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REGISTERED NUMBER: 07448050 (England and Wales)













Financial Statements

For The Year Ended 31 March 2024

for

D Grant Engineering Limited

D Grant Engineering Limited (Registered number: 07448050)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D Grant Engineering Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: D I Grant



SECRETARY: R Grant



REGISTERED OFFICE: Newtoft Business Park
Newtoft
MARKET RASEN
Lincolnshire
LN8 3NG



REGISTERED NUMBER: 07448050 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ

D Grant Engineering Limited (Registered number: 07448050)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,613 73,076

CURRENT ASSETS
Stocks 17,775 43,461
Debtors 5 152,962 93,463
Cash at bank 342,059 426,065
512,796 562,989
CREDITORS
Amounts falling due within one year 6 79,394 86,536
NET CURRENT ASSETS 433,402 476,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,015

549,529

PROVISIONS FOR LIABILITIES 19,457 18,011
NET ASSETS 491,558 531,518

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 491,557 531,517
SHAREHOLDERS' FUNDS 491,558 531,518

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

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

D Grant Engineering Limited (Registered number: 07448050)

Statement of Financial Position - continued
31 March 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 29 July 2024 and were signed by:





D I Grant - Director


D Grant Engineering Limited (Registered number: 07448050)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

D Grant Engineering 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.

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 - 15% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% 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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank is classified as a basic financial instrument and is measured at transaction price.
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.


D Grant Engineering Limited (Registered number: 07448050)

Notes to the Financial Statements - continued
For The Year Ended 31 March 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rents received
Rental income from operating leases is recognised in profit or loss on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 251,688 5,996 39,157 296,841
Additions 14,549 1,932 - 16,481
At 31 March 2024 266,237 7,928 39,157 313,322
DEPRECIATION
At 1 April 2023 181,589 5,996 36,180 223,765
Charge for year 10,916 284 744 11,944
At 31 March 2024 192,505 6,280 36,924 235,709
NET BOOK VALUE
At 31 March 2024 73,732 1,648 2,233 77,613
At 31 March 2023 70,099 - 2,977 73,076

D Grant Engineering Limited (Registered number: 07448050)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,102 81,390
Directors' current accounts - 32
Tax 7,009 -
Prepayments 12,851 12,041
152,962 93,463

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 33,748 22,856
Tax - 31,745
Social security and other taxes 7,135 7,031
VAT 23,148 20,999
Other creditors 75 -
Directors' current accounts 11,506 -
Accrued expenses 3,782 3,905
79,394 86,536

7. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 58,655 -

The company has paid a deposit for a vehicle due to be delivered November 2024.

8. OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments of £40,000 (2023 £60,000).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
D I Grant
Balance outstanding at start of year 32 -
Amounts advanced - 8,127
Amounts repaid (32 ) (8,095 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 32

D Grant Engineering Limited (Registered number: 07448050)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Directors' advances are unsecured and interest free.

10. RELATED PARTY DISCLOSURES

Included within creditors is a Directors' loan account balance owed to D I Grant totalling £11,506 (2023: £NIL). This loan is provided interest free and is unsecured.