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REGISTERED NUMBER: 02739399 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RICHARD GRANT MOULDINGS LIMITED

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RICHARD GRANT MOULDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Foster
K D Dumbleton
S V Foster
A M Dumbleton





SECRETARY: D Foster





REGISTERED OFFICE: Units K4 and 5
Cherrycourt Way
Stanbridge Road
Leighton Buzzard
Bedfordshire
LU7 4UH





REGISTERED NUMBER: 02739399 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 820,740 950,869

CURRENT ASSETS
Inventories 253,292 288,116
Debtors 5 518,643 588,687
Cash at bank and in hand 142,165 56,581
914,100 933,384
CREDITORS
Amounts falling due within one year 6 465,851 663,418
NET CURRENT ASSETS 448,249 269,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,989

1,220,835

CREDITORS
Amounts falling due after more than one
year

7

(157,407

)

(268,518

)

PROVISIONS FOR LIABILITIES (382,678 ) (414,764 )
NET ASSETS 728,904 537,553

CAPITAL AND RESERVES
Called up share capital 406 406
Retained earnings 728,498 537,147
SHAREHOLDERS' FUNDS 728,904 537,553

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 directors acknowledge their 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.

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





D Foster - Director


RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

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

1. STATUTORY INFORMATION

Richard Grant Mouldings Limited is a private company limited by shares, incorporated in England and Wales. Its registered office and principal place of business is Units K4 and 5, Cherrycourt Way, Stanbridge Road, Leighton Buzzard, Bedfordshire, LU7 4UH.

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 and on a going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over 15 years
Plant and machinery - 20% and 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice factoring
Amounts due in respect of invoice factoring are included within current liabilities. The company can use this facility to draw down a percentage of the value of certain sales invoices. The management and collection of trade debtors lays with the provider.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 33 ) .

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 23,340 4,223,118 79,860 54,563 4,380,881
Additions - 286,568 1,690 - 288,258
Disposals - (2,848 ) - (1,500 ) (4,348 )
At 31 December 2023 23,340 4,506,838 81,550 53,063 4,664,791
DEPRECIATION
At 1 January 2023 23,340 3,275,054 77,055 54,563 3,430,012
Charge for year - 416,712 1,675 - 418,387
Eliminated on disposal - (2,848 ) - (1,500 ) (4,348 )
At 31 December 2023 23,340 3,688,918 78,730 53,063 3,844,051
NET BOOK VALUE
At 31 December 2023 - 817,920 2,820 - 820,740
At 31 December 2022 - 948,064 2,805 - 950,869

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 219,525 359,441
Amounts owed by group undertakings 84,000 -
Other debtors 215,118 229,246
518,643 588,687

The directors' loan accounts are interest free and repayable on demand.

The company has an agreement for the factoring of its trade debts, with HSBC Invoice Finance (UK) Limited. Trade debtors, as shown above, relate to amounts assigned to the factoring company. The advances from the factoring company against the assigned debtors are included in creditors as detailed below.

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 111,111 111,111
Hire purchase contracts - 12,210
Trade creditors 144,287 262,784
Taxation and social security 161,410 79,716
Other creditors 49,043 197,597
465,851 663,418

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 157,407 268,518

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 268,518 379,629

The bank borrowings are secured by a fixed and floating charge over the book debts and other assets created on 28th September 1999 and a fixed charge over all book debts and a floating charge over all other assets dated 22nd September 2006.

The first charge held by the bank over the book debts is deferred to HSBC Invoice Finance (UK) Limited in relation to those book debts financed by that company (as detailed above).

9. OTHER FINANCIAL COMMITMENTS

The company had total operating lease commitments at the year end of £267,636 (2022: £407,242).

RICHARD GRANT MOULDINGS LIMITED (REGISTERED NUMBER: 02739399)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 2023:

The overdrawn directors' loan accounts are repayable on demand.


Director 131.12.2331.12.22
££
Balance outstanding at start of year-94,989
Amounts advanced-25,461
Amounts repaid-(36,680)
Amounts transferred on resignation-(83,770)
Balance outstanding at end of year--


Director 231.12.2331.12.22
££
Balance outstanding at start of year(803)(511)
Amounts advanced28,04757,214
Amounts repaid(23,017)(57,506)
Amounts transferred on resignation-
Balance outstanding at end of year4,227(803)


Director 331.12.2331.12.22
££
Balance outstanding at start of year(500)(46)
Amounts advanced16,298546
Amounts repaid-(1,000)
Amounts transferred on resignation--
Balance outstanding at end of year15,798(500)

11. RELATED PARTY DISCLOSURES

On 30 November 2023, the entire share capital was transferred to the parent company Dumbfost Ltd, via a share for share exchange.

12. PARENT COMPANY

The parent company is Dumbfost Limited, and its registered office is Units K4 And 5 Cherrycourt Way, Stanbridge Road, Leighton Buzzard, Bedfordshire, England, LU7 4UH