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REGISTERED NUMBER: 07654104 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Granular IT Ltd

Granular IT Ltd (Registered number: 07654104)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Granular IT Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Hasheem Noorali Maloo
Mr Vishal Shah





SECRETARY: Mrs Jamila Hasheem Maloo





REGISTERED OFFICE: 5-6 Underhill Street
Camden
London
NW1 7HS





REGISTERED NUMBER: 07654104 (England and Wales)

Granular IT Ltd (Registered number: 07654104)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 233
- 233

CURRENT ASSETS
Debtors 5 30,158 14,413
Cash at bank 36,464 26,643
66,622 41,056
CREDITORS
Amounts falling due within one year 6 75,919 61,736
NET CURRENT LIABILITIES (9,297 ) (20,680 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,297

)

(20,447

)

PROVISIONS FOR LIABILITIES - 44
NET LIABILITIES (9,297 ) (20,491 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (9,497 ) (20,691 )
SHAREHOLDERS' FUNDS (9,297 ) (20,491 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Granular IT Ltd (Registered number: 07654104)

Statement of Financial Position - continued
30 June 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 Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





Mr Hasheem Noorali Maloo - Director


Granular IT Ltd (Registered number: 07654104)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Granular IT Ltd 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.

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 etc - 25% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 4 (2023 - 5 ) .

Granular IT Ltd (Registered number: 07654104)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 10,313
DEPRECIATION
At 1 July 2023 10,080
Charge for year 233
At 30 June 2024 10,313
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 233

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 29,888 14,413
Other debtors 270 -
30,158 14,413

During the year ended 30 April 2024, Granular IT Ltd has provided interest free loan of £270 to Granular IT Kenya Ltd. This loans is repayable on demand, hence the amount is being reflected accordingly under Debtors falling due within one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts (1,533 ) (1,090 )
Taxation and social security 13,767 12,556
Other creditors 63,685 50,270
75,919 61,736

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 30 June 2024, Granular IT Ltd owed £63,110 to its director. This amount is reflected in the director`s loan accounts in credit balance, which is shown as part of Other Creditors under Creditors due within one year. Please be advised that the director has agreed to provide this loan on an interest free basis and the loan is repayable on demand.


8. RELATED PARTY DISCLOSURES

During the year ended 30 June 2024, Granular IT Ltd received outsourcing services of £98,413 from a related company. These services were provided on commercial terms and were charged at fair value, being transaction done at arm's length.