Registered number
08337284
Grant Associates (UK) Ltd
Filleted Accounts
31 March 2024
Grant Associates (UK) Ltd
Registered number: 08337284
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 452,777 453,111
Current assets
Debtors 4 3,506 1,925
Cash at bank and in hand 26,523 51,134
30,029 53,059
Creditors: amounts falling due within one year 5 (220,079) (261,256)
Net current liabilities (190,050) (208,197)
Total assets less current liabilities 262,727 244,914
Creditors: amounts falling due after more than one year 6 (166,174) (166,174)
Net assets 96,553 78,740
Capital and reserves
Called up share capital 100 100
Profit and loss account 96,453 78,640
Shareholders' funds 96,553 78,740
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
_______________________
Cheryl Sears
Director
Approved by the board on 28 November 2024
Grant Associates (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not depreciated
Leasehold land and buildings Not depreciated
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 451,774 4,292 456,066
At 31 March 2024 451,774 4,292 456,066
Depreciation
At 1 April 2023 - 2,955 2,955
Charge for the year - 334 334
At 31 March 2024 - 3,289 3,289
Net book value
At 31 March 2024 451,774 1,003 452,777
At 31 March 2023 451,774 1,337 453,111
4 Debtors 2024 2023
£ £
Trade debtors 3,256 1,715
Prepayments 250 210
3,506 1,925
5 Creditors: amounts falling due within one year 2024 2023
£ £
Deposits held 2,062 2,062
Corporation tax 5,499 5,540
Taxation and social security costs 99 40
Directors loan 212,309 253,504
Accruals 110 110
220,079 261,256
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 166,174 166,174
The loan is secured on the property of the company
7 Controlling party
The Directors Russell Sears and Cheryl Sears are in control of the company, owning 50 shares each.
8 Other information
Grant Associates (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
85 Holywell Road
Studham
Beds
LU6 2PD
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