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Registered number: 11300038
Gramos Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
djca Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Gramos Ltd For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Gramos Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Gramos Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gramos Ltd and state those matters that we have agreed to state to the director of Gramos Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gramos Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Gramos Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Gramos Ltd . You consider that Gramos Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gramos Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Robert Fiford FCCA
05/08/2024
djca Limited
ACCA
154-160 Fleet Street
London
EC4A 2DQ
Page 1
Page 2
Balance Sheet
Registered number: 11300038
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,759 32,863
35,759 32,863
CURRENT ASSETS
Stocks 5 1,348 1,519
Debtors 6 28,599 24,970
Cash at bank and in hand 14,066 13,707
44,013 40,196
Creditors: Amounts Falling Due Within One Year 7 (77,574 ) (77,251 )
NET CURRENT ASSETS (LIABILITIES) (33,561 ) (37,055 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,198 (4,192 )
Creditors: Amounts Falling Due After More Than One Year 8 (31,394 ) (51,621 )
NET LIABILITIES (29,196 ) (55,813 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (29,296 ) (55,913 )
SHAREHOLDERS' FUNDS (29,196) (55,813)
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Sirpa Limachi
Director
04/08/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Gramos Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11300038 . The registered office is 170 Hedge Lane, London, N13 5DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 15% Straightline
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 24,178 30,127 2,520 56,825
Additions 9,362 1,024 167 10,553
As at 31 March 2024 33,540 31,151 2,687 67,378
Depreciation
As at 1 April 2023 12,450 9,963 1,549 23,962
Provided during the period 2,803 4,588 266 7,657
As at 31 March 2024 15,253 14,551 1,815 31,619
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 18,287 16,600 872 35,759
As at 1 April 2023 11,728 20,164 971 32,863
5. Stocks
2024 2023
£ £
Stock 1,348 1,519
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 224 -
Prepayments and accrued income 11,466 10,886
Other debtors 16,909 14,084
28,599 24,970
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,766 13,802
Bank loans and overdrafts 20,228 20,034
Other taxes and social security 2,361 932
VAT 5,957 5,201
Other creditors 2,193 6,504
Accruals and deferred income 1,427 12,500
Director's loan account 21,642 18,278
77,574 77,251
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 31,394 51,621
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 60,000 60,000
Later than one year and not later than five years 97,479 160,000
157,479 220,000
Page 6