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REGISTERED NUMBER: 13903568 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Grazed Brownies Limited

Grazed Brownies Limited (Registered number: 13903568)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Grazed Brownies Limited

Company Information
for the Year Ended 31 March 2024







Director: M P Thompson





Registered office: Sequoia View
Wynnstay Hall Estate
Ruabon
Wrexham
LL14 6LA





Registered number: 13903568 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Grazed Brownies Limited (Registered number: 13903568)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 19,722 22,884

Current assets
Stocks 6,395 13,670
Debtors 5 114,192 100,459
Cash at bank 19,601 27,468
140,188 141,597
Creditors
Amounts falling due within one year 6 65,344 42,466
Net current assets 74,844 99,131
Total assets less current liabilities 94,566 122,015

Creditors
Amounts falling due after more than
one year

7

(87,192

)

(51,054

)

Provisions for liabilities (1,331 ) (5,168 )
Net assets 6,043 65,793

Capital and reserves
Called up share capital 100 100
Retained earnings 5,943 65,693
Shareholders' funds 6,043 65,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Grazed Brownies Limited (Registered number: 13903568)

Statement of Financial Position - continued
31 March 2024


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 1 October 2024 and were signed by:





M P Thompson - Director


Grazed Brownies Limited (Registered number: 13903568)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Grazed Brownies 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. 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.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on cost
Computer equipment - 25% on cost

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 statement of financial position date.


Grazed Brownies Limited (Registered number: 13903568)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged against income on a straight line basis
over the lease term.

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.

Factoring
The company has an agreement whereby trade debts have been legally transferred to the factor but the main benefits and risks are retained by the company. Separate presentation has been adopted to show the gross amount of the debts under debtors and a corresponding liability in respect of the proceeds received from the factor under creditors. The interest and other charges of the factor are charged to the profit and loss account in the period in which incurred.

3. Employees and directors

The average number of employees during the year was 8 (2023 - 7 ) .

Grazed Brownies Limited (Registered number: 13903568)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Tangible fixed assets
Fixtures,
fittings Computer
& equipment equipment Totals
£    £    £   
Cost
At 1 April 2023 27,394 1,292 28,686
Additions 1,829 - 1,829
At 31 March 2024 29,223 1,292 30,515
Depreciation
At 1 April 2023 5,479 323 5,802
Charge for year 4,749 242 4,991
At 31 March 2024 10,228 565 10,793
Net book value
At 31 March 2024 18,995 727 19,722
At 31 March 2023 21,915 969 22,884

5. Debtors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Trade debtors 19,442 49,125
Other debtors 94,750 51,334
114,192 100,459

6. Creditors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,132 5,302
Hire purchase contracts 7,090 5,276
Trade creditors 16,940 4,037
Taxation and social security 11,858 12,583
Other creditors 19,324 15,268
65,344 42,466

7. Creditors: amounts falling due after more than one year
31/3/24 31/3/23
£    £   
Bank loans 81,008 42,896
Hire purchase contracts 6,184 8,158
87,192 51,054

Grazed Brownies Limited (Registered number: 13903568)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. Creditors: amounts falling due after more than one year - continued
31/3/24 31/3/23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 28,287 17,997

8. Secured debts

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 13,274 13,434
Factoring advances - 15,072
13,274 28,506

Hire purchase contracts are secured on the underlying assets.

Factoring advances are secured on trade debtors.

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31/3/24 31/3/23
£    £   
M P Thompson
Balance outstanding at start of year 44,518 -
Amounts advanced 101,894 113,649
Amounts repaid (87,436 ) (69,131 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,976 44,518

Loans to the director are unsecured and repayable on demand. The maximum balance outstanding during the year was £106,299. Amounts advanced include £7,871 on 9 May 2023 and £6,332 on 31 March 2024. Amounts repaid include £7,872 on 9 May 2023, £45,000 on 29 December 2023, £10,000 on 2 January 2024 and £5,000 on 31 March 2024.

10. Related party disclosures

The director has guaranteed the company's borrowings At 31 March 2024 the balance on these borrowings stood at £91,140.

Grazed Brownies Limited (Registered number: 13903568)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. Operating leases

At 31 March 2024 the company had commitments under non-cancellable operating leases over the remaining life of these leases of £22,187 (2023 : £39,937). The amount payable within one year in respect of these leases was £17,750 (2023 : £17,750).