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Grennan Consultants Limited
Financial Statements
For The Year Ended 31 December 2023
TaxAssist Accountants
133 Station Road
Sidcup
DA15 7AA
Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 11122707
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 563 1,485
563 1,485
CURRENT ASSETS
Debtors 5 39,760 33,373
Cash at bank and in hand 13,943 19,226
53,703 52,599
Creditors: Amounts Falling Due Within One Year 6 (14,920 ) (14,595 )
NET CURRENT ASSETS (LIABILITIES) 38,783 38,004
TOTAL ASSETS LESS CURRENT LIABILITIES 39,346 39,489
PROVISIONS FOR LIABILITIES
Deferred Taxation (107 ) (282 )
NET ASSETS 39,239 39,207
CAPITAL AND RESERVES
Called up share capital 7 160 160
Profit and Loss Account 39,079 39,047
SHAREHOLDERS' FUNDS 39,239 39,207
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Horden
Director
13 September 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 160 30,764 30,924
Profit for the year and total comprehensive income - 51,983 51,983
Dividends paid - (43,700) (43,700)
As at 31 December 2022 and 1 January 2023 160 39,047 39,207
Profit for the year and total comprehensive income - 54,472 54,472
Dividends paid - (54,440) (54,440)
As at 31 December 2023 160 39,079 39,239
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Grennan Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11122707 . The registered office is 45 Parkhill Road, Bexley, Kent, DA5 1HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% straightline
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 4,921
As at 31 December 2023 4,921
Depreciation
As at 1 January 2023 3,436
Provided during the period 922
As at 31 December 2023 4,358
Net Book Value
As at 31 December 2023 563
As at 1 January 2023 1,485
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 30,204 33,311
Other debtors 9,556 62
39,760 33,373
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 14,325 12,260
Accruals and deferred income 595 595
Directors' loan accounts - 1,740
14,920 14,595
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary A shares of £ 1.00 each 100 100
60 Ordinary B shares of £ 1.00 each 60 60
160 160
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Paul Horden - 9,492 - - 9,492
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