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REGISTERED NUMBER: 05503746 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

GRP Electrical (UK) Ltd

GRP Electrical (UK) Ltd (Registered number: 05503746)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GRP Electrical (UK) Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: G R Psaila



REGISTERED OFFICE: 144 Finlay Road
Gloucester
Gloucestershire
GL4 6TF



REGISTERED NUMBER: 05503746 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
Gloucestershire
GL1 1NU

GRP Electrical (UK) Ltd (Registered number: 05503746)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,469 4,478

CURRENT ASSETS
Stocks 500 500
Debtors 5 44,997 26,005
Cash at bank 81,775 116,768
127,272 143,273
CREDITORS
Amounts falling due within one year 6 23,835 38,317
NET CURRENT ASSETS 103,437 104,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,906

109,434

PROVISIONS FOR LIABILITIES 317 487
NET ASSETS 106,589 108,947

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 106,489 108,847
SHAREHOLDERS' FUNDS 106,589 108,947

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

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

The director acknowledges his 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.

GRP Electrical (UK) Ltd (Registered number: 05503746)

Statement of Financial Position - continued
31 July 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 director and authorised for issue on 6 January 2025 and were signed by:





G R Psaila - Director


GRP Electrical (UK) Ltd (Registered number: 05503746)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

GRP Electrical (UK) Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

GRP Electrical (UK) Ltd (Registered number: 05503746)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 August 2023 25,002 2,528 27,530
Additions - 276 276
Disposals - (703 ) (703 )
At 31 July 2024 25,002 2,101 27,103
Depreciation
At 1 August 2023 20,685 2,367 23,052
Charge for year 1,079 140 1,219
Eliminated on disposal - (637 ) (637 )
At 31 July 2024 21,764 1,870 23,634
Net book value
At 31 July 2024 3,238 231 3,469
At 31 July 2023 4,317 161 4,478

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 26,438 19,221
Other debtors 18,559 6,784
44,997 26,005

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 1,788 3,689
Taxation and social security 14,538 18,499
Other creditors 7,509 16,129
23,835 38,317

7. RELATED PARTY DISCLOSURES

Mr G R Psaila
Director

The director has loaned funds to the company. At 31 July 2024, the company owed the director £6,446 (2023 - £15,023). The unsecured loan, included within other creditors, is interest free with no fixed repayment terms.