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REGISTERED NUMBER: 04069472 (England and Wales)










GRC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






GRC LIMITED (REGISTERED NUMBER: 04069472)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


GRC LIMITED (REGISTERED NUMBER: 04069472)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,371 40,134
Investments 5 54,925 48,788
83,296 88,922

CURRENT ASSETS
Debtors 6 - 194
Cash at bank and in hand 94,980 20,382
94,980 20,576
CREDITORS
Amounts falling due within one year 7 39,170 9,475
NET CURRENT ASSETS 55,810 11,101
TOTAL ASSETS LESS CURRENT LIABILITIES 139,106 100,023

PROVISIONS FOR LIABILITIES 7,650 10,530
NET ASSETS 131,456 89,493

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 131,454 89,491
SHAREHOLDERS' FUNDS 131,456 89,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 24th January 2025 and were signed on its behalf by:



P K Stewart - Director


GRC LIMITED (REGISTERED NUMBER: 04069472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

GRC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04069472

Registered office: Water Gate
The New Walk
York
Yorkshire
YO10 4BU

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

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.
Computer equipment - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes cost directly attributable to making the asset capable of operating as intended.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

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.

Interest receivable
Interest is recognised within the profit and loss account as it accrues.

GRC LIMITED (REGISTERED NUMBER: 04069472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Investments
Investments held as fixed assets are stated at market value.

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023
and 30th September 2024 49,523
DEPRECIATION
At 1st October 2023 9,389
Charge for year 11,763
At 30th September 2024 21,152
NET BOOK VALUE
At 30th September 2024 28,371
At 30th September 2023 40,134

GRC LIMITED (REGISTERED NUMBER: 04069472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st October 2023 48,788
Additions 44,895
Disposals (43,948 )
Revaluations 5,190
At 30th September 2024 54,925
NET BOOK VALUE
At 30th September 2024 54,925
At 30th September 2023 48,788

If fixed asset investments had not been revalued they would have been included at historical cost: £49,382 (2023: £46,803).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 194

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 29,066 3,180
Other creditors 10,104 6,295
39,170 9,475

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2