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Company Registration No. 06883481 (England and Wales)
GRANITE ZONE LTD Unaudited accounts for the year ended 29 April 2024
GRANITE ZONE LTD Unaudited accounts Contents
Page
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GRANITE ZONE LTD Company Information for the year ended 29 April 2024
Director
Mr M Crawford
Company Number
06883481 (England and Wales)
Registered Office
2A EDELLE TRADING ESTATE QUEBEC STREET OLDHAM OL9 6QJ ENGLAND
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GRANITE ZONE LTD Statement of financial position as at 29 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
310,084 
355,381 
Current assets
Inventories
14,152 
28,769 
Debtors
103,050 
45,967 
Cash at bank and in hand
12,204 
137,982 
129,406 
212,718 
Creditors: amounts falling due within one year
(222,983)
(256,128)
Net current liabilities
(93,577)
(43,410)
Total assets less current liabilities
216,507 
311,971 
Creditors: amounts falling due after more than one year
(158,539)
(170,270)
Provisions for liabilities
Deferred tax
(58,983)
(88,846)
Net (liabilities)/assets
(1,015)
52,855 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
(1,215)
52,655 
Shareholders' funds
(1,015)
52,855 
For the year ending 29 April 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 15 January 2025 and were signed on its behalf by
Mr M Crawford Director Company Registration No. 06883481
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GRANITE ZONE LTD Notes to the Accounts for the year ended 29 April 2024
1
Statutory information
GRANITE ZONE LTD is a private company, limited by shares, registered in England and Wales, registration number 06883481. The registered office is 2A EDELLE TRADING ESTATE, QUEBEC STREET, OLDHAM, OL9 6QJ, 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 remained unchanged from the previous year, and also 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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GRANITE ZONE LTD Notes to the Accounts for the year ended 29 April 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Total 
£ 
Cost
At 30 April 2023
10,000 
At 29 April 2024
10,000 
Amortisation
At 30 April 2023
10,000 
At 29 April 2024
10,000 
Net book value
At 29 April 2024
- 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 30 April 2023
577,668 
Additions
11,092 
At 29 April 2024
588,760 
Depreciation
At 30 April 2023
222,287 
Charge for the year
56,389 
At 29 April 2024
278,676 
Net book value
At 29 April 2024
310,084 
At 29 April 2023
355,381 
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GRANITE ZONE LTD Notes to the Accounts for the year ended 29 April 2024
6
Transactions with related parties
Included in debtors is a balance due to Immer Enterprise Limited of £33,275. Immer Enterprise Limited is a company incorporated in England and Wales of which Matthew Crawford is also a director and shareholder.
7
Average number of employees
During the year the average number of employees was 17 (2023: 17).
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