Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 1,350 | 1,350 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand | 5 |
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| 824,865 | 819,683 | |||
| Creditors: amounts falling due within one year | 6 | (
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(
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| Net current assets | 394,649 | 381,066 | ||
| Total assets less current liabilities | 395,999 | 382,416 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Balanced Grid Works Limited (registered number:
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I Tisalita
Director |
T L Smith
Director |
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.
Balanced Grid Works 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Income from the sale of investments, specifically the sale of shares in subsidiary undertakings. Revenue from the disposal of such investments is recognised on the completion date of the sale agreement, when control and risks of ownership have transferred to the purchaser and the amount of consideration can be reliably measured.
Recharged expenses to subsidiary companies, which are recognised as turnover when the related costs are incurred and the amounts are contractually recoverable from the subsidiaries.
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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
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| Cost | |
| At 01 July 2023 |
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| At 30 June 2024 |
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| Carrying value at 30 June 2024 |
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| Carrying value at 30 June 2023 |
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| Investments in associates | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 July 2023 |
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| At 30 June 2024 |
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| Carrying value at 30 June 2024 |
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| Carrying value at 30 June 2023 |
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| £ | £ | ||
| Amounts owed by own subsidiaries |
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| Amounts owed by associates |
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| VAT recoverable |
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| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to joint ventures |
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| Accruals |
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| Other taxation and social security |
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| Other creditors |
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Amounts owed to Group undertakings are repayable on demand and do not bear interest.