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REGISTERED NUMBER: 04323559 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Graspclear Limited

Graspclear Limited (Registered number: 04323559)






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


Graspclear Limited

Company Information
for the Year Ended 31 March 2024







Director: J P Ellison





Secretary: J P Ellison





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 04323559 (England and Wales)





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

Graspclear Limited (Registered number: 04323559)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Investment property 4 896,000 896,000

Current assets
Debtors 5 10,000 10,000
Cash at bank 14,865 11,594
24,865 21,594
Creditors
Amounts falling due within one year 6 45,473 42,279
Net current liabilities (20,608 ) (20,685 )
Total assets less current liabilities 875,392 875,315

Provisions for liabilities 7 37,686 37,686
Net assets 837,706 837,629

Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 369,589 369,589
Retained earnings 8 467,117 467,040
837,706 837,629

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.

Graspclear Limited (Registered number: 04323559)

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 2 October 2024 and were signed by:





J P Ellison - Director


Graspclear Limited (Registered number: 04323559)

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

1. Statutory information

Graspclear 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 property rental is recognised on an accruals basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

Graspclear Limited (Registered number: 04323559)

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

4. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 896,000
Net book value
At 31 March 2024 896,000
At 31 March 2023 896,000

5. Debtors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Other debtors 10,000 10,000

6. Creditors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Amounts owed to group undertakings 29,190 29,190
Taxation and social security 14,298 10,894
Other creditors 1,985 2,195
45,473 42,279

7. Provisions for liabilities
31/3/24 31/3/23
£    £   
Deferred tax 37,686 37,686

Deferred
tax
£   
Balance at 1 April 2023 37,686
Balance at 31 March 2024 37,686

8. Reserves

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative non-distributable revaluation surpluses have been included in a revaluation reserve. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.