Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3132023-02-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09406136 2023-02-01 2024-01-31 09406136 2022-02-01 2023-01-31 09406136 2024-01-31 09406136 2023-01-31 09406136 c:Director1 2023-02-01 2024-01-31 09406136 d:PlantMachinery 2023-02-01 2024-01-31 09406136 d:PlantMachinery 2024-01-31 09406136 d:PlantMachinery 2023-01-31 09406136 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09406136 d:FurnitureFittings 2023-02-01 2024-01-31 09406136 d:FurnitureFittings 2024-01-31 09406136 d:FurnitureFittings 2023-01-31 09406136 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09406136 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09406136 d:CurrentFinancialInstruments 2024-01-31 09406136 d:CurrentFinancialInstruments 2023-01-31 09406136 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09406136 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09406136 d:ShareCapital 2024-01-31 09406136 d:ShareCapital 2023-01-31 09406136 d:RetainedEarningsAccumulatedLosses 2024-01-31 09406136 d:RetainedEarningsAccumulatedLosses 2023-01-31 09406136 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 09406136 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 09406136 c:FRS102 2023-02-01 2024-01-31 09406136 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09406136 c:FullAccounts 2023-02-01 2024-01-31 09406136 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09406136 2 2023-02-01 2024-01-31 09406136 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 09406136









GRITSTONE CROSSFIT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
GRITSTONE CROSSFIT LIMITED
REGISTERED NUMBER: 09406136

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,203
7,619

  
4,203
7,619

Current assets
  

Debtors: amounts falling due within one year
 5 
10
1,340

Cash at bank and in hand
 6 
31,208
18,507

  
31,218
19,847

Creditors: amounts falling due within one year
 7 
(11,395)
(16,652)

Net current assets
  
 
 
19,823
 
 
3,195

Total assets less current liabilities
  
24,026
10,814

  

Net assets
  
24,026
10,814


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
23,926
10,714

  
24,026
10,814


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Page 1

 
GRITSTONE CROSSFIT LIMITED
REGISTERED NUMBER: 09406136
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

Richard Hill
Director

Date: 31 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Gritstone Crossfit Limited (company number 09406136) is a private company limited by shares, registered in England and Wales. Its registered office is at Bushbury House, 435 Wilmslow Road, Withington, Manchester, M20 4AF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line
Fixtures and fittings
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
Page 5

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.11

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.

Page 6

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

2024
2023
£
£

Wages and salaries
23,665
20,884

23,665
20,884


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2023
62,342
1,197
63,539


Additions
862
-
862



At 31 January 2024

63,204
1,197
64,401



Depreciation


At 1 February 2023
54,796
1,124
55,920


Charge for the year on owned assets
4,205
73
4,278



At 31 January 2024

59,001
1,197
60,198



Net book value



At 31 January 2024
4,203
-
4,203



At 31 January 2023
7,546
73
7,619


5.


Debtors

2024
2023
£
£


Other debtors
-
1,330

Called up share capital not paid
10
10

10
1,340

Page 7

 
GRITSTONE CROSSFIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.Debtors (continued)



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
31,208
18,507

31,208
18,507



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
3,161
-

Other taxation and social security
948
-

Other creditors
6,086
14,963

Accruals and deferred income
1,200
1,689

11,395
16,652



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
31,208
18,507




Financial assets measured at fair value through profit or loss comprise cash at bank.


9.


Related party transactions

At 31 January 2024 company owed £6,086 (2022: £14,963) to the director. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within on year. 

 
Page 8