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Registration number: 1040794

Grunta Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Grunta Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Grunta Limited

Company Information

Directors

Mrs Dorothy Johnson

Mr E Harvey Johnson

Registered office

Deighton Way
Hagg Lane
Raskelf
York
North Yorkshire
YO61 3LL

Accountants

Fullertons Limited
Chartered Certified Accountants
Manchester House
50a Oxford Road
Guiseley
Leeds
LS20 8AB

 

Grunta Limited

(Registration number: 1040794)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,312,640

1,160,683

Current assets

 

Stocks

335,331

390,569

Debtors

5

503,712

504,189

Cash at bank and in hand

 

207,372

168,744

 

1,046,415

1,063,502

Creditors: Amounts falling due within one year

6

(312,510)

(324,507)

Net current assets

 

733,905

738,995

Net assets

 

2,046,545

1,899,678

Capital and reserves

 

Called up share capital

7

3,000

3,000

Retained earnings

2,043,545

1,896,678

Shareholders' funds

 

2,046,545

1,899,678

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

 

Grunta Limited

(Registration number: 1040794)
Balance Sheet as at 31 December 2023

.........................................
Mr E Harvey Johnson
Director

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Deighton Way
Hagg Lane
Raskelf
York
North Yorkshire
YO61 3LL

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods including cattle and hay, in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.

The directors are of the opinion that the cost and ongoing value of the land and buildings relates predominantly to agricultural land and therefore any buildings depreciation is not material.

Asset class

Depreciation method and rate

Plant and machinery

33.33% reducing balance method

Land and buildings

2% straight line on new buildings

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks comprising of livestock and animal feed is stated at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of any direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Preference shares have been classified as equity as there is no right of redemption within a fixed period.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,132,490

331,970

1,464,460

Additions

166,821

2,475

169,296

At 31 December 2023

1,299,311

334,445

1,633,756

Depreciation

At 1 January 2023

-

303,777

303,777

Charge for the year

7,116

10,223

17,339

At 31 December 2023

7,116

314,000

321,116

Carrying amount

At 31 December 2023

1,292,195

20,445

1,312,640

At 31 December 2022

1,132,490

28,193

1,160,683

Included within the net book value of land and buildings above is £1,292,195 (2022 - £1,132,490) in respect of freehold land and buildings.
 

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

9

502,112

502,112

Other debtors

 

1,600

2,077

 

503,712

504,189

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

302,873

302,873

Taxation and social security

 

500

5,260

Accruals and deferred income

 

9,137

16,374

 

312,510

324,507

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

Preference shares of £1 each

2,000

2,000

2,000

2,000

3,000

3,000

3,000

3,000

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

302,873

302,873

9

Related party transactions

Transactions with directors

 

Grunta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023

At 1 January 2023
£

At 31 December 2023
£

Mr E Harvey Johnson

Directors loan account

302,873

302,873

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

502,112

502,112

At end of period

502,112

502,112

2022

Entities with joint control or significant influence
£

Total
£

At start of period

502,112

502,112

At end of period

502,112

502,112

Terms of loans to related parties

The company is owed money by Grunta Holdings Limited which is a company controlled by Mr EH Johnson. The amount due is not repayable on demand and is interest free.
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Grunta Holdings Limited, incorporated in UK.