1 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 03010794 2023-11-01 2024-10-31 03010794 2024-10-31 03010794 2023-10-31 03010794 2022-11-01 2023-10-31 03010794 2023-10-31 03010794 2022-10-31 03010794 core:PlantMachinery 2023-11-01 2024-10-31 03010794 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 03010794 bus:RegisteredOffice 2023-11-01 2024-10-31 03010794 bus:Director1 2023-11-01 2024-10-31 03010794 bus:Director2 2023-11-01 2024-10-31 03010794 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 03010794 core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 03010794 core:WithinOneYear 2024-10-31 03010794 core:WithinOneYear 2023-10-31 03010794 core:ShareCapital 2024-10-31 03010794 core:ShareCapital 2023-10-31 03010794 core:RetainedEarningsAccumulatedLosses 2024-10-31 03010794 core:RetainedEarningsAccumulatedLosses 2023-10-31 03010794 core:ShareCapital 2022-10-31 03010794 core:RetainedEarningsAccumulatedLosses 2022-10-31 03010794 core:PreviouslyStatedAmount core:ShareCapital 2024-10-31 03010794 bus:SmallEntities 2023-11-01 2024-10-31 03010794 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 03010794 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 03010794 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03010794 bus:AbridgedAccounts 2023-11-01 2024-10-31
Company registration number: 03010794
The Grass Roots Trading Company Ltd
Unaudited filleted abridged financial statements
31 October 2024
The Grass Roots Trading Company Ltd
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
The Grass Roots Trading Company Ltd
Directors and other information
Directors J S Bennett
S Baker (Resigned 29 February 2024)
Company number 03010794
Registered office 49 Ashley Road
Farnborough
Surrey
The Grass Roots Trading Company Ltd
Abridged statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 105,914 79,122
Debtors 110,871 72,099
Cash at bank and in hand 45,561 120,830
_______ _______
262,346 272,051
Creditors: amounts falling due
within one year ( 168,009) ( 234,852)
_______ _______
Net current assets 94,337 37,199
_______ _______
Total assets less current liabilities 94,337 37,199
_______ _______
Net assets 94,337 37,199
_______ _______
Capital and reserves
Called up share capital 25,000 25,000
Profit and loss account 69,337 12,199
_______ _______
Shareholders funds 94,337 37,199
_______ _______
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
The members agreed to the preparation of abridged accounts for the current year in accordance with section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 22 April 2025 , and are signed on behalf of the board by:
J S Bennett
Director
Company registration number: 03010794
The Grass Roots Trading Company Ltd
Statement of changes in equity
Year ended 31 October 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2022 25,000 ( 5,809) 19,191
Profit for the year 29,668 29,668
_______ _______ _______
Total comprehensive income for the year - 29,668 29,668
Dividends paid and payable ( 11,660) ( 11,660)
_______ _______ _______
Total investments by and distributions to owners - ( 11,660) ( 11,660)
_______ _______ _______
At 31 October 2023 and 1 November 2023 25,000 12,199 37,199
Profit for the year 137,214 137,214
_______ _______ _______
Total comprehensive income for the year - 137,214 137,214
Dividends paid and payable ( 80,076) ( 80,076)
_______ _______ _______
Total investments by and distributions to owners - ( 80,076) ( 80,076)
_______ _______ _______
At 31 October 2024 25,000 69,337 94,337
_______ _______ _______
The Grass Roots Trading Company Ltd
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 49 Ashley Road, Farnborough, Surrey.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling , which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 30 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: Nil).
5. Tangible assets
£
Cost
At 1 November 2023 and 31 October 2024 22,690
_______
Depreciation
At 1 November 2023 and 31 October 2024 22,690
_______
Carrying amount
At 31 October 2024 -
_______
At 31 October 2023 -
_______
6. Controlling party
The company is controlled by the directors.