Registered number
04878199
Grafton Gale Limited
Unaudited Filleted Accounts
31 August 2023
Grafton Gale Limited
Registered number: 04878199
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 72,009 80,099
Current assets
Debtors 4 267,399 322,628
Cash at bank and in hand 48,382 41,672
315,781 364,300
Creditors: amounts falling due within one year 5 (85,387) (138,133)
Net current assets 230,394 226,167
Net assets 302,403 306,266
Capital and reserves
Called up share capital 4 4
Revaluation reserve 6 45,000 45,000
Profit and loss account 257,399 261,262
Shareholder's funds 302,403 306,266
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Northover
Director
Approved by the board on 7 March 2024
Grafton Gale Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not depreciated as value consistent
Plant and machinery 20% Reducing balance
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 50,000 19,352 35,991 105,343
Additions - 562 - 562
At 31 August 2023 50,000 19,914 35,991 105,905
Depreciation
At 1 September 2022 - 12,647 12,597 25,244
Charge for the year - 1,454 7,198 8,652
At 31 August 2023 - 14,101 19,795 33,896
Net book value
At 31 August 2023 50,000 5,813 16,196 72,009
At 31 August 2022 50,000 6,705 23,394 80,099
Freehold land and buildings: 2023 2022
£ £
Historical cost 5,000 5,000
Cumulative depreciation based on historical cost - -
5,000 5,000
4 Debtors 2023 2022
£ £
Trade debtors 76,244 146,973
Amounts owed by group undertakings and undertakings in which the company has a participating interest 191,155 175,655
267,399 322,628
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 67,758 108,559
Taxation and social security costs 14,415 10,731
Other creditors 3,214 18,843
85,387 138,133
6 Revaluation reserve 2023 2022
£ £
At 1 September 2022 45,000 45,000
At 31 August 2023 45,000 45,000
7 Related party transactions 2023 2022
£ £
Loan to company in which the directors 191,155 175,655
have an interest
8 Other information
Grafton Gale Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Cottonwood
Aigburth
Liverpool
Merseyside
L17 7ES
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