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REGISTERED NUMBER: 04306942 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

G R D Electrical Contractors Limited

G R D Electrical Contractors Limited (Registered number: 04306942)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


G R D Electrical Contractors Limited (Registered number: 04306942)

Balance Sheet
31 October 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 5 75,231 56,819

Current assets
Stocks 73,863 47,295
Debtors 6 301,625 469,279
Cash at bank and in hand 92,567 112,387
468,055 628,961
Creditors
Amounts falling due within one year 7 (235,474 ) (356,138 )
Net current assets 232,581 272,823
Total assets less current liabilities 307,812 329,642

Creditors
Amounts falling due after more than one
year

8

(22,420

)

(43,734

)

Provisions for liabilities (18,808 ) -
Net assets 266,584 285,908

Capital and reserves
Called up share capital 100 100
Retained earnings 266,484 285,808
266,584 285,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

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 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.

G R D Electrical Contractors Limited (Registered number: 04306942)

Balance Sheet - continued
31 October 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Mr G R Di-Corpo - Director


G R D Electrical Contractors Limited (Registered number: 04306942)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

G R D Electrical Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04306942

Registered office: The Depot
Market Gates
Great Yarmouth
Norfolk
NR30 2BG

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related parties
The company has taken advantage of exemption not to disclose transactions undertaken between group companies.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover 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
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

G R D Electrical Contractors Limited (Registered number: 04306942)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


G R D Electrical Contractors Limited (Registered number: 04306942)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets held under hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

The hire purchase agreements are secured over the asset to which they relate.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

5. Tangible fixed assets
Plant and
machinery
£
Cost
At 1 November 2022 162,356
Additions 45,550
Disposals (31,303 )
At 31 October 2023 176,603
Depreciation
At 1 November 2022 105,537
Charge for year 12,677
Eliminated on disposal (16,842 )
At 31 October 2023 101,372
Net book value
At 31 October 2023 75,231
At 31 October 2022 56,819

G R D Electrical Contractors Limited (Registered number: 04306942)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 118,894 315,747
Amounts owed by group undertakings 162,944 145,396
Other debtors 19,787 8,136
301,625 469,279

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 9,928 9,843
Hire purchase contracts 11,418 10,681
Trade creditors 22,022 64,507
Amounts owed to group undertakings 169,933 209,693
Taxation and social security 19,301 58,538
Other creditors 2,872 2,876
235,474 356,138

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 17,433 27,328
Hire purchase contracts 4,987 16,406
22,420 43,734