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Company No: 03963433 (England and Wales)

GRUNWALD LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

GRUNWALD LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

GRUNWALD LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
GRUNWALD LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS Catherine Causebrook
James Nicholas Causebrook
Samantha Laurin Smith
REGISTERED OFFICE 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
United Kingdom
BUSINESS ADDRESS Blankney Grange Unit 1
Longwood Lane
Blankney
Lincoln
England
LN4 3BD
COMPANY NUMBER 03963433 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
GRUNWALD LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
GRUNWALD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 16,030 15,930
16,030 15,930
Current assets
Stocks 4 68,640 71,594
Debtors 5 572,253 646,123
Cash at bank and in hand 102,813 161,796
743,706 879,513
Creditors: amounts falling due within one year 6 ( 596,687) ( 550,583)
Net current assets 147,019 328,930
Total assets less current liabilities 163,049 344,860
Creditors: amounts falling due after more than one year 7 ( 6,107) ( 16,437)
Provision for liabilities ( 3,457) ( 3,527)
Net assets 153,485 324,896
Capital and reserves
Called-up share capital 8 27 27
Profit and loss account 153,458 324,869
Total shareholders' funds 153,485 324,896

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Grunwald Limited (registered number: 03963433) were approved and authorised for issue by the Board of Directors on 05 March 2025. They were signed on its behalf by:

James Nicholas Causebrook
Director
GRUNWALD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
GRUNWALD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grunwald Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Northgate, Sleaford, Lincolnshire, NG34 7BJ, United Kingdom. The principal place of business is Blankney Grange Unit 1, Longwood Lane, Blankney, Lincoln, England, LN4 3BD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 10 - 25 % reducing balance
Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 15

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2023 2,498 50,846 53,344
Additions 0 3,751 3,751
At 31 October 2024 2,498 54,597 57,095
Accumulated depreciation
At 01 November 2023 677 36,737 37,414
Charge for the financial year 182 3,469 3,651
At 31 October 2024 859 40,206 41,065
Net book value
At 31 October 2024 1,639 14,391 16,030
At 31 October 2023 1,821 14,109 15,930

4. Stocks

2024 2023
£ £
Stocks 68,640 71,594

5. Debtors

2024 2023
£ £
Trade debtors 287,496 325,616
Amounts owed by related parties 91,816 175,315
Other debtors 192,941 145,192
572,253 646,123

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,355 10,100
Trade creditors 172,334 376,854
Taxation and social security 151,686 142,961
Other creditors 262,312 20,668
596,687 550,583

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,107 16,437

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 A ordinary shares of £ 0.20 each 18 18
20 B ordinary shares of £ 0.20 each 4 4
10 C ordinary shares of £ 0.20 each 2 2
13 D ordinary shares of £ 0.20 each 3 3
27 27

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balances outstanding at start of year 143,418 139,505
Amounts advanced 176,887 145,050
Amounts repaid (144,241) (141,137)
Balance outstanding at the end of year 176,064 143,418

Individual balances owed from the Directors are J N Causebrook £61,842 (2023: £50,406), Mrs C Causebrook £57,984 (2023: £45,414) and Mrs S L Smith £56,238 (2023: £47,598).

Interest on overdrawn directors current accounts is charged at the official rate. Loans made to the directors are unsecured and repayable on demand.