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REGISTERED NUMBER: NI635907 (Northern Ireland)















Financial Statements for the Year Ended 30 November 2023

for

GRG Foods Ltd

GRG Foods Ltd (Registered number: NI635907)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRG Foods Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: G Irvine





REGISTERED OFFICE: 62 Main Street
Maguiresbridge
Enniskillen
Co. Fermanagh
BT94 4RZ





REGISTERED NUMBER: NI635907 (Northern Ireland)





ACCOUNTANTS: Dundas Gallagher
Chartered Accountants and Statutory Auditors
Thistlebank House
2 Old Henry Street
Enniskillen
Co. Fermanagh
BT74 7JX

GRG Foods Ltd (Registered number: NI635907)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 721,597 698,809
721,597 698,809

CURRENT ASSETS
Stocks 150,802 150,591
Debtors 6 269,154 183,465
Cash at bank 28,446 8,279
448,402 342,335
CREDITORS
Amounts falling due within one year 7 630,417 562,702
NET CURRENT LIABILITIES (182,015 ) (220,367 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

539,582

478,442

CREDITORS
Amounts falling due after more than one year 8 (148,746 ) (208,519 )

PROVISIONS FOR LIABILITIES (55,788 ) (44,374 )
NET ASSETS 335,048 225,549

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 54,528 54,528
Retained earnings 280,510 171,011
335,048 225,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

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 14 August 2024 and were signed by:



G Irvine - Director


GRG Foods Ltd (Registered number: NI635907)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

GRG Foods Ltd is a private company, limited by shares , registered in Northern Ireland. 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 2016, 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.
Freehold property - 2% on cost
Improvements to property - 20% on cost
Plant and machinery - 12.5% on cost
Motor vehicles - 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 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.

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 36 (2022 - 27 ) .

GRG Foods Ltd (Registered number: NI635907)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 46,400
AMORTISATION
At 1 December 2022
and 30 November 2023 46,400
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 468,481 480,560 949,041
Additions 26,824 76,841 103,665
At 30 November 2023 495,305 557,401 1,052,706
DEPRECIATION
At 1 December 2022 32,414 217,818 250,232
Charge for year 9,906 70,971 80,877
At 30 November 2023 42,320 288,789 331,109
NET BOOK VALUE
At 30 November 2023 452,985 268,612 721,597
At 30 November 2022 436,067 262,742 698,809

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 259,729 159,775
Other debtors 9,425 23,690
269,154 183,465

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 79,549 68,863
Hire purchase contracts 30,085 22,935
Trade creditors 358,587 306,967
Taxation and social security 35,717 7,476
Other creditors 126,479 156,461
630,417 562,702

GRG Foods Ltd (Registered number: NI635907)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 143,890 173,578
Hire purchase contracts 4,856 34,941
148,746 208,519