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Registered number: 13181542
Grabworx Limited
Unaudited Financial Statements
For The Year Ended 30 March 2024
Certax Accounting (South Manchester)
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13181542
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 174,368 156,532
174,368 156,532
CURRENT ASSETS
Debtors 5 43,878 64,544
Cash at bank and in hand 16,016 11,277
59,894 75,821
Creditors: Amounts Falling Due Within One Year 6 (91,967 ) (82,410 )
NET CURRENT ASSETS (LIABILITIES) (32,073 ) (6,589 )
TOTAL ASSETS LESS CURRENT LIABILITIES 142,295 149,943
Creditors: Amounts Falling Due After More Than One Year 7 (146,277 ) (178,464 )
NET LIABILITIES (3,982 ) (28,521 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (4,082 ) (28,621 )
SHAREHOLDERS' FUNDS (3,982) (28,521)
Page 1
Page 2
For the year ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B McKenna
Director
30/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grabworx Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13181542 . The registered office is Yard 1 Nutsford Vale, Manchester, M12 5QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
1Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 256 225,267 225,523
Additions 1,243 74,715 75,958
As at 30 March 2024 1,499 299,982 301,481
...CONTINUED
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Page 4
Depreciation
As at 1 April 2023 63 68,928 68,991
Provided during the period 359 57,763 58,122
As at 30 March 2024 422 126,691 127,113
Net Book Value
As at 30 March 2024 1,077 173,291 174,368
As at 1 April 2023 193 156,339 156,532
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35,372 34,423
Other debtors 8,506 30,121
43,878 64,544
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 (1 )
Other creditors 77,475 82,195
Taxation and social security 14,491 216
91,967 82,410
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 146,277 178,464
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Other Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 30 March 2024
£ £ £ £ £
Mr Brian McKenna - 7,938 - - 7,938
The above loan is unsecured, interest free and repayable on demand.
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