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REGISTERED NUMBER: 06147603 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

GRIN LIMITED

GRIN LIMITED (REGISTERED NUMBER: 06147603)






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


GRIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: G J Miller





SECRETARY: G J Miller





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 06147603 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

GRIN LIMITED (REGISTERED NUMBER: 06147603)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,157 210,406

CURRENT ASSETS
Stocks 23,998 21,615
Debtors 5 59,649 28,551
Cash at bank and in hand 29,530 30,849
113,177 81,015
CREDITORS
Amounts falling due within one year 6 147,967 86,165
NET CURRENT LIABILITIES (34,790 ) (5,150 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,367

205,256

CREDITORS
Amounts falling due after more than one
year

7

(146,608

)

(167,823

)

PROVISIONS FOR LIABILITIES (36,281 ) (37,181 )
NET ASSETS 1,478 252

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,378 152
SHAREHOLDERS' FUNDS 1,478 252

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.

GRIN LIMITED (REGISTERED NUMBER: 06147603)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





G J Miller - Director


GRIN LIMITED (REGISTERED NUMBER: 06147603)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Grin 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 relates to income from the company activities as a dental practice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Fixtures, fittings and equipment - 15% on reducing balance
Computer equipment - 12.5% on cost

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 Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

GRIN LIMITED (REGISTERED NUMBER: 06147603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
During the year the company implemented automatic enrolment into a work place pension scheme for all employees.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 408,376
Additions 36,407
At 31 May 2024 444,783
DEPRECIATION
At 1 June 2023 197,970
Charge for year 27,656
At 31 May 2024 225,626
NET BOOK VALUE
At 31 May 2024 219,157
At 31 May 2023 210,406

The net book value of tangible fixed assets includes £ 63,384 (2023 - £ 74,570 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 7,750 -
Other debtors 51,899 28,551
59,649 28,551

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 4,500 5,000
Hire purchase contracts 20,113 22,782
Trade creditors 29,769 18,842
Taxation and social security 44,309 15,681
Other creditors 49,276 23,860
147,967 86,165

GRIN LIMITED (REGISTERED NUMBER: 06147603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 125,441 129,288
Hire purchase contracts 21,167 38,535
146,608 167,823

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 103,941 107,788

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 129,941 134,288
Hire purchase contracts 41,280 61,317
171,221 195,605

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.5.24 31.5.23
£    £   
G J Miller
Balance outstanding at start of year 8,390 33,209
Amounts advanced 14,396 8,390
Amounts repaid (8,390 ) (33,209 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,396 8,390