Registered Number:SC450251 |
For the year ended 31 October 2023
Scotland
Unaudited Financial Statements
For the year ended 31 October 2023
Granfab Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Granfab Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
103,378
29,020
2
103,378
29,020
10,521
7,554
3
Trade and other receivables |
274,713
204,275
4
36,115
Cash and cash equivalents |
153,488
365,317
321,349
Trade and other payables: amounts falling due within one year |
(200,235)
(194,565)
5
121,114
170,752
Net current assets
Total assets less current liabilities |
274,130
150,134
274,130
Net assets
150,134
274,130
150,134
274,130
150,134
Shareholders' funds
For the year ended 31 October 2023 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 of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 17 June 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 October 2023
Granfab Limited
Notes to the Financial Statements
Statutory Information
Granfab Limited is a private limited company, limited by shares, domiciled in Scotland, registration number SC450251. |
Grangmouth Road
Bo'Ness
EH51 0PZ
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard |
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The |
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Computer equipment
Motor vehicles
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
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For the year ended 31 October 2023
Granfab Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor vehicles
82,723
190
2,383
46,928
33,222
81,197
-
745
79,855
597
126,783
3,128
190
163,920
33,819
Provision for depreciation and impairment |
53,703
189
1,201
33,609
18,704
Charge for year
6,839
-
289
3,527
3,023
60,542
189
1,490
37,136
21,727
12,092
89,647
1,638
1
103,378
14,518
13,319
1,182
1
29,020
2022
2023
7,554
10,521
4. Trade and other receivables |
2022
2023
193,372
263,810
10,903
10,903
274,713
204,275
5. Trade and other payables: amounts falling due within one year |
2022
2023
93,936
111,682
Taxation and social security |
90,148
79,169
10,481
9,384
194,565
200,235
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For the year ended 31 October 2023
Granfab Limited
Notes to the Financial Statements Continued
6. Average number of persons employed |
During the year the average number of employees was 11 (2022 : 11)
4 of 4