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REGISTERED NUMBER: 05685932 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Grip Services Limited

Grip Services Limited (Registered number: 05685932)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grip Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: M L Peters





SECRETARY: Mrs L P Jarman





REGISTERED OFFICE: Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG





REGISTERED NUMBER: 05685932 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG

Grip Services Limited (Registered number: 05685932)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 71,902 92,266
71,902 92,266

CURRENT ASSETS
Debtors 6 37,591 74,632
Cash at bank 139,006 80,863
176,597 155,495
CREDITORS
Amounts falling due within one year 7 109,568 105,628
NET CURRENT ASSETS 67,029 49,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,931

142,133

CREDITORS
Amounts falling due after more than one year 8 (8,678 ) (13,638 )

PROVISIONS FOR LIABILITIES - (3,130 )
NET ASSETS 130,253 125,365

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 130,153 125,265
SHAREHOLDERS' FUNDS 130,253 125,365

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 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.

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 26 February 2025 and were signed by:





M L Peters - Director


Grip Services Limited (Registered number: 05685932)

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

1. STATUTORY INFORMATION

Grip Services 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - written off as incurred
Plant and machinery - 15% on reducing balance basis
Motor vehicles - 25% on reducing balance basis
Computer equipment - 33.33% on reducing balance basis

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

Grip Services Limited (Registered number: 05685932)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 30,000
AMORTISATION
At 1 June 2023
and 31 May 2024 30,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 5,583 180,154 199,315 5,050 390,102
Disposals - - (6,652 ) - (6,652 )
At 31 May 2024 5,583 180,154 192,663 5,050 383,450
DEPRECIATION
At 1 June 2023 5,583 152,227 135,498 4,528 297,836
Charge for year - 4,189 15,939 174 20,302
Eliminated on disposal - - (6,590 ) - (6,590 )
At 31 May 2024 5,583 156,416 144,847 4,702 311,548
NET BOOK VALUE
At 31 May 2024 - 23,738 47,816 348 71,902
At 31 May 2023 - 27,927 63,817 522 92,266

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,585 36,294
Other debtors 1,737 1,733
Deferred tax asset 765 -
Prepayments 26,504 27,261
Accrued Income - 9,344
37,591 74,632

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,959 4,959
Trade creditors 41,974 62,373
Tax 36,513 17,781
Social security and other taxes 12,544 7,300
Directors' loan accounts 2,733 3,498
Accrued expenses 10,845 9,717
109,568 105,628

Grip Services Limited (Registered number: 05685932)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire Purchase 8,678 13,638

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained
earnings
£   

At 1 June 2023 125,265
Profit for the year 52,888
Dividends (48,000 )
At 31 May 2024 130,153

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 (2023 - £48,000) were paid to the director .