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GRINDROD SURVEYS LIMITED

(formerly KNIGHT GRINDROD LTD)

Registered Number
05721819
(England and Wales)

Unaudited Financial Statements for the Period ended
30 April 2024

GRINDROD SURVEYS LIMITED
Company Information
for the period from 1 April 2023 to 30 April 2024

Directors

GRINDROD, David Leonard
GRINDROD, William David (appointed 15 August 2024)

Registered Address

20 Cottage Road
Leeds
LS6 4DD

Registered Number

05721819 (England and Wales)
GRINDROD SURVEYS LIMITED
Statement of Financial Position
30 April 2024

Notes

30 Apr 2024

31 Mar 2023

£

£

£

£

Fixed assets
Tangible assets31,6785,360
1,6785,360
Current assets
Debtors420,06544,074
Cash at bank and on hand67,16844,435
87,23388,509
Creditors amounts falling due within one year5(89,405)(96,032)
Net current assets (liabilities)(2,172)(7,523)
Total assets less current liabilities(494)(2,163)
Provisions for liabilities6(318)(728)
Net assets(812)(2,891)
Capital and reserves
Called up share capital200200
Profit and loss account(1,012)(3,091)
Shareholders' funds(812)(2,891)
The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2024, and are signed on its behalf by:
GRINDROD, David Leonard
Director
Registered Company No. 05721819
GRINDROD SURVEYS LIMITED
Notes to the Financial Statements
for the period ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total expected contract costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows: Land and buildings - 20% straight line Plant and machinery - 20% reducing balance and between 20% and 33% straight line
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 April 2319,94025,32845,268
At 30 April 2419,94025,32845,268
Depreciation and impairment
At 01 April 2319,94019,96839,908
Charge for year-3,6823,682
At 30 April 2419,94023,65043,590
Net book value
At 30 April 24-1,6781,678
At 31 March 23-5,3605,360
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8641,731
Other debtors19,20142,343
Total20,06544,074
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,6433,286
Taxation and social security79,12374,736
Other creditors7,63918,010
Total89,40596,032
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)318728
Total318728
7.Related party transactions
During the year the directors had a loan account with the company. At the balance sheet date, the directors owed the company £558 (2023: £28,439). This balance is shown in other debtors and interest was charged on this amount at the HMRC official rate.