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REGISTERED NUMBER: SC335188 (Scotland)















GRD JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRD JOINERY LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTOR: G R Dickson





REGISTERED OFFICE: 16 Royal Crescent
Glasgow
G3 7SL





REGISTERED NUMBER: SC335188 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Crescent
Glasgow
G3 7SL

GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,209 7,453

CURRENT ASSETS
Debtors 5 5,086 7,339
Cash at bank 22,094 21,875
27,180 29,214
CREDITORS
Amounts falling due within one year 6 23,139 18,256
NET CURRENT ASSETS 4,041 10,958
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,250

18,411

CREDITORS
Amounts falling due after more than one
year

7

(7,274

)

(14,175

)

PROVISIONS FOR LIABILITIES (990 ) (1,416 )
NET ASSETS 986 2,820

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 984 2,818
SHAREHOLDERS' FUNDS 986 2,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

BALANCE SHEET - continued
31 December 2023


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 13 September 2024 and were signed by:





G R Dickson - Director


GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

GRD Joinery Limited is a private company, limited by shares , registered in Scotland. 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 represents goods and services provided in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each assets over its estimated useful life.

Plant and machinery, etc - 25% on cost and 25% reducing balance.

Financial instruments
Basic financial instruments, including trade and other debtors, trade and other creditors, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

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.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives.The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method.The capital element of future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

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
and 31 December 2023 24,768
DEPRECIATION
At 1 January 2023 17,315
Charge for year 2,244
At 31 December 2023 19,559
NET BOOK VALUE
At 31 December 2023 5,209
At 31 December 2022 7,453

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,951 1,021
Other debtors 150 394
Tax recoverable 2,985 5,924
5,086 7,339

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 4,558 4,446
Hire purchase contracts 2,343 2,136
Trade creditors 964 -
Taxation and social security 11,154 8,632
Other creditors 4,120 3,042
23,139 18,256

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 6,655 11,213
Hire purchase contracts 619 2,962
7,274 14,175

GRD JOINERY LIMITED (REGISTERED NUMBER: SC335188)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 2,962 5,098

Hire purchase creditors have security over related assets.

9. RELATED PARTY DISCLOSURES

At 31 December 2023 the company's director had provided the company with an interest free loan of £648 (2022, £598) which is included in other creditors. There are no fixed repayment terms for this loan.