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Company Registration No. 14749996 (England and Wales)
Grid Accounting LTD Unaudited accounts for the period from 22 March 2023 to 31 March 2024
Grid Accounting LTD Unaudited accounts Contents
Page
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Grid Accounting LTD Company Information for the period from 22 March 2023 to 31 March 2024
Director
Alexander John Munro
Company Number
14749996 (England and Wales)
Registered Office
52 Cranberry Close West Bridgford Nottingham Nottinhhamshire NG2 7TQ England
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Grid Accounting LTD Statement of financial position as at 31 March 2024
2024 
Notes
£ 
Current assets
Debtors
1,343 
Cash at bank and in hand
6,643 
7,986 
Creditors: amounts falling due within one year
(16,066)
Net current liabilities
(8,080)
Net liabilities
(8,080)
Capital and reserves
Called up share capital
120 
Profit and loss account
(8,200)
Shareholders' funds
(8,080)
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 October 2024 and were signed on its behalf by
Alexander John Munro Director Company Registration No. 14749996
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Grid Accounting LTD Notes to the Accounts for the period from 22 March 2023 to 31 March 2024
1
Statutory information
Grid Accounting LTD is a private company, limited by shares, registered in England and Wales, registration number 14749996. The registered office is 52 Cranberry Close, West Bridgford, Nottingham, Nottinhhamshire, NG2 7TQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Going concern
Due to ongoing financial support from the shareholder and directors, the Directors are of the opinion that the company is a going concern.
Cash
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Grid Accounting LTD Notes to the Accounts for the period from 22 March 2023 to 31 March 2024
4
Debtors
2024 
£ 
Amounts falling due within one year
Trade debtors
980 
Other debtors
363 
1,343 
5
Creditors: amounts falling due within one year
2024 
£ 
VAT
1,368 
Trade creditors
1,361 
Other creditors
11,843 
Accruals
1,494 
16,066 
Other Creditors relates to loans received from the following shareholding companies: - Munro Multi Ventures (Pty) Ltd - £6,076 - Funkee Passion (Pty) Ltd - £5,777 The loans are unsecured, interest free and have no fixed terms of repayment
6
Share capital
2024 
£ 
Allotted, called up and fully paid:
120 120 Ordinary shares of £1 each of £1 each
120 
Shares issued during the period:
120 120 Ordinary shares of £1 each of £1 each
120 
7
Transactions with related parties
Included within note 6, Other Creditors, are loans with shareholders amounting to £11,843. The loans are unsecured, interest free and have no fixed terms of repayment
8
Average number of employees
During the period the average number of employees was 1.
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