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REGISTERED NUMBER: 10798828 (England and Wales)










GRANDWAYS INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 JULY 2023






GRANDWAYS INTERNATIONAL LIMITED (REGISTERED NUMBER: 10798828)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRANDWAYS INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 JULY 2023







DIRECTOR: Mr R Thazangara Ukkas





REGISTERED OFFICE: 325 Washwood Heath Road
Birmingham
United Kingdom
B8 2XJ





REGISTERED NUMBER: 10798828 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

GRANDWAYS INTERNATIONAL LIMITED (REGISTERED NUMBER: 10798828)

BALANCE SHEET
5 JULY 2023

5.7.23 5.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,797 17,879

CURRENT ASSETS
Stocks 249,611 136,000
Debtors 5 609,952 623,130
Cash at bank and in hand 437,107 41,275
1,296,670 800,405
CREDITORS
Amounts falling due within one year 6 (1,371,574 ) (999,008 )
NET CURRENT LIABILITIES (74,904 ) (198,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(56,107

)

(180,724

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (56,109 ) (180,726 )
SHAREHOLDERS' FUNDS (56,107 ) (180,724 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 July 2023 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.

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 19 July 2024 and were signed by:





Mr R Thazangara Ukkas - Director


GRANDWAYS INTERNATIONAL LIMITED (REGISTERED NUMBER: 10798828)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 JULY 2023

1. STATUTORY INFORMATION

Grandways International 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

GRANDWAYS INTERNATIONAL LIMITED (REGISTERED NUMBER: 10798828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 JULY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 July 2022 29,845
Additions 7,184
At 5 July 2023 37,029
DEPRECIATION
At 6 July 2022 11,966
Charge for year 6,266
At 5 July 2023 18,232
NET BOOK VALUE
At 5 July 2023 18,797
At 5 July 2022 17,879

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.7.23 5.7.22
£    £   
Trade debtors 598,074 616,089
Other debtors 11,878 7,041
609,952 623,130

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.7.23 5.7.22
£    £   
Trade creditors 1,341,131 986,043
Taxation and social security 25,329 4,393
Other creditors 5,114 8,572
1,371,574 999,008

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the Year, the director loaned monies to the company amounting to £2,650 (2022: £6,927). This amount is non-interest bearing and has no fixed date of repayment.

8. ULTIMATE CONTROLLING PARTY

There is no controlling party.