Silverfin false false 31/08/2023 18/08/2022 31/08/2023 K O K Komolafe 18/08/2022 15 April 2024 The principal activity of the Company during the financial period was that of management consultancy activities. The Company incorporated on 18 August 2022 and the commenced trading on 27 September 2022. SC741704 2023-08-31 SC741704 bus:Director1 2023-08-31 SC741704 core:CurrentFinancialInstruments 2023-08-31 SC741704 core:ShareCapital 2023-08-31 SC741704 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC741704 bus:OrdinaryShareClass1 2023-08-31 SC741704 2022-08-18 2023-08-31 SC741704 bus:FilletedAccounts 2022-08-18 2023-08-31 SC741704 bus:SmallEntities 2022-08-18 2023-08-31 SC741704 bus:AuditExemptWithAccountantsReport 2022-08-18 2023-08-31 SC741704 bus:PrivateLimitedCompanyLtd 2022-08-18 2023-08-31 SC741704 bus:Director1 2022-08-18 2023-08-31 SC741704 bus:OrdinaryShareClass1 2022-08-18 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC741704 (Scotland)

GRANTON CONSULTING LTD

Unaudited Financial Statements
For the financial period from 18 August 2022 to 31 August 2023
Pages for filing with the registrar

GRANTON CONSULTING LTD

Unaudited Financial Statements

For the financial period from 18 August 2022 to 31 August 2023

Contents

GRANTON CONSULTING LTD

BALANCE SHEET

As at 31 August 2023
GRANTON CONSULTING LTD

BALANCE SHEET (continued)

As at 31 August 2023
31.08.2023
£
Current assets
Debtors 4 34,076
Cash at bank and in hand 19,867
53,943
Creditors: amounts falling due within one year 5 ( 20,431)
Net current assets 33,512
Total assets less current liabilities 33,512
Net assets 33,512
Capital and reserves
Called-up share capital 6 1
Profit and loss account 33,511
Total shareholder's funds 33,512

For the financial period ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Granton Consulting Ltd (registered number: SC741704) were approved and authorised for issue by the Director on 15 April 2024. They were signed on its behalf by:

K O K Komolafe
Director
GRANTON CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 August 2022 to 31 August 2023
GRANTON CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 August 2022 to 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Granton Consulting Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 26b West Harbour Road, Edinburgh, EH5 1PN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These financial statements cover the period from incorporation, 18 August 2022, to 31 August 2023.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are used in determining the useful life of tangible assets and the recoverability of debtors.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

Period from
18.08.2022 to
31.08.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 1

4. Debtors

31.08.2023
£
Trade debtors 2,750
Other debtors 31,326
34,076

5. Creditors: amounts falling due within one year

31.08.2023
£
Taxation and social security 16,507
Other creditors 3,924
20,431

6. Called-up share capital

31.08.2023
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

During the period, 1 Ordinary share was issued having nominal value of £1 at par for cash consideration.

7. Related party transactions

Transactions with the entity's director

31.08.2023
£
Directors Loan Account 24,079

During the year, the company made advances to the director totalling £30,800 and received repayment totalling £6,721.

The loan to the director is unsecured and repayable on demand.