1 April 2024 v2025.28.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP013575712024-04-012025-03-31013575712025-03-31013575712024-03-3101357571core:WithinOneYear2025-03-3101357571core:WithinOneYear2024-03-3101357571core:AfterOneYear2025-03-3101357571core:AfterOneYear2024-03-3101357571core:ShareCapital2025-03-3101357571core:ShareCapital2024-03-3101357571core:RetainedEarningsAccumulatedLosses2025-03-3101357571core:RetainedEarningsAccumulatedLosses2024-03-3101357571bus:Director12024-04-012025-03-3101357571bus:RegisteredOffice2024-04-012025-03-3101357571core:LandBuildings2024-04-012025-03-3101357571core:PlantMachinery2024-04-012025-03-3101357571core:FurnitureFittingsToolsEquipment2024-04-012025-03-3101357571core:MotorVehicles2024-04-012025-03-31013575712023-04-012024-03-3101357571core:NetGoodwill2025-03-3101357571core:LandBuildings2024-04-0101357571core:PlantMachinery2024-04-01013575712024-04-0101357571core:LandBuildings2025-03-3101357571core:PlantMachinery2025-03-3101357571core:LandBuildings2024-03-3101357571core:PlantMachinery2024-03-310135757112024-04-012025-03-3101357571countries:EnglandWales2024-04-012025-03-3101357571bus:AuditExemptWithAccountantsReport2024-04-012025-03-3101357571bus:PrivateLimitedCompanyLtd2024-04-012025-03-3101357571bus:SmallEntities2024-04-012025-03-3101357571bus:FullAccounts2024-04-012025-03-31
Company registration number:
01357571
Greers Of Elgin Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2025
Greers Of Elgin Limited
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Tangible assets 6
202,974
 
183,150
 
Current assets    
Stocks
8,927
 
7,315
 
Debtors 7
48,735
 
65,696
 
Cash at bank and in hand
43,108
 
59,325
 
100,770
 
132,336
 
Creditors: amounts falling due within one year 8
(142,454
)
(194,837
)
Net current liabilities
(41,684
)
(62,501
)
Total assets less current liabilities 161,290   120,649  
Creditors: amounts falling due after more than one year 9
(70,905
)
(70,963
)
Provisions for liabilities
(21,069
)
(13,201
)
Net assets
69,316
 
36,485
 
Capital and reserves    
Called up share capital
85,000
 
85,000
 
Profit and loss account
(15,684
)
(48,515
)
Shareholders funds
69,316
 
36,485
 
For the year ending
31 March 2025
, 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
13 May 2025
, and are signed on behalf of the board by:
C Grieveson
Director
Company registration number:
01357571
Greers Of Elgin Limited
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
44 Kirkgate
,
Ripon
,
HG4 1PB
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over term of lease
Plant and machinery
10% reducing balance
Fixtures, fittings and equipment
10% reducing balance
Motor vehicles
10% straight line

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.

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.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
10
(2024:
10.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2024
and
31 March 2025
30,000
 
Amortisation  
At
1 April 2024
and
31 March 2025
30,000
 
Carrying amount  
At
31 March 2025
-  
At 31 March 2024 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2024
21,378
 
488,281
 
509,659
 
Additions -  
59,953
 
59,953
 
Disposals -  
(71,191
)
(71,191
)
At
31 March 2025
21,378
 
477,043
 
498,421
 
Depreciation      
At
1 April 2024
18,768
 
307,741
 
326,509
 
Charge
312
 
28,787
 
29,099
 
Disposals -  
(60,161
)
(60,161
)
At
31 March 2025
19,080
 
276,367
 
295,447
 
Carrying amount      
At
31 March 2025
2,298
 
200,676
 
202,974
 
At 31 March 2024
2,610
 
180,540
 
183,150
 

7 Debtors

20252024
££
Trade debtors
31,273
 
25,454
 
Other debtors
17,462
 
40,242
 
48,735
 
65,696
 

8 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
6,000
 
6,000
 
Trade creditors
32,394
 
66,263
 
Taxation and social security
21,930
 
16,493
 
Other creditors
82,130
 
106,081
 
142,454
 
194,837
 
Included in creditors due within one year is £39,677 (2024 - £35,489) which is secured.

9 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
1,000
 
7,000
 
Other creditors
69,905
 
63,963
 
70,905
 
70,963
 
Included in creditors due after more than one year is £70,905 (2024 - £70,963) which is secured