2023-07-012024-06-302024-06-30false09126072GREATDRAMS 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GREATDRAMS LIMITED

Registered Number
09126072
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

GREATDRAMS LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

G Dillon
K Dillon

Registered Address

Brook House Park Lane
Poynton
Stockport
SK12 1RG

Registered Number

09126072 (England and Wales)
GREATDRAMS LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,4016,264
4,4016,264
Current assets
Debtors81,48772,383
Cash at bank and on hand100,80055,964
182,287128,347
Creditors amounts falling due within one year4(179,321)(66,471)
Net current assets (liabilities)2,96661,876
Total assets less current liabilities7,36768,140
Net assets7,36768,140
Capital and reserves
Called up share capital1,1001,100
Profit and loss account6,26767,040
Shareholders' funds7,36768,140
The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2024, and are signed on its behalf by:
G Dillon
Director
Registered Company No. 09126072
GREATDRAMS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 July 2311,4687,76619,234
At 30 June 2411,4687,76619,234
Depreciation and impairment
At 01 July 236,8816,08912,970
Charge for year1,1477161,863
At 30 June 248,0286,80514,833
Net book value
At 30 June 243,4409614,401
At 30 June 234,5871,6776,264
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts-160
Taxation and social security7,4836,577
Other creditors171,83859,734
Total179,32166,471
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.