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Company No: 04704346 (England and Wales)

GRANT AIRCONDITIONING & VENTILATION LTD

Annual Report and Unaudited Financial Statements
For the financial year ended 30 April 2024

GRANT AIRCONDITIONING & VENTILATION LTD

Annual Report and Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

GRANT AIRCONDITIONING & VENTILATION LTD

COMPANY INFORMATION

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS A J Grant
M J Love
REGISTERED OFFICE Suite 5 Mayden House
Main Road Long Bennington
Newark
NG23 5DJ
United Kingdom
COMPANY NUMBER 04704346 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
14 London Road
Newark
NG24 1TW
United Kingdom
GRANT AIRCONDITIONING & VENTILATION LTD

DIRECTORS' REPORT

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

DIRECTORS' REPORT (continued)

For the financial year ended 30 April 2024

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

PRINCIPAL ACTIVITIES

The principal activity of the company during the year was that of installing air conditioning.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

A J Grant
M J Love

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.



Approved by the Board of Directors and signed on its behalf by:

A J Grant
Director

16 January 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRANT AIRCONDITIONING & VENTILATION LTD

For the financial year ended 30 April 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRANT AIRCONDITIONING & VENTILATION LTD (continued)

For the financial 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 financial statements of Grant Airconditioning & Ventilation Ltd for the year ended 30 April 2024 which compromise of the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company accounting records and from infomation and explanations you have given us.

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

It is your duty to ensure that Grant Airconditioning & Ventilation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grant Airconditioning & Ventilation Ltd. You consider that Grant Airconditioning & Ventilation Ltd 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 financial statements of Grant Airconditioning & Ventilation Ltd. 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 financial statements.

Duncan & Toplis Limited
Accountant

14 London Road
Newark
NG24 1TW
United Kingdom

16 January 2025

GRANT AIRCONDITIONING & VENTILATION LTD

INCOME STATEMENT

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

INCOME STATEMENT (continued)

For the financial year ended 30 April 2024
2024 2023
£ £
Turnover 2,589,489 1,882,541
Cost of sales ( 1,615,018) ( 1,217,338)
Gross profit 974,471 665,203
Administrative expenses ( 171,350) ( 141,058)
Operating profit 803,121 524,145
Interest payable and similar expenses ( 1,280) ( 1,197)
Profit before taxation 801,841 522,948
Tax on profit ( 199,953) ( 102,587)
Profit for the financial year 601,888 420,361
GRANT AIRCONDITIONING & VENTILATION LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 118,792 17,149
118,792 17,149
Current assets
Stocks 2,500 2,500
Debtors 4 1,003,630 819,887
Cash at bank and in hand 366,478 114,946
1,372,608 937,333
Creditors: amounts falling due within one year 5 ( 646,690) ( 545,401)
Net current assets 725,918 391,932
Total assets less current liabilities 844,710 409,081
Creditors: amounts falling due after more than one year 6 ( 60,586) ( 27,957)
Provision for liabilities ( 23,437) 0
Net assets 760,687 381,124
Capital and reserves
Called-up share capital 7 1,300 1,300
Profit and loss account 759,387 379,824
Total shareholders' funds 760,687 381,124

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Grant Airconditioning & Ventilation Ltd (registered number: 04704346) were approved and authorised for issue by the Board of Directors on 16 January 2025. They were signed on its behalf by:

A J Grant
Director
GRANT AIRCONDITIONING & VENTILATION LTD

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 30 April 2024
Called-up share capital Profit and loss account Total
£ £ £
At 01 May 2022 1,300 104,553 105,853
Profit for the financial year 0 420,361 420,361
Total comprehensive income 0 420,361 420,361
Dividends paid on equity shares 0 ( 145,090) ( 145,090)
At 30 April 2023 1,300 379,824 381,124
At 01 May 2023 1,300 379,824 381,124
Profit for the financial year 0 601,888 601,888
Total comprehensive income 0 601,888 601,888
Dividends paid on equity shares 0 ( 222,325) ( 222,325)
At 30 April 2024 1,300 759,387 760,687
GRANT AIRCONDITIONING & VENTILATION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grant Airconditioning & Ventilation Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 5 Mayden House, Main Road Long Bennington, Newark, NG23 5DJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 53,593 53,593
Additions 109,930 109,930
At 30 April 2024 163,523 163,523
Accumulated depreciation
At 01 May 2023 36,444 36,444
Charge for the financial year 8,287 8,287
At 30 April 2024 44,731 44,731
Net book value
At 30 April 2024 118,792 118,792
At 30 April 2023 17,149 17,149

4. Debtors

2024 2023
£ £
Trade debtors 826,383 647,902
Prepayments 406 181
VAT recoverable 0 3,713
Other debtors 176,841 168,091
1,003,630 819,887

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 357,401 417,407
Amounts owed to directors 4,687 3,568
Accruals 4,180 3,408
Taxation and social security 258,099 111,018
Obligations under finance leases and hire purchase contracts (secured) 12,126 0
Other creditors 197 0
646,690 545,401

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 18,009 27,957
Obligations under finance leases and hire purchase contracts (secured) 42,577 0
60,586 27,957

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
100 A Ordinary shares of £ 1.00 each 100 100
100 B Ordinary shares of £ 1.00 each 100 100
100 C Ordinary shares of £ 1.00 each 100 100
1,300 1,300
GRANT AIRCONDITIONING & VENTILATION LTD

DETAILED PROFIT AND LOSS ACCOUNT

For the financial year ended 30 April 2024
GRANT AIRCONDITIONING & VENTILATION LTD

DETAILED PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 30 April 2024
2024 2023
£ £
Turnover
Sales 2,589,489 1,882,541
Cost of sales
Purchases ( 734,485) ( 682,944)
Sub contract labour ( 847,683) ( 500,077)
Commission, carriage and import ( 663) 0
Equipment hire ( 32,187) ( 34,317)
(1,615,018) (1,217,338)
Gross profit 974,471 665,203
Gross profit percentage 37.63% 35.34%
Administrative expenses
Wages and salaries ( 48,608) ( 42,469)
Employers NI ( 458) 0
Pensions ( 1,153) ( 1,053)
Directors' salaries ( 16,200) ( 16,200)
Staff training and welfare ( 2,047) 0
Travel and subsistence ( 23,696) ( 16,522)
Rent ( 396) ( 534)
Use of home office ( 624) ( 624)
Internet, telephone and fax ( 4,457) ( 3,073)
Printing, postage and stationery ( 1,753) ( 4,771)
Bank charges ( 198) ( 150)
Subscriptions ( 2,074) 0
Insurance ( 4,912) ( 1,368)
Depreciation ( 8,288) ( 4,646)
Motor expenses ( 18,303) ( 16,562)
Donations ( 200) 0
Accountancy fees ( 4,296) ( 4,100)
Bookkeeping ( 24,050) ( 19,675)
Legal and professional fees ( 5,110) ( 5,574)
Sundry expenses ( 4,527) ( 3,737)
(171,350) (141,058)
Operating profit 803,121 524,145
Interest payable and similar expenses
Bank interest payable ( 835) ( 1,197)
Hire purchase interest payable ( 445) 0
(1,280) (1,197)
Profit before taxation 801,841 522,948