REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 December 2023 |
for |
Granted Consultancy Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 December 2023 |
for |
Granted Consultancy Limited |
Granted Consultancy Limited (Registered number: 07143407) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Granted Consultancy Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
71 Queen Victoria Street |
London |
EC4V 4BE |
Granted Consultancy Limited (Registered number: 07143407) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
Granted Consultancy Limited (Registered number: 07143407) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Granted Consultancy Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Critical judgements |
The following judgement (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. |
Share-based payments |
The company assessed that it is not probable that vesting will occur during the service period. Vesting of these options is contingent on a qualifying liquidity event, including an initial public offering. When assessing the probability, the directors have considered the factors and likelihood of the share options vesting. As a result no expense has been recognised in the financial statements in relation to the share options held by employees. |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
The Company performs services for clients under engagement specific contracts and receives a commission in exchange. Such contracts generally specify the agreed upon scope of the engagement, the time periods covered by the engagement, the client's responsibility in providing information to and cooperating with the Company, and the commission fee payable to the Company. |
Turnover from contracts which are generated from grant writing recognises the stage of completion when the grant claim has been submitted to the client. Fees are based on the specific contract with the customer. |
Turnover from contracts which are generated from successor fees recognises the stage of completion when the customer has passed all the steps required to obtain the grant. Fees are calculated on a percentage of the total grant received. |
Turnover from service project contracts are recognised at the stage the service is being provided. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Development costs are being amortised evenly over their estimated useful life. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognized so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers 30% reducing balance. |
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 the profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Share-based payments |
An equity-settled share-based payment expense is measured at the fair value of goods or services received, unless that cannot be reliably estimated, in which case the fair value of the equity instruments granted is used. The fair value of equity instruments is measured at the grant date, for transaction with employees, or otherwise at the date that goods or services are received. Employee service conditions and non-market performance conditions are not considered in the fair value calculation but are considered for each period when estimating the number of equity instruments expected to vest. At each statement of financial position date, the company revises its estimates of the number of options expected to vest. It recognises the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity termed a share option reserve. |
Employee benefits |
The cost of unused holiday entitlement is recognised in the period in which the employee's services are received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 | 1 |
Disposal | (1 | ) |
At 31 December 2023 | - |
NET BOOK VALUE |
At 31 December 2023 | - |
At 31 December 2022 | 1 |
The investment and disposal relates to Granted Fuse Limited, a previously dormant company which was dissolved on 22 August 2023. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
31.12.23 | 31.12.22 |
£ | £ |
Deferred tax | 1,900 | 2,583 |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 31 December 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 350 | 350 |
"A" Ordinary | £1 | 47 | 47 |
397 | 397 |
Ordinary shares have full voting rights and rights to participate in dividends or other distribution. "A" Ordinary shares are non-voting and have no rights to participate in dividends or other distribution. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006: |
The auditor's report was unqualified. |
The senior auditor was |
The auditor was |
12. | POST BALANCE SHEET EVENTS |
There are no adjusting post balance sheet events that took place after 31 December 2023. |
Granted Consultancy Limited (Registered number: 07143407) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | ULTIMATE CONTROLLING PARTY |
The Company is controlled by turn owned by Research and Development Tax Solutions (Holdings) Limited, which is in turn owned by Ryan Tax Services UK Limited. |
The ultimate controlling parent company is directors consider |
The consolidated financial statements of |
following address: |
Three Galleria Tower |
13155 Noel Road |
Suite 100 |
Dallas, Texas 75240 |
USA |
14. | SHARE-BASED PAYMENT TRANSACTIONS |
Ryan LLC, the ultimate controlling party has granted share options to certain employees in Granted Consultancy Limited. No share option expense arising on these options (2022:£Nil) have been recognised in the profit and loss account, as vesting was not determined to be probable within the service period. |
As a qualifying entity, under Section 1.12 of FRS 102, Granted Consultancy Limited has taken an exemption from disclosing the full details of the share-based payment arrangements. The equivalent disclosures are included in the consolidated financial statements of Ryan LLC in which Granted Consultancy Limited is consolidated. |