IRIS Accounts Production v24.3.0.553 04161004 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 9844 4906 36221 39628 27911 34690 18154 9844 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041610042023-03-31041610042024-03-31041610042023-04-012024-03-31041610042022-03-31041610042022-04-012023-03-31041610042023-03-3104161004ns15:EnglandWales2023-04-012024-03-3104161004ns14:PoundSterling2023-04-012024-03-3104161004ns10:Director12023-04-012024-03-3104161004ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104161004ns10:SmallEntities2023-04-012024-03-3104161004ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104161004ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104161004ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104161004ns10:FullAccounts2023-04-012024-03-3104161004ns10:OrdinaryShareClass12023-04-012024-03-3104161004ns10:Director2422023-03-3104161004ns10:Director2422022-03-3104161004ns10:Director2422023-04-012024-03-3104161004ns10:Director2422022-04-012023-03-3104161004ns10:Director2422024-03-3104161004ns10:Director2422023-03-3104161004ns10:Director22023-04-012024-03-3104161004ns10:CompanySecretary12023-04-012024-03-3104161004ns10:RegisteredOffice2023-04-012024-03-3104161004ns5:CurrentFinancialInstruments2024-03-3104161004ns5:CurrentFinancialInstruments2023-03-3104161004ns5:Non-currentFinancialInstruments2024-03-3104161004ns5:Non-currentFinancialInstruments2023-03-3104161004ns5:ShareCapital2024-03-3104161004ns5:ShareCapital2023-03-3104161004ns5:RetainedEarningsAccumulatedLosses2024-03-3104161004ns5:RetainedEarningsAccumulatedLosses2023-03-3104161004ns5:PlantMachinery2023-03-3104161004ns5:FurnitureFittings2023-03-3104161004ns5:MotorVehicles2023-03-3104161004ns5:PlantMachinery2023-04-012024-03-3104161004ns5:FurnitureFittings2023-04-012024-03-3104161004ns5:MotorVehicles2023-04-012024-03-3104161004ns5:PlantMachinery2024-03-3104161004ns5:FurnitureFittings2024-03-3104161004ns5:MotorVehicles2024-03-3104161004ns5:PlantMachinery2023-03-3104161004ns5:FurnitureFittings2023-03-3104161004ns5:MotorVehicles2023-03-3104161004ns5:WithinOneYear2024-03-3104161004ns5:WithinOneYear2023-03-3104161004ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3104161004ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3104161004ns10:OrdinaryShareClass12024-03-31041610041ns10:Director12023-03-31041610041ns10:Director12022-03-31041610041ns10:Director12023-04-012024-03-31041610041ns10:Director12022-04-012023-03-31041610041ns10:Director12024-03-31041610041ns10:Director12023-03-31
REGISTERED NUMBER: 04161004 (England and Wales)












Financial Statements

For The Year Ended 31st March 2024

for

Grainger Timber Frames Limited

Grainger Timber Frames Limited (Registered number: 04161004)






Contents of the Financial Statements
For The Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grainger Timber Frames Limited

Company Information
For The Year Ended 31st March 2024







DIRECTORS: Mr B Grainger
Mrs C M Grainger





SECRETARY: Mrs C M Grainger





REGISTERED OFFICE: Hutton Grange
Ripon
North Yorkshire
HG4 5LY





REGISTERED NUMBER: 04161004 (England and Wales)





ACCOUNTANTS: F E Metcalfe & Co Limited
Chartered Accountants
4 Old Market Place
Ripon
North Yorkshire
HG4 1EQ

Grainger Timber Frames Limited (Registered number: 04161004)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 20,363 25,120

CURRENT ASSETS
Stocks 6,040 5,000
Debtors 5 42,017 156,487
Cash at bank 261,036 143,203
309,093 304,690
CREDITORS
Amounts falling due within one year 6 41,727 91,845
NET CURRENT ASSETS 267,366 212,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,729

237,965

CREDITORS
Amounts falling due after more than one
year

7

-

(834

)

PROVISIONS FOR LIABILITIES (3,900 ) (4,800 )
NET ASSETS 283,829 232,331

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 283,827 232,329
SHAREHOLDERS' FUNDS 283,829 232,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Grainger Timber Frames Limited (Registered number: 04161004)

Balance Sheet - continued
31st March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2024 and were signed on its behalf by:





Mr B Grainger - Director


Grainger Timber Frames Limited (Registered number: 04161004)

Notes to the Financial Statements
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Grainger Timber Frames Limited is a private company, limited by shares, registered in England. The company's registered number and registered office are as follows;

Registered number 04161004

Registered Office Hutton Grange
Ripon
HG4 5LY

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial reporting Standard applicable in the UK" and the Companies Act 2006. The financial Statement have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and any discounts. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when an invoice is sent to a customer.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery 20% on reducing balance

Office equipment 25% on cost

Motor Vehicles 25% on reducing balance

Work-in-progress
Work-in-progress represents the cost of materials and labour incurred on a contract that have not been invoiced at the balance sheet date. A provision is made against the cost if the anticipated future sales value is expected to be lower than the cost of the materials and labour.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Grainger Timber Frames Limited (Registered number: 04161004)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

A basic financial liability that is a loan from a person who is a director and a shareholder is recorded at the initial transaction price and is not measured at fair value.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Grainger Timber Frames Limited (Registered number: 04161004)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£ £ £ £
COST
At 1st April 2023 92,913 7,123 58,021 158,057
Additions 1,117 - - 1,117
At 31st March 2024 94,030 7,123 58,021 159,174
DEPRECIATION
At 1st April 2023 80,275 7,123 45,539 132,937
Charge for year 2,753 - 3,121 5,874
At 31st March 2024 83,028 7,123 48,660 138,811
NET BOOK VALUE
At 31st March 2024 11,002 - 9,361 20,363
At 31st March 2023 12,638 - 12,482 25,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 16,415 143,070
Directors' current accounts 18,154 9,845
VAT 3,145 -
Prepayments and accrued income 4,303 3,572
42,017 156,487

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts - 16,536
Hire purchase contracts 834 2,500
Trade creditors 14,068 16,236
Corporation Tax 19,666 17,045
Social security and other taxes 2,535 31,552
Other creditors 1,924 1,387
Accruals and deferred income 2,700 6,589
41,727 91,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£ £
Hire purchase contracts - 834

Grainger Timber Frames Limited (Registered number: 04161004)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£ £
Mr B Grainger and Mrs C M Grainger
Balance outstanding at start of year 9,844 4,906
Amounts advanced 36,221 39,628
Amounts repaid (27,911 ) (34,690 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,154 9,844

Interest is charged at 2.25% on the loan due from the Directors and is repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr B Grainger and Mrs C Grainger.