2023-10-012024-09-302024-09-30false03463258GRANGE PRODUCTS 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GRANGE PRODUCTS LIMITED

Registered Number
03463258
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

GRANGE PRODUCTS LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

DAVIS, Nicholas John Francis
DAVIS, Dorothee Elisabeth Auguste

Company Secretary

DAVIS, Dorothee Elisabeth Auguste

Registered Address

Units 1 - 3 Crown Industrial Estate Kenwood Road
Reddish
Stockport
SK5 6PH

Registered Number

03463258 (England and Wales)
GRANGE PRODUCTS LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets399,830106,089
99,830106,089
Current assets
Stocks4125,000100,000
Debtors1,501,683990,525
Cash at bank and on hand44,645110,283
1,671,3281,200,808
Creditors amounts falling due within one year5(377,846)(256,876)
Net current assets (liabilities)1,293,482943,932
Total assets less current liabilities1,393,3121,050,021
Creditors amounts falling due after one year6(43,122)(100,796)
Provisions for liabilities7(24,739)(26,256)
Net assets1,325,451922,969
Capital and reserves
Called up share capital55
Profit and loss account1,325,446922,964
Shareholders' funds1,325,451922,969
The financial statements were approved and authorised for issue by the Board of Directors on 5 November 2024, and are signed on its behalf by:
DAVIS, Nicholas John Francis
Director
Registered Company No. 03463258
GRANGE PRODUCTS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
The company took advantage of Employers National Insurance Allowance during the year.
2.Average number of employees
Average number of employees during the year

20242023
Average number of employees during the year1719
3.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 October 2318,308446,90454,976520,188
Additions-22,3565,34627,702
Disposals-(245,923)-(245,923)
At 30 September 2418,308223,33760,322301,967
Depreciation and impairment
At 01 October 2318,308352,10143,690414,099
Charge for year-26,8643,29130,155
On disposals-(242,117)-(242,117)
At 30 September 2418,308136,84846,981202,137
Net book value
At 30 September 24-86,48913,34199,830
At 30 September 23-94,80311,286106,089
4.Stocks

2024

2023

££
Raw materials and consumables125,000100,000
Total125,000100,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables66,06749,775
Bank borrowings and overdrafts98,69091,998
Taxation and social security210,989113,197
Accrued liabilities and deferred income2,1001,906
Total377,846256,876
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts16,75063,150
Other creditors26,37237,646
Total43,122100,796
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)24,73926,256
Total24,73926,256
8.Other commitments
The company entered into a CBILS agreement during the year over a period of 72 months for £150,000 from June 2021. The first 12 months required no payments to be made. Payments have been made during this year.
9.Events after reporting date
There were no post balance sheet events which need reporting in these financial statements.
10.Related party transactions
Grange Products Properties Limited is a related party by virtue that it is held under the same directorship as Grange Products Limited. The companies are in common control of the majority shareholders within each. During the year, transactions were carried out between the two companies whereby Grange Products Properties Limited charged rent for the period totalling £76,050 to Grange Products Limited. Other transactions occurred between the two companies and an amount of £109,669 was owed from Grange Products Properties Limited to Grange Products Limited.