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Registered number: 06986090

Grindtec Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024

Prepared By:
Johnston and Co
Accountants
Cherry Trees
DY12 3LE

Grindtec Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
DIRECTORS
Darren Spencer Armstrong
Stephen John Wood
SECRETARY
Stephen John Wood
REGISTERED OFFICE
Unit 2 Springfield Estate
Manchester Street
Oldbury
West Midlands
B69 4HH
COMPANY DETAILS
Private company limited by shares registered in , registered number 06986090
ACCOUNTANTS
Johnston and Co
Accountants
Cherry Trees
DY12 3LE

Grindtec Limited

ACCOUNTS
FOR THEYEARENDED31/08/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Grindtec Limited

BALANCE SHEET AT 31/08/2024
20242023
Notes££
FIXED ASSETS
Tangible assets330,67133,857
CURRENT ASSETS
Stock535490
Debtors567,21361,911
Cash at bank and in hand72,566117,681
140,314180,082
CREDITORS: Amounts falling due within one year671,18896,971
NET CURRENT ASSETS69,12683,111
TOTAL ASSETS LESS CURRENT LIABILITIES99,797116,968
PROVISIONS FOR LIABILITIES AND CHARGES75,7426,347
NET ASSETS94,055110,621
CAPITAL AND RESERVES
Called up share capital8400400
Profit and loss account93,655110,221
SHAREHOLDERS' FUNDS94,055110,621
For the year ending 31/08/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 24/10/2024 and signed on their behalf by
.............................
Darren Spencer Armstrong
Director
.............................
Stephen John Wood
Director

Grindtec Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Fixtures and Fittingsreducing balance 25%
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2. EMPLOYEES
20242023
No.No.
Average number of employees78

Grindtec Limited

3. TANGIBLE FIXED ASSETS
Plant andFixtures
Machineryand FittingsEquipmentTotal
££££
Cost
At 01/09/202387,9543,0429,854100,850
Additions--766766
Disposals--(4,792)(4,792)
At 31/08/202487,9543,0425,82896,824
Depreciation
At 01/09/202358,6081,7426,64366,993
Disposals--(4,471)(4,471)
For the year2,893666723,631
At 31/08/202461,5011,8082,84466,153
Net Book Amounts
At 31/08/202426,4531,2342,98430,671
At 31/08/202329,3461,3003,21133,857
4. STOCK 20242023
££
Stock comprises:
Stock535490
535490
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors58,23853,720
Prepayments8,9758,191
67,21361,911

Grindtec Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax2,7597,007
VAT4,0706,621
PAYE control1,3841,820
Directors current account7,90717,873
Directors current account6,07916,045
Trade creditors29,34322,666
Other creditors15,82620,980
Pension schemes721907
Accruals3,0993,052
71,18896,971
7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation5,7426,347
5,7426,347
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
200 Ordinary shares of £1 each200200
200 Class B shares of £1 each200200
400400