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Company No: 08281092 (England and Wales)

GRAPEVINE COMPUTING LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

GRAPEVINE COMPUTING LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GRAPEVINE COMPUTING LTD

BALANCE SHEET

As at 31 March 2024
GRAPEVINE COMPUTING LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Current assets
Debtors 4 2,334 1,229
Cash at bank and in hand 4,085 3,239
6,419 4,468
Creditors: amounts falling due within one year 5 ( 8,893) ( 7,425)
Net current liabilities (2,474) (2,957)
Total assets less current liabilities (2,474) (2,957)
Net liabilities ( 2,474) ( 2,957)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 2,574 ) ( 3,057 )
Total shareholders' deficit ( 2,474) ( 2,957)

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.

Directors' responsibilities:

The financial statements of Grapevine Computing Ltd (registered number: 08281092) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Marion Knight-Dixon
Director

10 November 2024

GRAPEVINE COMPUTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GRAPEVINE COMPUTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grapevine Computing Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Faiers House, Gilray Road, Diss, IP22 4WR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £2,474. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 3,822 3,822
At 31 March 2024 3,822 3,822
Accumulated depreciation
At 01 April 2023 3,822 3,822
At 31 March 2024 3,822 3,822
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Debtors

2024 2023
£ £
Trade debtors 2,334 638
Corporation tax 0 591
2,334 1,229

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 750 0
Amounts owed to directors 6,088 5,866
Accruals 1,110 965
Taxation and social security 945 594
8,893 7,425