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Registered number: 14266753














GRAIN ADVISERS UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
GRAIN ADVISERS UK LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
GRAIN ADVISERS UK LTD
REGISTERED NUMBER:14266753

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
83,621
-

Current assets
  

Debtors: amounts falling due after more than one year
 5 
65,712
-

Debtors: amounts falling due within one year
 5 
47,542
5,352

Cash at bank and in hand
  
83,727
-

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(167,996)
(33,496)

Total assets less current liabilities
  
 
 
112,606
 
 
(28,144)

Provisions for liabilities
  

Deferred tax
  
(11,485)
-

  
 
 
(11,485)
 
 
-

Net assets/(liabilities)
  
101,121
(28,144)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
101,120
(28,145)

  
101,121
(28,144)


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 profit and loss account 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 on 11 February 2025.




A Pickard
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
GRAIN ADVISERS UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Grain Advisers Limited is alimited liability company registered in England and Wales. Its registered office address is at Suite 1, 7th Floor 50 Broadway, London, SW1H 0BL.
The principal activity of the Company during the period was that of investment advisory services
The financial statements are presented in £ sterling, which is the functional currency of the Company.

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

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding Value Added Tax.
Revenue is recognised when the service is provided.

 
2.3

Tangible fixed assets

Tangible fixed assets 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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Short-term leasehold property
-
over the term of the lease

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.

Page 2

 
GRAIN ADVISERS UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

 
2.5

Financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.

 
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 income 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 3

 
GRAIN ADVISERS UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property

£



Cost or valuation


Additions
83,621



At 31 December 2023

83,621






Net book value



At 31 December 2023
83,621



At 31 December 2022
-


5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
65,712
-


2023
2022
£
£

Due within one year

Other debtors
42,391
450

Prepayments and accrued income
5,151
-

Deferred taxation
-
4,902

47,542
5,352


Page 4

 
GRAIN ADVISERS UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
900
6,904

Amounts owed to group undertakings
40,267
18,892

Other taxation and social security
105,118
-

Accruals and deferred income
21,711
7,700

167,996
33,496



7.


Share capital

2023
£
Allotted, called up and fully paid



11 Ordinary shares share of £1
1
1



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
301,180
-

Later than 1 year and not later than 5 years
328,560
-

Later than 5 years
355,940
-

985,680
-


9.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.


10.


Controlling party

The immediate parent company is Grain Management, LLC, a company incorporated in the USA.

Page 5

 
GRAIN ADVISERS UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 11 February 2025 by Sean Brennan FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 6