 483
Directors' current accounts 38,220 40,366
Accrued expenses 2,340 2,080
72,764 79,375

GRANTHAM REFRIGERATION AND AIR
CONDITIONING LTD (REGISTERED NUMBER: 05942788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

8. OTHER FINANCIAL COMMITMENTS

20232022
££
Within one year9,0009,000
Between one and five years 7509,750
9,75018,750