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Company No: 04284331 (England and Wales)

MALLORY GRANT LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

MALLORY GRANT LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

MALLORY GRANT LIMITED

BALANCE SHEET

As at 30 September 2024
MALLORY GRANT LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,677 3,796
Tangible assets 4 5,878 5,766
8,555 9,562
Current assets
Stocks 366,230 522,952
Debtors 5 391,992 348,939
Cash at bank and in hand 194,086 187,895
952,308 1,059,786
Creditors: amounts falling due within one year 6 ( 56,840) ( 156,818)
Net current assets 895,468 902,968
Total assets less current liabilities 904,023 912,530
Provision for liabilities 0 ( 900)
Net assets 904,023 911,630
Capital and reserves
Called-up share capital 7 5,000 5,000
Other reserves 5,000 5,000
Profit and loss account 894,023 901,630
Total shareholder's funds 904,023 911,630

For the financial year ending 30 September 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 Mallory Grant Limited (registered number: 04284331) were approved and authorised for issue by the Board of Directors on 21 May 2025. They were signed on its behalf by:

Mrs S J Wildbore
Director
MALLORY GRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
MALLORY GRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Mallory Grant 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 The Granary Highfield Farm, Clyst Road, Topsham, Exeter, EX3 0BY, United Kingdom.

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 Balance Sheet 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Website costs 5 years straight line
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 basis over its expected useful life, as follows:

Leasehold improvements 7 years straight line
Plant and machinery 6 - 7 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 11

3. Intangible assets

Computer software Website costs Total
£ £ £
Cost
At 01 October 2023 17,055 26,345 43,400
Additions 0 1,175 1,175
At 30 September 2024 17,055 27,520 44,575
Accumulated amortisation
At 01 October 2023 16,924 22,680 39,604
Charge for the financial year 117 2,177 2,294
At 30 September 2024 17,041 24,857 41,898
Net book value
At 30 September 2024 14 2,663 2,677
At 30 September 2023 131 3,665 3,796

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 October 2023 7,304 33,837 6,500 34,404 186,791 268,836
Additions 0 0 0 0 2,173 2,173
At 30 September 2024 7,304 33,837 6,500 34,404 188,964 271,009
Accumulated depreciation
At 01 October 2023 7,304 33,837 6,500 32,526 182,903 263,070
Charge for the financial year 0 0 0 866 1,195 2,061
At 30 September 2024 7,304 33,837 6,500 33,392 184,098 265,131
Net book value
At 30 September 2024 0 0 0 1,012 4,866 5,878
At 30 September 2023 0 0 0 1,878 3,888 5,766

5. Debtors

2024 2023
£ £
Trade debtors 314,976 327,414
Amounts owed by Parent undertakings 56,526 0
Prepayments 12,070 11,157
VAT recoverable 8,406 10,232
Other debtors 14 136
391,992 348,939

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 18,370 12,266
Amounts owed to Parent undertakings 0 108,474
Accruals 12,728 11,562
Other taxation and social security 24,533 23,149
Other creditors 1,209 1,367
56,840 156,818

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each 5,000 5,000