Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3137true2023-04-01falsefalseNo description of principal activity36trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC225278 2023-04-01 2024-03-31 SC225278 2022-04-01 2023-03-31 SC225278 2024-03-31 SC225278 2023-03-31 SC225278 c:Director1 2023-04-01 2024-03-31 SC225278 c:RegisteredOffice 2023-04-01 2024-03-31 SC225278 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 SC225278 d:Buildings d:LongLeaseholdAssets 2024-03-31 SC225278 d:Buildings d:LongLeaseholdAssets 2023-03-31 SC225278 d:PlantMachinery 2023-04-01 2024-03-31 SC225278 d:PlantMachinery 2024-03-31 SC225278 d:PlantMachinery 2023-03-31 SC225278 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC225278 d:MotorVehicles 2023-04-01 2024-03-31 SC225278 d:MotorVehicles 2024-03-31 SC225278 d:MotorVehicles 2023-03-31 SC225278 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC225278 d:OfficeEquipment 2023-04-01 2024-03-31 SC225278 d:OfficeEquipment 2024-03-31 SC225278 d:OfficeEquipment 2023-03-31 SC225278 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC225278 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC225278 d:CurrentFinancialInstruments 2024-03-31 SC225278 d:CurrentFinancialInstruments 2023-03-31 SC225278 d:Non-currentFinancialInstruments 2024-03-31 SC225278 d:Non-currentFinancialInstruments 2023-03-31 SC225278 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC225278 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC225278 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC225278 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC225278 d:ShareCapital 2024-03-31 SC225278 d:ShareCapital 2023-03-31 SC225278 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC225278 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC225278 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC225278 c:OrdinaryShareClass1 2024-03-31 SC225278 c:OrdinaryShareClass1 2023-03-31 SC225278 c:FRS102 2023-04-01 2024-03-31 SC225278 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC225278 c:FullAccounts 2023-04-01 2024-03-31 SC225278 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC225278 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC225278










GR8 DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
GR8 DEVELOPMENTS LIMITED
 

COMPANY INFORMATION


Director
Mr G Riddell 




Registered number
SC225278



Registered office
Unit 3
Bankhead Avenue

Bankhead Industrial Estate

Glenrothes

Fife

KY7 6JG




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
GR8 DEVELOPMENTS LIMITED
REGISTERED NUMBER: SC225278

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
730,308
690,217

  
730,308
690,217

Current assets
  

Stocks
  
67,507
51,475

Debtors: amounts falling due after more than one year
 5 
2,735,399
2,239,699

Debtors: amounts falling due within one year
 5 
2,750,638
2,594,072

Bank and cash balances
  
22,539
51,949

  
5,576,083
4,937,195

Creditors: amounts falling due within one year
 6 
(1,876,334)
(1,393,364)

Net current assets
  
 
 
3,699,749
 
 
3,543,831

Total assets less current liabilities
  
4,430,057
4,234,048

Creditors: amounts falling due after more than one year
 7 
(2,285,943)
(2,222,650)

Provisions for liabilities
  

Deferred tax
  
(148,591)
(134,545)

  
 
 
(148,591)
 
 
(134,545)

Net assets
  
1,995,523
1,876,853


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
1,995,521
1,876,851

  
1,995,523
1,876,853


Page 1

 
GR8 DEVELOPMENTS LIMITED
REGISTERED NUMBER: SC225278

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr G Riddell
Director

Date: 30 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is limited by shares and incorporated in Scotland; Registration Number: SC225278. The registered office address is Unit 3, Bankhead Industrial Estate, Glenrothes, Fife, KY7 6JG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets valued under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
Over the period of the lease
Plant and machinery
-
10% straight line
Motor vehicles
-
25% straight line
Office equipment
-
25% - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 37).

Page 5

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
221,781
1,929,274
337,381
67,760
2,556,196


Additions
-
224,511
35,994
-
260,505



At 31 March 2024

221,781
2,153,785
373,375
67,760
2,816,701



Depreciation


At 1 April 2023
177,885
1,347,753
278,962
61,379
1,865,979


Charge for the year on owned assets
12,923
160,196
43,967
3,328
220,414



At 31 March 2024

190,808
1,507,949
322,929
64,707
2,086,393



Net book value



At 31 March 2024
30,973
645,836
50,446
3,053
730,308



At 31 March 2023
43,896
581,521
58,419
6,381
690,217

Page 6

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
2,735,399
2,239,699


2024
2023
£
£

Due within one year

Trade debtors
734,484
468,411

Amounts owed by group undertakings
1,965,947
1,958,976

Other debtors
5,000
76,362

Prepayments and accrued income
45,207
90,323

2,750,638
2,594,072


Included within other debtors within one year is a loan to Mr G Riddell, director, amounting to £5,000 (2023 - £nil). No interest is applied.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,822
-

Bank loans
66,630
40,289

Trade creditors
839,585
507,758

Other taxation and social security
191,056
255,512

Obligations under finance lease and hire purchase contracts
131,589
134,809

Other creditors
357,247
367,767

Accruals and deferred income
281,405
87,229

1,876,334
1,393,364


Hire purchase obligations are secured by the relevant assets.
Other creditors are secured by a floating charge over the assets of the company.

Page 7

 
GR8 DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
172,532
268,089

Net obligations under finance leases and hire purchase contracts
292,323
119,574

Amounts owed to group undertakings
1,821,088
1,834,987

2,285,943
2,222,650


Hire purchase obligations are secured by the relevant assets.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Related party transactions

Included within debtors is an amount of £1,675,517 (2023 - £1,958,976) due from Simple Technical Solutions Ltd, a group company. No interest or repayment terms have been agreed.
Included within debtors is an amount of £2,735,399 (2023 - £2,239,699) due from Simple Technical Solutions GmbH, a group company. No interest or repayment terms have been agreed.
Included within debtors is an amount of £118,314 (2023 - £nil) due from Purple Venture 701 Limited, a group company. No interest or repayment terms have been agreed.
Included within debtors is an amount of £172,116 (2023 - £nil) due from Simple Technical Solutions Mechanical Engineering Limited, a group company. No interest or repayment terms have been agreed.
Included within creditors is an amount of £1,821,088 (2023 - £1,834,987) due to Simple Technical Solutions Holdings Limited, a group company. No interest or repayment terms have been agreed.


10.


Controlling party

Throughout the year, the controlling party was Simple Technical Solutions Holdings Limited, a company incorporated in Scotland; Registration: SC616765. The registered office is Unit 3, Bankhead Industrial Estate, Glenrothes, KY7 6JG.


Page 8