2022-11-01 SC450251 2023-10-31 SC450251 2022-11-01 2023-10-31 SC450251 2022-10-31 SC450251 2021-11-01 2022-10-31 SC450251 uk-core:WithinOneYear 2022-10-31 SC450251 uk-core:WithinOneYear 2023-10-31 SC450251 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC450251 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC450251 uk-bus:Director1 2022-11-01 2023-10-31 SC450251 uk-bus:Director2 2022-11-01 2023-10-31 SC450251 uk-core:PlantMachinery 2022-11-01 2023-10-31 SC450251 uk-core:ToolsEquipment 2022-11-01 2023-10-31 SC450251 uk-core:MotorVehicles 2022-11-01 2023-10-31 SC450251 uk-core:FurnitureFittings 2022-11-01 2023-10-31 SC450251 uk-core:ToolsEquipment 2022-10-31 SC450251 uk-core:FurnitureFittings 2022-10-31 SC450251 uk-core:MotorVehicles 2022-10-31 SC450251 uk-core:PlantMachinery 2022-10-31 SC450251 uk-core:MotorVehicles 2023-10-31 SC450251 uk-core:FurnitureFittings 2023-10-31 SC450251 uk-core:ToolsEquipment 2023-10-31 SC450251 uk-core:PlantMachinery 2023-10-31 iso4217:GBP xbrli:pure SC450251 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC450251 uk-bus:FRS102 2022-11-01 2023-10-31 SC450251 uk-bus:FilletedAccounts 2022-11-01 2023-10-31 SC450251 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31
Granfab Limited
Registered Number:SC450251
For the year ended 31 October 2023
Scotland
Unaudited Financial Statements
2
For the year ended 31 October 2023
Granfab Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
SC450251
As at 31 October 2023
Granfab Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
103,378
29,020
2
103,378
29,020
Current assets
Inventories
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
Capital and reserves
Retained earnings
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.
Mr Kevin Hope Director
Mr William Hope Director
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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4
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.
Registered address:
Grangmouth Road
Bo'Ness
EH51 0PZ
The presentation currency is £ sterling.
1. Accounting policies
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
20% Reducing balance
33% per annum on cost
Computer equipment
25% Reducing balance
Motor vehicles
15% Reducing balance
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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5
For the year ended 31 October 2023
Granfab Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
£
Cost or valuation
At 01 November 2022
82,723
190
2,383
46,928
33,222
81,197
-
745
79,855
597
Additions
At 31 October 2023
126,783
3,128
190
163,920
33,819
Provision for depreciation and impairment
At 01 November 2022
53,703
189
1,201
33,609
18,704
Charge for year
6,839
-
289
3,527
3,023
At 31 October 2023
60,542
189
1,490
37,136
21,727
At 31 October 2023
Net book value
12,092
89,647
1,638
1
103,378
At 31 October 2022
14,518
13,319
1,182
1
29,020
3. Inventories
2022
2023
£
£
Stocks
7,554
10,521
4. Trade and other receivables
2022
2023
£
£
Trade debtors
193,372
263,810
Other debtors
10,903
10,903
274,713
204,275
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
93,936
111,682
Taxation and social security
90,148
79,169
Other creditors
10,481
9,384
194,565
200,235
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6
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)
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