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REGISTERED NUMBER: 06377257 (England and Wales)















GRANORTE (UK) LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRANORTE (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr J F Marques Pedroso





SECRETARY: E Rocha





REGISTERED OFFICE: Unit 18, Cedar Court
Halesfield 17
Telford
Shropshire
TF7 4PF





REGISTERED NUMBER: 06377257 (England and Wales)

GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 90,426 26,119

CURRENT ASSETS
Stocks 348,742 325,007
Debtors 5 80,888 51,685
Cash at bank and in hand 56,642 104,338
486,272 481,030
CREDITORS
Amounts falling due within one year 6 (243,299 ) (210,884 )
NET CURRENT ASSETS 242,973 270,146
TOTAL ASSETS LESS CURRENT LIABILITIES 333,399 296,265

PROVISIONS FOR LIABILITIES (10,519 ) (5,120 )
NET ASSETS 322,880 291,145

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 322,879 291,144
SHAREHOLDERS' FUNDS 322,880 291,145

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2024 and were signed by:





Mr J F Marques Pedroso - Director


GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Granorte (UK) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated economic useful life.

Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance and 33.3% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 52,070
Additions 79,750
At 31 December 2023 131,820
DEPRECIATION
At 1 January 2023 25,951
Charge for year 15,443
At 31 December 2023 41,394
NET BOOK VALUE
At 31 December 2023 90,426
At 31 December 2022 26,119

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,258 43,561
Other debtors 6,630 8,124
80,888 51,685

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,771 28,481
Amounts owed to group undertakings 187,779 115,777
Corporation tax 4,035 17,204
Social security and other taxes 951 1,171
VAT 24,698 34,742
Other creditors - 590
Accruals and deferred income 15,065 12,919
243,299 210,884

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

GRANORTE (UK) LIMITED (REGISTERED NUMBER: 06377257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy G Hodgkiss (Senior Statutory Auditor)
for and on behalf of Deans

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £5,198 (2022 - £36,249).