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REGISTERED NUMBER: 03101415 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Griptrak (Midlands) Limited

Griptrak (Midlands) Limited (Registered number: 03101415)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Griptrak (Midlands) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: K Grewcock
Dr L J Grewcock





SECRETARY: Dr L J Grewcock





REGISTERED OFFICE: 4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR





REGISTERED NUMBER: 03101415 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Griptrak (Midlands) Limited (Registered number: 03101415)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 404,943 415,141
Investments 6 10 10
404,953 415,151

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 7 1,475,973 2,071,485
Cash at bank and in hand 1,135,019 870,986
2,635,992 2,967,471
CREDITORS
Amounts falling due within one year 8 465,086 796,661
NET CURRENT ASSETS 2,170,906 2,170,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,575,859

2,585,961

PROVISIONS FOR LIABILITIES 17,295 10,627
NET ASSETS 2,558,564 2,575,334

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,557,564 2,574,334
2,558,564 2,575,334

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Griptrak (Midlands) Limited (Registered number: 03101415)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:





K Grewcock - Director


Griptrak (Midlands) Limited (Registered number: 03101415)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Griptrak (Midlands) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest pound (£).

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
Revenue is measured at fair value of the right to consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Cherished vehicle numbers
Amortisation has been calculated to write down the cost of the cherished vehicle numbers, over their expected useful lives at a rate of 10% per annum of cost.

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.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Griptrak (Midlands) Limited (Registered number: 03101415)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

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 51 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Cherished
vehicle
numbers
£   
COST
At 1 July 2023
and 30 June 2024 10,431
AMORTISATION
At 1 July 2023
and 30 June 2024 10,431
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 262,359 10,725 197,802 390,420 861,306
Additions - - - 100,624 100,624
Disposals - - - (99,689 ) (99,689 )
At 30 June 2024 262,359 10,725 197,802 391,355 862,241
DEPRECIATION
At 1 July 2023 90,932 9,100 162,256 183,877 446,165
Charge for year 5,247 325 5,332 52,501 63,405
Eliminated on disposal - - - (52,272 ) (52,272 )
At 30 June 2024 96,179 9,425 167,588 184,106 457,298
NET BOOK VALUE
At 30 June 2024 166,180 1,300 30,214 207,249 404,943
At 30 June 2023 171,427 1,625 35,546 206,543 415,141

Griptrak (Midlands) Limited (Registered number: 03101415)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 10
NET BOOK VALUE
At 30 June 2024 10
At 30 June 2023 10

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,475,973 2,071,485

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 338,535 503,055
Taxation and social security 111,829 266,057
Other creditors 14,722 27,549
465,086 796,661

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
K Grewcock and Dr L J Grewcock
Balance outstanding at start of year (847 ) 65,864
Amounts advanced 847 43,839
Amounts repaid - (110,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (847 )