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REGISTERED NUMBER: NI635907 (Northern Ireland)















Financial Statements for the Year Ended 30 November 2024

for

GRG Foods Ltd

GRG Foods Ltd (Registered number: NI635907)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRG Foods Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: G Irvine





REGISTERED OFFICE: 62 Main Street
Maguiresbridge
Enniskillen
Co. Fermanagh
BT94 4RZ





REGISTERED NUMBER: NI635907 (Northern Ireland)





ACCOUNTANTS: Dundas Gallagher
Chartered Accountants and Statutory Auditors
Thistlebank House
2 Old Henry Street
Enniskillen
Co. Fermanagh
BT74 7JX

GRG Foods Ltd (Registered number: NI635907)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 760,695 721,597
760,695 721,597

CURRENT ASSETS
Stocks 148,591 150,802
Debtors 6 395,596 269,154
Cash at bank 22,541 28,446
566,728 448,402
CREDITORS
Amounts falling due within one year 7 706,017 630,417
NET CURRENT LIABILITIES (139,289 ) (182,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,406

539,582

CREDITORS
Amounts falling due after more than one
year

8

(91,096

)

(148,746

)

PROVISIONS FOR LIABILITIES (52,563 ) (55,788 )
NET ASSETS 477,747 335,048

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 54,528 54,528
Retained earnings 423,209 280,510
477,747 335,048

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

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

GRG Foods Ltd (Registered number: NI635907)

Balance Sheet - continued
30 November 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 director and authorised for issue on 23 May 2025 and were signed by:





G Irvine - Director


GRG Foods Ltd (Registered number: NI635907)

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

1. STATUTORY INFORMATION

GRG Foods Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.
Freehold property - 2% on cost
Improvements to property - 20% on cost
Plant and machinery - 12.5% on cost
Motor vehicles - 12.5% on cost

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.

GRG Foods Ltd (Registered number: NI635907)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 46,400
AMORTISATION
At 1 December 2023
and 30 November 2024 46,400
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 495,305 557,401 1,052,706
Additions 9,394 122,643 132,037
At 30 November 2024 504,699 680,044 1,184,743
DEPRECIATION
At 1 December 2023 42,320 288,789 331,109
Charge for year 10,094 82,845 92,939
At 30 November 2024 52,414 371,634 424,048
NET BOOK VALUE
At 30 November 2024 452,285 308,410 760,695
At 30 November 2023 452,985 268,612 721,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 336,949 259,729
Other debtors 58,647 9,425
395,596 269,154

GRG Foods Ltd (Registered number: NI635907)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 79,542 79,549
Hire purchase contracts 15,423 30,085
Trade creditors 312,987 358,587
Taxation and social security 94,247 35,717
Other creditors 203,818 126,479
706,017 630,417

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 77,846 143,890
Hire purchase contracts 13,250 4,856
91,096 148,746