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REGISTERED NUMBER: 08063361 (England and Wales)















Grid North Site Engineering Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Grid North Site Engineering Limited (Registered number: 08063361)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Grid North Site Engineering Limited

Company Information
for the Year Ended 31 May 2024







Directors: Lisa Moughan
John Martin Moughan





Registered office: 21 Sefton Lane
Horwich
Bolton
BL6 6HJ





Registered number: 08063361 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Grid North Site Engineering Limited (Registered number: 08063361)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 10,736 3,654
Investment property 5 362,807 -
373,543 3,654

Current assets
Debtors 6 16,709 23,274
Cash at bank 6,495 83,410
23,204 106,684
Creditors
Amounts falling due within one year 7 72,604 54,499
Net current (liabilities)/assets (49,400 ) 52,185
Total assets less current liabilities 324,143 55,839

Creditors
Amounts falling due after more than one
year

8

(264,713

)

(9,223

)

Provisions for liabilities 10 (1,989 ) (1,251 )
Net assets 57,441 45,365

Grid North Site Engineering Limited (Registered number: 08063361)

Statement of Financial Position - continued
31 May 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 11 100 100
Retained earnings 57,341 45,265
Shareholders' funds 57,441 45,365

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





Lisa Moughan - Director


Grid North Site Engineering Limited (Registered number: 08063361)

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

1. Statutory information

Grid North Site Engineering 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for construction engineering services provided, net of Value Added Tax.

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
Computer equipment - Straight line over 3 years

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Grid North Site Engineering Limited (Registered number: 08063361)

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

2. Accounting policies - continued
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.

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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 June 2023 15,777 2,244 18,021
Additions 8,443 - 8,443
At 31 May 2024 24,220 2,244 26,464
Depreciation
At 1 June 2023 12,704 1,663 14,367
Charge for year 1,177 184 1,361
At 31 May 2024 13,881 1,847 15,728
Net book value
At 31 May 2024 10,339 397 10,736
At 31 May 2023 3,073 581 3,654

Grid North Site Engineering Limited (Registered number: 08063361)

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

5. Investment property
Total
£   
Fair value
Additions 362,807
At 31 May 2024 362,807
Net book value
At 31 May 2024 362,807

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,810 5,180
Other debtors 14,899 18,094
16,709 23,274

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 12,519 4,000
Taxation and social security 6,035 9,488
Other creditors 54,050 41,011
72,604 54,499

8. Creditors more than one year
2024 2023
£    £   
Bank loans (see note 9) 264,713 9,223

9. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 12,519 4,000

Grid North Site Engineering Limited (Registered number: 08063361)

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

9. Loans - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 264,713 9,223

The mortgage repayments falling due after 5 years amount to £156,184. The mortgage is secured by legal charges over the company's investment property.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 1,989 1,251

Deferred
tax
£   
Balance at 1 June 2023 1,251
Provided during year 738
Balance at 31 May 2024 1,989

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100