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REGISTERED NUMBER: 03695907 (England and Wales)














Financial Statements

for the Year Ended 31 May 2024

for

GRANDSPAN LIMITED

GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRANDSPAN LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J A Crole



SECRETARY: J A Crole



REGISTERED OFFICE: Fairway House
Links Business Park
St. Mellons
Cardiff
CF3 OLT



REGISTERED NUMBER: 03695907 (England and Wales)



AUDITORS: Hayvenhursts Limited
Chartered Accountants &
Statutory Auditor
Fairway House
Links Business Park
St Mellons, Cardiff
CF3 OLT



SOLICITORS: Hutchinson Morris & L C Thomas
19 London Road
Neath
SA11 1LF

GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 371,986 350,591

CURRENT ASSETS
Stocks 102 102
Debtors 6 46,525 55,877
Cash at bank and in hand 1,081,133 1,066,541
1,127,760 1,122,520
CREDITORS
Amounts falling due within one year 7 (100,079 ) (103,389 )
NET CURRENT ASSETS 1,027,681 1,019,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,399,667

1,369,722

PROVISIONS FOR LIABILITIES 8 (10,656 ) (6,277 )
NET ASSETS 1,389,011 1,363,445

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Capital redemption reserve 10 234,000 234,000
Retained earnings 10 1,055,011 1,029,445
SHAREHOLDERS' FUNDS 1,389,011 1,363,445

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 20 September 2024 and were signed by:





J A Crole - Director


GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Grandspan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
From 1 February 2013 onwards, Machine Gaming Duty was introduced, and as such the majority of the company's turnover is no longer within the scope of value added tax, however there is still a small amount of turnover where value added tax remains applicable, this turnover is shown excluding value added tax.

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 - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

No depreciation is provided in respect of freehold property and improvement to freehold property. This is not in accordance with FRS No.15 `Tangible Fixed Assets'. In the opinion of the company`s director the open market value of the company`s freehold property is in excess of the original cost. However, in the absence of a professional valuation the director is unable to quantify the excess. The property is maintained so as its open market value does not fall below its original cost. The maintenance costs are written off to the company`s profit and loss account in the period that they are incurred.

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

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.


GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 June 2023 285,775 22,588 689,646 138,966 1,136,975
Additions - - 32,115 - 32,115
At 31 May 2024 285,775 22,588 721,761 138,966 1,169,090
DEPRECIATION
At 1 June 2023 - - 652,039 134,345 786,384
Charge for year - - 10,027 693 10,720
At 31 May 2024 - - 662,066 135,038 797,104
NET BOOK VALUE
At 31 May 2024 285,775 22,588 59,695 3,928 371,986
At 31 May 2023 285,775 22,588 37,607 4,621 350,591

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 33,028 43,272
Prepayments 13,497 12,605
46,525 55,877

GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 40,898 39,141
Tax 1,618 18,295
Social security and other taxes 1,795 1,491
Accrued expenses 55,768 44,462
100,079 103,389

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,656 6,277

Deferred
tax
£   
Balance at 1 June 2023 6,277
Movement in year 4,379
Balance at 31 May 2024 10,656

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £1 100,000 100,000

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 June 2023 1,029,445 234,000 1,263,445
Profit for the year 25,566 25,566
At 31 May 2024 1,055,011 234,000 1,289,011

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Cox (Senior Statutory Auditor)
for and on behalf of Hayvenhursts Limited

GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

12. ULTIMATE CONTROLLING PARTY

The controlling party is Stardust Leisure Limited following the acquisition of 100% during the year.

The ultimate controlling parties ae Mr J A Crole, Mr L J Crole and Mrs G Judd.