Acorah Software Products - Accounts Production 15.0.500 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 11296384 Miss R M Potts Mr M A Potts Mr M Grant iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11296384 2023-04-30 11296384 2024-04-30 11296384 2023-05-01 2024-04-30 11296384 frs-core:CurrentFinancialInstruments 2024-04-30 11296384 frs-core:Non-currentFinancialInstruments 2024-04-30 11296384 frs-core:BetweenOneFiveYears 2024-04-30 11296384 frs-core:ComputerEquipment 2024-04-30 11296384 frs-core:ComputerEquipment 2023-05-01 2024-04-30 11296384 frs-core:ComputerEquipment 2023-04-30 11296384 frs-core:MotorVehicles 2024-04-30 11296384 frs-core:MotorVehicles 2023-05-01 2024-04-30 11296384 frs-core:MotorVehicles 2023-04-30 11296384 frs-core:PlantMachinery 2024-04-30 11296384 frs-core:PlantMachinery 2023-05-01 2024-04-30 11296384 frs-core:PlantMachinery 2023-04-30 11296384 frs-core:WithinOneYear 2024-04-30 11296384 frs-core:ShareCapital 2024-04-30 11296384 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 11296384 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11296384 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 11296384 frs-bus:SmallEntities 2023-05-01 2024-04-30 11296384 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11296384 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11296384 frs-bus:Director1 2023-05-01 2024-04-30 11296384 frs-bus:Director2 2023-05-01 2024-04-30 11296384 frs-bus:Director3 2023-05-01 2024-04-30 11296384 frs-countries:EnglandWales 2023-05-01 2024-04-30 11296384 2022-04-30 11296384 2023-04-30 11296384 2022-05-01 2023-04-30 11296384 frs-core:CurrentFinancialInstruments 2023-04-30 11296384 frs-core:Non-currentFinancialInstruments 2023-04-30 11296384 frs-core:BetweenOneFiveYears 2023-04-30 11296384 frs-core:WithinOneYear 2023-04-30 11296384 frs-core:ShareCapital 2023-04-30 11296384 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 11296384 frs-core:CurrentFinancialInstruments 1 2023-04-30
Registered number: 11296384
Grantec Electrical Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11296384
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,567 28,425
21,567 28,425
CURRENT ASSETS
Stocks 5 40,100 54,300
Debtors 6 189 10,393
Cash at bank and in hand 15,276 2,917
55,565 67,610
Creditors: Amounts Falling Due Within One Year 7 (50,602 ) (51,133 )
NET CURRENT ASSETS (LIABILITIES) 4,963 16,477
TOTAL ASSETS LESS CURRENT LIABILITIES 26,530 44,902
Creditors: Amounts Falling Due After More Than One Year 8 (8,960 ) (22,944 )
NET ASSETS 17,570 21,958
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 17,470 21,858
SHAREHOLDERS' FUNDS 17,570 21,958
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Miss R M Potts
Director
12 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Grantec Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11296384 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 5,169 51,860 462 57,491
Additions 330 - - 330
As at 30 April 2024 5,499 51,860 462 57,821
Depreciation
As at 1 May 2023 2,046 26,704 316 29,066
Provided during the period 863 6,289 36 7,188
As at 30 April 2024 2,909 32,993 352 36,254
Net Book Value
As at 30 April 2024 2,590 18,867 110 21,567
As at 1 May 2023 3,123 25,156 146 28,425
5. Stocks
2024 2023
£ £
Stock 40,100 54,300
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 189 10,393
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,892 9,205
Trade creditors 18,925 14,639
Bank loans and overdrafts 4,971 4,849
Corporation tax 1,538 -
Other taxes and social security 7,648 13,961
VAT 1,693 1,491
Other creditors 1,345 1,075
Pension creditor - 323
Directors' loan accounts 5,590 5,590
50,602 51,133
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,178 12,069
Bank loans 5,782 10,875
8,960 22,944
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,892 9,205
Later than one year and not later than five years 3,178 12,069
12,070 21,274
12,070 21,274
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
At the statement of financial position date the amount owed to the directors was £5,590 (2023:£5,590).
The directors loan account is unsecured, interest free and repayable on demand.
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