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REGISTERED NUMBER: SC487894 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

GRANITE CITY EVENTS LTD

GRANITE CITY EVENTS LTD (REGISTERED NUMBER: SC487894)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

GRANITE CITY EVENTS LTD

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: B J Sherriffs





REGISTERED OFFICE: 18 Gairnshiel Avenue
Aberdeen
AB16 5RS





REGISTERED NUMBER: SC487894 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

GRANITE CITY EVENTS LTD (REGISTERED NUMBER: SC487894)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 194,250 191,097

CURRENT ASSETS
Debtors 5 28,693 33,871
Cash at bank and in hand 13,135 29,084
41,828 62,955
CREDITORS
Amounts falling due within one year 6 80,463 89,352
NET CURRENT LIABILITIES (38,635 ) (26,397 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,615

164,700

CREDITORS
Amounts falling due after more than one year 7 (28,743 ) (27,242 )

PROVISIONS FOR LIABILITIES 8 (46,619 ) (45,831 )
NET ASSETS 80,253 91,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80,153 91,527
SHAREHOLDERS' FUNDS 80,253 91,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 4 March 2025 and were signed by:





B J Sherriffs - Director


GRANITE CITY EVENTS LTD (REGISTERED NUMBER: SC487894)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Granite City Events Ltd is a private company, limited by shares , registered in Scotland. 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 (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 3 ) .

GRANITE CITY EVENTS LTD (REGISTERED NUMBER: SC487894)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 341,533 49,522 11,680 402,735
Additions 32,226 25,995 2,831 61,052
Disposals - (9,995 ) - (9,995 )
At 31 October 2024 373,759 65,522 14,511 453,792
DEPRECIATION
At 1 November 2023 178,323 27,667 5,648 211,638
Charge for year 44,580 8,802 2,080 55,462
Eliminated on disposal - (7,558 ) - (7,558 )
At 31 October 2024 222,903 28,911 7,728 259,542
NET BOOK VALUE
At 31 October 2024 150,856 36,611 6,783 194,250
At 31 October 2023 163,210 21,855 6,032 191,097

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2023 46,511 23,995 70,506
Additions - 25,995 25,995
At 31 October 2024 46,511 49,990 96,501
DEPRECIATION
At 1 November 2023 17,482 9,364 26,846
Charge for year 7,257 7,990 15,247
At 31 October 2024 24,739 17,354 42,093
NET BOOK VALUE
At 31 October 2024 21,772 32,636 54,408
At 31 October 2023 29,029 14,631 43,660

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,696 9,234
VAT - 10,202
Prepayments and accrued income 3,997 14,435
28,693 33,871

GRANITE CITY EVENTS LTD (REGISTERED NUMBER: SC487894)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,833 10,833
Hire purchase contracts 10,065 12,297
Trade creditors 5,768 43,204
Tax 5,998 -
Social security and other taxes 592 495
VAT 7,419 -
Other creditors 295 -
Directors' current accounts 37,060 20,276
Accrued expenses 2,433 2,247
80,463 89,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,834 12,500
Bank loans - 2-5 years - 3,334
Hire purchase contracts 22,909 11,408
28,743 27,242

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 46,619 45,831

Deferred
tax
£   
Balance at 1 November 2023 45,831
Provided during year 788
Movement
Balance at 31 October 2024 46,619

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
B J Sherriffs
Balance outstanding at start of year (20,276 ) (6,896 )
Amounts advanced 2,958 632
Amounts repaid (19,742 ) (14,012 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37,060 ) (20,276 )

This loan is interest free and has no fixed repayment period.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRANITE CITY EVENTS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Granite City Events Ltd for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Granite City Events Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Granite City Events Ltd and state those matters that we have agreed to state to the director of Granite City Events Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Granite City Events Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Granite City Events Ltd. You consider that Granite City Events Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Granite City Events Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


7 May 2025