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REGISTERED NUMBER: 13889225 (England and Wales)















Financial Statements

for the Year Ended 30 April 2024

for

GRIDTEC LIMITED

GRIDTEC LIMITED (REGISTERED NUMBER: 13889225)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRIDTEC LIMITED

Company Information
for the Year Ended 30 April 2024







Director: D B Wagner





Registered office: 7 Park Row
Leeds
LS1 5HD





Registered number: 13889225 (England and Wales)





Auditors: CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

GRIDTEC LIMITED (REGISTERED NUMBER: 13889225)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 9,943 -

Current assets
Debtors 6 496,401 293,048
Cash at bank 2,166,565 7,213
2,662,966 300,261
Creditors
Amounts falling due within one year 7 2,550,853 701,930
Net current assets/(liabilities) 112,113 (401,669 )
Total assets less current liabilities 122,056 (401,669 )

Provisions for liabilities 2,288 -
Net assets/(liabilities) 119,768 (401,669 )

Capital and reserves
Called up share capital 105 100
Retained earnings 119,663 (401,769 )
Shareholders' funds 119,768 (401,669 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





D B Wagner - Director


GRIDTEC LIMITED (REGISTERED NUMBER: 13889225)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. Statutory information

Gridtec 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are not considered to be any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year.

i) Amounts recoverable on contract and deferred income
The amounts recoverable on contract and deferred income involves a number of estimates including costs to complete, anticipated gross profit and the analysis of the costs incurred as a proportion of total costs. The amounts recoverable on contract are £112,411 (2023: NIL), and included within other creditors is deferred income relating to contracts of £560,940 (2023: £287,316).

Turnover
Turnover represents contract revenue and the sales of goods and services, net of value added tax. Contract revenue is recognised when and to the extent that the company obtains the right to consideration in exchange for performance. Revenue is measured at the fair value of the right to consideration.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bring the asset to its working condition for its intended us.

Tangible assets are not depreciated in the year of acquisition.

The depreciation policy adopted is 33% straight line.

GRIDTEC LIMITED (REGISTERED NUMBER: 13889225)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. Employees and directors

The average number of employees during the year was 6 (2023 - 2 ) .

GRIDTEC LIMITED (REGISTERED NUMBER: 13889225)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
Additions 9,943
At 30 April 2024 9,943
Net book value
At 30 April 2024 9,943

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 341,421 292,098
Amounts recoverable on contract 112,411 -
Other debtors 42,569 950
496,401 293,048

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 1,339,306 268,540
Amounts owed to group undertakings - 121,060
Taxation and social security 597,151 24,333
Other creditors 614,396 287,997
2,550,853 701,930

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 29,040 -
Between one and five years 58,080 -
87,120 -

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Angela Chorlton FCA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited

10. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amount to £4,778 (2023: £2,455).

Contributions totalling £1,481 (2023: £718) were payable to the scheme at the year end and are included in creditors.