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REGISTERED NUMBER: 10692152 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

GRADUS HOMES LIMITED

GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRADUS HOMES LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr P A Andrews
Mrs M Andrews
Mr M P Andrews
Ms K L Andrews





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 10692152 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,209 38,992

CURRENT ASSETS
Stocks 473,473 395,017
Debtors 5 548,588 635,750
Cash at bank 67,078 16,044
1,089,139 1,046,811
CREDITORS
Amounts falling due within one year 6 373,382 362,848
NET CURRENT ASSETS 715,757 683,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,966

722,955

CREDITORS
Amounts falling due after more than one
year

7

(200,000

)

(200,000

)

PROVISIONS FOR LIABILITIES (5,930 ) (7,408 )
NET ASSETS 541,036 515,547

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 540,936 515,447
SHAREHOLDERS' FUNDS 541,036 515,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st January 2025 and were signed on its behalf by:





Mr P A Andrews - Director


GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Gradus Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 33.3% on reducing balance

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 76,199 31,210 107,409
Additions 1,083 - 1,083
At 31st March 2024 77,282 31,210 108,492
DEPRECIATION
At 1st April 2023 44,032 24,385 68,417
Charge for year 6,614 2,252 8,866
At 31st March 2024 50,646 26,637 77,283
NET BOOK VALUE
At 31st March 2024 26,636 4,573 31,209
At 31st March 2023 32,167 6,825 38,992

GRADUS HOMES LIMITED (REGISTERED NUMBER: 10692152)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 600 631,269
Other debtors 547,297 3,881
Prepayments and accrued income 691 600
548,588 635,750

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 35,921 3,648
Tax 63,205 105,782
Social security and other taxes 29,185 12,565
VAT 12,189 1,875
Other creditors 158 143
Directors' current accounts 230,854 237,309
Accrued expenses 1,870 1,526
373,382 362,848

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Directors' loan accounts 200,000 200,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary shares £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance of the loan due to the directors at the balance sheet date was £430,854 (2023: £437,309); of this £200,000 has been shown as due after more than one year. No interest has been charged on this loan. The directors have confirmed that they will not draw against this loan until such time that the company can sustain repayment whilst maintaining its trading operations.

10. ULTIMATE CONTROLLING PARTY

Throughout the current financial year, Mr & Mrs P Andrews have controlled the company by virtue of their majority shareholding in the entity.