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Registration number: 03454114

Grampus Heritage & Training Limited

(A company limited by guarantee)

Unaudited Financial Statements

31 March 2024

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Grampus Heritage & Training Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Grampus Heritage & Training Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grampus Heritage & Training Limited for the year ended 31 March 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Grampus Heritage & Training Limited, as a body, in accordance with the terms of our engagement letter dated 9 December 2022. Our work has been undertaken solely to prepare for your approval the accounts of Grampus Heritage & Training Limited and state those matters that we have agreed to state to the Board of Directors of Grampus Heritage & Training Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grampus Heritage & Training Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Grampus Heritage & Training Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grampus Heritage & Training Limited. You consider that Grampus Heritage & Training Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Grampus Heritage & Training Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Audit Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

27 October 2024

 

Grampus Heritage & Training Limited

(Registration number: 03454114)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,543

3,710

Current assets

 

Debtors

5

58,220

155,031

Cash at bank and in hand

 

386,549

985,777

 

444,769

1,140,808

Creditors: Amounts falling due within one year

6

(75,360)

(822,659)

Net current assets

 

369,409

318,149

Total assets less current liabilities

 

377,952

321,859

Creditors: Amounts falling due after more than one year

6

(109)

(136)

Provisions for liabilities

(1,623)

(705)

Net assets

 

376,220

321,018

Capital and reserves

 

Profit and loss account

376,220

321,018

Total equity

 

376,220

321,018

 

Grampus Heritage & Training Limited

(Registration number: 03454114)
Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 October 2024
 

.........................................

M D Clark

Director

 

Grampus Heritage & Training Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Ashgill
Threapland
Aspatria
WIGTON
CA7 2EL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover, which includes grants, comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Grant income is recognised as and when individual participants being funded by the grant are placed to carry out the funded project activities.


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

 

Grampus Heritage & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% reducing balance basis

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

20% reducing balance basis and 3 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Grampus Heritage & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Grampus Heritage & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2023

26,968

14,789

3,534

45,291

Additions

706

-

6,000

6,706

At 31 March 2024

27,674

14,789

9,534

51,997

Depreciation

At 1 April 2023

25,445

13,335

2,801

41,581

Charge for the year

363

363

1,147

1,873

At 31 March 2024

25,808

13,698

3,948

43,454

Carrying amount

At 31 March 2024

1,866

1,091

5,586

8,543

At 31 March 2023

1,523

1,454

733

3,710

5

Debtors

2024
£

2023
£

Other debtors

58,220

155,031

58,220

155,031

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

3,940

2,440

Trade creditors

 

1,572

178,622

Taxation and social security

 

2,291

-

Corporation tax liability

 

13,380

32,898

Other creditors

 

54,177

608,699

 

75,360

822,659

Due after one year

 

Other creditors

 

109

136

 

Grampus Heritage & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

3,940

2,440