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REGISTERED NUMBER: 07284176 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Grate Interiors Limited

Grate Interiors Limited (Registered number: 07284176)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Grate Interiors Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: G Charman





REGISTERED OFFICE: 29 Creek Road
Hayling Island
Hampshire
PO11 9QZ





REGISTERED NUMBER: 07284176 (England and Wales)





ACCOUNTANTS: Moss & Co (Direct Accounts) Limited
Rapley House
29 Creek Road
Hayling Island
Hampshire
PO11 9QZ

Grate Interiors Limited (Registered number: 07284176)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,200 4,000
3,200 4,000

CURRENT ASSETS
Stocks 2,200 3,350
Debtors 6 978 5,672
Cash at bank 4,321 5,544
7,499 14,566
CREDITORS
Amounts falling due within one year 7 59,392 70,566
NET CURRENT LIABILITIES (51,893 ) (56,000 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(48,693

)

(52,000

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (48,694 ) (52,001 )
SHAREHOLDERS' FUNDS (48,693 ) (52,000 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Grate Interiors Limited (Registered number: 07284176)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 August 2024 and were signed by:





G Charman - Director


Grate Interiors Limited (Registered number: 07284176)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Grate Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor van - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Grate Interiors Limited (Registered number: 07284176)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023
and 31 May 2024 10,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Grate Interiors Limited (Registered number: 07284176)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Motor van Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 3,809 1,254 15,889 20,952
DEPRECIATION
At 1 June 2023 2,561 1,168 13,223 16,952
Charge for year 250 17 533 800
At 31 May 2024 2,811 1,185 13,756 17,752
NET BOOK VALUE
At 31 May 2024 998 69 2,133 3,200
At 31 May 2023 1,248 86 2,666 4,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 5,672
Other debtors 978 -
978 5,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 59,392 70,566

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 June 2023 (52,001 )
Profit for the year 3,307
At 31 May 2024 (48,694 )

Grate Interiors Limited (Registered number: 07284176)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Charman.

11. GOING CONCERN

The accounts have been prepared on a going concern basis. The company earned a profit of £3,307 (2023 - £32) in the year ended 31st May 2024 and there is a deficit on shareholders' funds of £48,693 (2023 - £52,000) at the year end date. The director is hopeful that the company will continue its profitability in the foreseeable future and has undertaken to support it until the deficit in shareholders funds is cleared. There is a balance owed to directors of £58,810 included in short term creditors of £59,392 at 31st May 2024..

Grate Interiors Limited

Report of the Accountants to the Director of
Grate Interiors Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Moss & Co (Direct Accounts) Limited
Rapley House
29 Creek Road
Hayling Island
Hampshire
PO11 9QZ


6 August 2024