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Registration number: 11177832

Gradewell Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Gradewell Services Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

Gradewell Services Limited

Company Information

Directors

Ms Julie Elliott

Ms Joanne Marie Marsden

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

Accountants

Pattinsons Business Services Limited
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Gradewell Services Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Julie Elliott

Ms Joanne Marie Marsden (appointed 5 September 2023)

Principal activity

The principal activity of the company is that of supply of equipment to the construction industry.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 16 January 2025 and signed on its behalf by:

.........................................
Ms Julie Elliott
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gradewell Services Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gradewell Services Limited for the year ended 30 April 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Gradewell Services Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gradewell Services Limited and state those matters that we have agreed to state to the Board of Directors of Gradewell Services Limited , as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gradewell Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gradewell Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gradewell Services Limited . You consider that Gradewell Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gradewell Services Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Limited
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

16 January 2025

 

Gradewell Services Limited

(Registration number: 11177832)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

370,474

414,409

Investments

5

315,202

355,995

 

685,676

770,404

Current assets

 

Debtors

7

315,532

381,273

Cash at bank and in hand

 

637,067

573,822

 

952,599

955,095

Creditors: Amounts falling due within one year

8

(43,988)

(40,399)

Net current assets

 

908,611

914,696

Total assets less current liabilities

 

1,594,287

1,685,100

Creditors: Amounts falling due after more than one year

8

(453,821)

(558,716)

Provisions for liabilities

(78,557)

(91,143)

Net assets

 

1,061,909

1,035,241

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

1,061,908

1,035,240

Shareholders' funds

 

1,061,909

1,035,241

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:

..........................
Ms Julie Elliott
Director

 

Gradewell Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

These financial statements were authorised for issue by the Board on 16 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gradewell Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

15% reducing balance

Motor Vehicles

25% reducing balance

Computer Equipment

3 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiaries, associates or jointly controlled entities are measured at fair value with changes in fair value recognised in other comprehensive income.

Cash and cash equivalents

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 debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gradewell Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

66,104

75,641

Income from shares in group undertakings

-

(229,000)

5

Investments

2024
£

2023
£

Investments in subsidiaries

315,202

355,995

Subsidiaries

£

Cost or valuation

At 1 May 2023

355,995

Revaluation

(40,793)

At 30 April 2024

315,202

Provision

Carrying amount

At 30 April 2024

315,202

At 30 April 2023

355,995

 

Gradewell Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 May 2023

1,593

127,289

570,768

699,650

Additions

-

62,617

-

62,617

Disposals

-

(97,200)

-

(97,200)

At 30 April 2024

1,593

92,706

570,768

665,067

Depreciation

At 1 May 2023

1,508

65,327

218,406

285,241

Charge for the year

85

13,164

52,855

66,104

Eliminated on disposal

-

(56,752)

-

(56,752)

At 30 April 2024

1,593

21,739

271,261

294,593

Carrying amount

At 30 April 2024

-

70,967

299,507

370,474

At 30 April 2023

85

61,962

352,362

414,409

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

12,000

12,000

Amounts owed by subsidiary undertakings

187,812

258,488

Prepayments

 

1,528

781

Other debtors

 

114,192

110,004

 

315,532

381,273

 

Gradewell Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,100

1,339

Taxation and social security

 

37,339

18,295

Other creditors

 

5,549

20,765

 

43,988

40,399

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

453,821

558,716

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Reserves

2023
 £

2023
 £

Distributable reserves

1,751,706

1,684,245

Non-distributable reserves

(689,798)

(649,005)

1,061,908

1,035,240

The non-distributable reserves are used to record the increases in the fair value of group investment and decreases to the extent that such decrease relates to an increase on the same assets.