Company registration number 5875065 (England and Wales)
GRW ENGINEERING UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
GRW ENGINEERING UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GRW ENGINEERING UK LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
129,062
67,383
Debtors
3
1,856,405
110,486
Cash at bank and in hand
283,914
2,269,381
177,869
Creditors: amounts falling due within one year
4
(1,752,262)
(529,537)
Net current assets/(liabilities)
517,119
(351,668)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
517,117
(351,670)
Total equity
517,119
(351,668)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 November 2024 and are signed on its behalf by:
Mr G J Van Der Merwe
Director
Company registration number 5875065 (England and Wales)
GRW ENGINEERING UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
GRW Engineering UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Queens Business Centre, 62 Weasenham Lane, Wisbech, Cambridgeshire, England, PE13 2RU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,840,419
95,400
Other debtors
15,986
15,086
1,856,405
110,486
GRW ENGINEERING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
1,595,683
428,394
Taxation and social security
30,560
20,492
Other creditors
124,819
79,501
Accruals and deferred income
1,200
1,150
1,752,262
529,537
5
Secured Debts
There are two charges registered on the company:
a) Barclays Bank Plc have a registered charge dated 5 November 2013 over a deposit of £5,000 in the
event of the current account being overdrawn.
b) Absa Bank Limited have a registered charge dated 1 August 2014 in the event of a default on the
group's borrowing facilities. As GRW Engineering UK Ltd is consolidated into the group controlled by
GRW Holdings (Pty) Ltd, the charge includes a cession of debtors from the UK company
6
Related Party Disclosures
At the end of the financial year £1,595,683 (2023: £428,394) was owed by GRW Engineering UK Ltd to GRW Engineering (Pty) Ltd.