Company No:
Contents
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 |
The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 30 April 2024.
PRINCIPAL ACTIVITIES
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
|
|
|
Approved by the Board of Directors and signed on its behalf by:
A J Grant
Director |
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.
Accountant
Newark
NG24 1TW
United Kingdom
2024 | 2023 | |||
£ | £ | |||
Turnover |
|
|
||
Cost of sales | (
|
(
|
||
Gross profit |
|
|
||
Administrative expenses | (
|
(
|
||
Operating profit |
|
|
||
Interest payable and similar expenses | (
|
(
|
||
Profit before taxation |
|
|
||
Tax on profit | (
|
(
|
||
Profit for the financial year |
|
|
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
118,792 | 17,149 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
1,372,608 | 937,333 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
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 | (
|
(
|
|
Provision for liabilities | (
|
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
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:
A J Grant
Director |
Called-up share capital | Profit and loss account | Total | |||
£ | £ | £ | |||
At 01 May 2022 |
|
|
|
||
Profit for the financial year |
|
|
|
||
Total comprehensive income |
|
|
|
||
Dividends paid on equity shares |
|
(
|
(
|
||
At 30 April 2023 |
|
|
|
||
At 01 May 2023 |
|
|
|
||
Profit for the financial year |
|
|
|
||
Total comprehensive income |
|
|
|
||
Dividends paid on equity shares |
|
(
|
(
|
||
At 30 April 2024 |
|
|
|
||
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.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery etc. | 15 -
|
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.
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.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
|
|
|
Additions |
|
|
|
At 30 April 2024 |
|
|
|
Accumulated depreciation | |||
At 01 May 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 30 April 2024 |
|
|
|
Net book value | |||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Prepayments |
|
|
|
VAT recoverable |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals |
|
|
|
Taxation and social security |
|
|
|
Obligations under finance leases and hire purchase contracts (secured) |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Obligations under finance leases and hire purchase contracts (secured) |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,300 | 1,300 |
2024 | 2023 | ||
£ | £ | ||
Turnover | |||
Sales |
|
|
|
Cost of sales | |||
Purchases | (
|
(
|
|
Sub contract labour | (
|
(
|
|
Commission, carriage and import | (
|
|
|
Equipment hire | (
|
(
|
|
(1,615,018) | (1,217,338) | ||
Gross profit |
|
|
|
Gross profit percentage | 37.63% | 35.34% | |
Administrative expenses | |||
Wages and salaries | (
|
(
|
|
Employers NI | (
|
|
|
Pensions | (
|
(
|
|
Directors' salaries | (
|
(
|
|
Staff training and welfare | (
|
|
|
Travel and subsistence | (
|
(
|
|
Rent | (
|
(
|
|
Use of home office | (
|
(
|
|
Internet, telephone and fax | (
|
(
|
|
Printing, postage and stationery | (
|
(
|
|
Bank charges | (
|
(
|
|
Subscriptions | (
|
|
|
Insurance | (
|
(
|
|
Depreciation | (
|
(
|
|
Motor expenses | (
|
(
|
|
Donations | (
|
|
|
Accountancy fees | (
|
(
|
|
Bookkeeping | (
|
(
|
|
Legal and professional fees | (
|
(
|
|
Sundry expenses | (
|
(
|
|
(171,350) | (141,058) | ||
Operating profit |
|
|
|
Interest payable and similar expenses | |||
Bank interest payable | (
|
(
|
|
Hire purchase interest payable | (
|
|
|
(1,280) | (1,197) | ||
Profit before taxation |
|
|