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Registration number: 12309265

Berkeley GRP Products Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Berkeley GRP Products Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Berkeley GRP Products Limited

Company Information

Directors

Mrs A J Spreadbury

Mr N M Spreadbury

Registered office

Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Berkeley GRP Products Limited

(Registration number: 12309265)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,763

251

Current assets

 

Stocks

5

200

2,000

Debtors

6

701

2,160

Cash at bank and in hand

 

21,925

7,005

 

22,826

11,165

Creditors: Amounts falling due within one year

7

(28,127)

(10,368)

Net current (liabilities)/assets

 

(5,301)

797

Total assets less current liabilities

 

15,462

1,048

Provisions for liabilities

(3,945)

-

Net assets

 

11,517

1,048

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

11,507

1,038

Shareholders' funds

 

11,517

1,048

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 

 

Berkeley GRP Products Limited

(Registration number: 12309265)
Balance Sheet as at 30 November 2024 (continued)

.........................................
Mr N M Spreadbury
Director

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

These financial statements were authorised for issue by the Board on 14 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 1).

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

549

-

549

Additions

-

21,470

21,470

At 30 November 2024

549

21,470

22,019

Depreciation

At 1 December 2023

298

-

298

Charge for the year

63

895

958

At 30 November 2024

361

895

1,256

Carrying amount

At 30 November 2024

188

20,575

20,763

At 30 November 2023

251

-

251

5

Stocks

2024
£

2023
£

Other inventories

200

2,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

701

2,160

 

701

2,160

7

Creditors

Creditors: amounts falling due within one year

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

7

Creditors (continued)

2024
£

2023
£

Due within one year

Taxation and social security

11,275

8,126

Accruals and deferred income

8,380

1,476

Other creditors

8,472

766

28,127

10,368

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

9

Dividends

2024

2023

£

£

Interim dividend of £4,307.53 (2023 - £5,876.60) per ordinary share

43,075

58,766

 

 

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr N M Spreadbury

The loan is interest free with no fixed date of repayment.

(766)

26,361

(34,068)

(8,473)

 

Berkeley GRP Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

10

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

21,166

10,572

Contributions paid to money purchase schemes

3,000

600

24,166

11,172