REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
GRANDSPAN LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & |
Statutory Auditor |
Fairway House |
Links Business Park |
St Mellons, Cardiff |
CF3 OLT |
SOLICITORS: |
19 London Road |
Neath |
SA11 1LF |
GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907) |
Balance Sheet |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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 |
GRANDSPAN LIMITED (REGISTERED NUMBER: 03695907) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Grandspan Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Short | to | Plant and | and |
leasehold | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Prepayments |
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 |
Tax |
Social security and other taxes |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 10,656 | 6,277 |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Movement in year | 4,379 |
Balance at 31 May 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
10. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2023 | 1,263,445 |
Profit for the year |
At 31 May 2024 | 1,289,011 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |