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Registration number: 04743491

T Grant & Son Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

T Grant & Son Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

T Grant & Son Limited

Company Information

Directors

Mr Ben Paul Allen

Mr William Astill

Mr Tony Bernard Astill

Company secretary

Mrs Rebecca Marie Astill

Registered office

Beckland House
Linkmel Road
Eastwood
Nottingham
Nottinghamshire
NG16 3RZ

Accountants

Atkinson Evans Limited
Chartered Certified Accountants
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
Nottinghamshire
NG5 6LJ

 

T Grant & Son Limited

(Registration number: 04743491)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,172

30,383

Current assets

 

Debtors

12,578

41,908

Cash at bank and in hand

 

105,501

121,932

 

118,079

163,840

Prepayments and accrued income

 

1,602

1,150

Creditors: Amounts falling due within one year

(32,978)

(41,319)

Net current assets

 

86,703

123,671

Total assets less current liabilities

 

112,875

154,054

Provisions for liabilities

(6,543)

(7,596)

Accruals and deferred income

 

(1,025)

(1,025)

Net assets

 

105,307

145,433

Capital and reserves

 

Called up share capital

5

103

103

Retained earnings

105,204

145,330

Shareholders' funds

 

105,307

145,433

For the financial year ending 31 July 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

 

T Grant & Son Limited

(Registration number: 04743491)
Abridged Balance Sheet as at 31 July 2024

.........................................
Mr Ben Paul Allen
Director

.........................................
Mr William Astill
Director

 

T Grant & Son Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Beckland House
Linkmel Road
Eastwood
Nottingham
Nottinghamshire
NG16 3RZ

These financial statements were authorised for issue by the Board on 21 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 abridged 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 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

T Grant & Son Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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

Motor vehicles

25% on Reducing Balance

Plant & Machinery

25% on Reducing Balance

Office equipment

25% on Reducing Balance

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.

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.

 

T Grant & Son Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

10,380

267

65,917

76,564

Additions

4,514

-

-

4,514

At 31 July 2024

14,894

267

65,917

81,078

Depreciation

At 1 August 2023

9,098

67

37,017

46,182

Charge for the year

1,449

50

7,225

8,724

At 31 July 2024

10,547

117

44,242

54,906

Carrying amount

At 31 July 2024

4,347

150

21,675

26,172

At 31 July 2023

1,282

200

28,901

30,383

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

B Dividend of £1 each

1

1

1

1

C Dividend of £1 each

1

1

1

1

D Dividend of £1 each

1

1

1

1

103

103

103

103