Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-10-01false10296falsetruefalse NI012273 2023-10-01 2024-09-30 NI012273 2022-10-01 2023-09-30 NI012273 2024-09-30 NI012273 2023-09-30 NI012273 2022-10-01 NI012273 1 2023-10-01 2024-09-30 NI012273 d:CompanySecretary1 2023-10-01 2024-09-30 NI012273 d:Director1 2023-10-01 2024-09-30 NI012273 d:Director2 2023-10-01 2024-09-30 NI012273 d:RegisteredOffice 2023-10-01 2024-09-30 NI012273 d:Agent1 2023-10-01 2024-09-30 NI012273 c:Buildings 2023-10-01 2024-09-30 NI012273 c:Buildings 2024-09-30 NI012273 c:Buildings 2023-09-30 NI012273 c:Buildings c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI012273 c:Buildings c:LongLeaseholdAssets 2023-10-01 2024-09-30 NI012273 c:Buildings c:LongLeaseholdAssets 2024-09-30 NI012273 c:Buildings c:LongLeaseholdAssets 2023-09-30 NI012273 c:PlantMachinery 2023-10-01 2024-09-30 NI012273 c:PlantMachinery 2024-09-30 NI012273 c:PlantMachinery 2023-09-30 NI012273 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI012273 c:MotorVehicles 2023-10-01 2024-09-30 NI012273 c:MotorVehicles 2024-09-30 NI012273 c:MotorVehicles 2023-09-30 NI012273 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI012273 c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI012273 c:CurrentFinancialInstruments 2024-09-30 NI012273 c:CurrentFinancialInstruments 2023-09-30 NI012273 c:Non-currentFinancialInstruments 2024-09-30 NI012273 c:Non-currentFinancialInstruments 2023-09-30 NI012273 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 NI012273 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 NI012273 c:Non-currentFinancialInstruments c:AfterOneYear 2024-09-30 NI012273 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 NI012273 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-09-30 NI012273 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-09-30 NI012273 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-09-30 NI012273 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-09-30 NI012273 c:ShareCapital 2024-09-30 NI012273 c:ShareCapital 2023-09-30 NI012273 c:SharePremium 2023-10-01 2024-09-30 NI012273 c:RevaluationReserve 2023-10-01 2024-09-30 NI012273 c:RevaluationReserve 2024-09-30 NI012273 c:RevaluationReserve 2023-09-30 NI012273 c:OtherMiscellaneousReserve 2024-09-30 NI012273 c:OtherMiscellaneousReserve 2023-09-30 NI012273 c:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 NI012273 c:RetainedEarningsAccumulatedLosses 2024-09-30 NI012273 c:RetainedEarningsAccumulatedLosses 2023-09-30 NI012273 c:AcceleratedTaxDepreciationDeferredTax 2024-09-30 NI012273 c:AcceleratedTaxDepreciationDeferredTax 2023-09-30 NI012273 c:TaxLossesCarry-forwardsDeferredTax 2024-09-30 NI012273 c:TaxLossesCarry-forwardsDeferredTax 2023-09-30 NI012273 d:OrdinaryShareClass1 2023-10-01 2024-09-30 NI012273 d:OrdinaryShareClass1 2024-09-30 NI012273 d:OrdinaryShareClass1 2023-09-30 NI012273 d:FRS102 2023-10-01 2024-09-30 NI012273 d:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI012273 d:FullAccounts 2023-10-01 2024-09-30 NI012273 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI012273 c:EntityControlledByKeyManagementPersonnel1 2023-10-01 2024-09-30 NI012273 c:EntityControlledByKeyManagementPersonnel1 2024-09-30 NI012273 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 NI012273 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-30 NI012273 c:WithinOneYear 2024-09-30 NI012273 c:WithinOneYear 2023-09-30 NI012273 c:BetweenOneFiveYears 2024-09-30 NI012273 c:BetweenOneFiveYears 2023-09-30 NI012273 c:MoreThanFiveYears 2024-09-30 NI012273 c:MoreThanFiveYears 2023-09-30 NI012273 2 2023-10-01 2024-09-30 NI012273 5 2023-10-01 2024-09-30 NI012273 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Unaudited Financial Statements
Grants Electrical Services (NI) Limited
For the year ended 30 September 2024





































Registered number: NI012273

 
Grants Electrical Services (NI) Limited
 

Company Information


Directors
D Moore 
R C Paul 




Company secretary
D Moore



Registered number
NI012273



Registered office
18a Pennybridge Industrial Estate

Ballymena

Northern Ireland

BT42 3HB




Accountants
Grant Thornton Advisors (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Ulster Bank Limitied
The Diamond

Coleraine

BT52 1DP




Solicitors
Anderson Agnew & Co
14 Mill Street

Ballymena

Co. Antrim

BT43 5AE





 
Grants Electrical Services (NI) Limited
 

Contents



Page
Accountants' Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 15


  
img773b.png
Independent Accountant's Report to the directors of the unaudited financial statements of Grants Electrical Services (NI) Limited for the year ended 30 September 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Grants Electrical Services (NI) Limited for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes In Equity, and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of Grants Electrical Services (NI) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Grants Electrical Services (NI) Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grants Electrical Services (NI) Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the year ended 30 September 2024 and you have acknowledged on the Balance Sheet as at 30 September 2024 your duty to ensure that Grants Electrical Services (NI) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Grants Electrical Services (NI) Limited is exempt from the statutory audit requirement for the year ended 30 September 2024.

We have not been instructed to carry out an audit or review the financial statements of Grants Electrical Services (NI) Limited. 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. 




  


Grant Thornton Advisors (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   20 June 2025
Page 1

 
Grants Electrical Services (NI) Limited
Registered number:NI012273

Balance Sheet
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
859,367
794,540

  
859,367
794,540

Current assets
  

Stocks
 6 
1,202,239
1,664,145

Debtors: amounts falling due within one year
 7 
1,873,749
2,137,488

Cash at bank and in hand
 8 
96,519
16,202

  
3,172,507
3,817,835

Creditors: amounts falling due within one year
 9 
(1,549,350)
(1,971,790)

Net current assets
  
 
 
1,623,157
 
 
1,846,045

Total assets less current liabilities
  
2,482,524
2,640,585

Creditors: amounts falling due after more than one year
 10 
(11,529)
(20,001)

Provisions for liabilities
  

Deferred tax
 12 
(66,173)
(65,542)

  
 
 
(66,173)
 
 
(65,542)

Net assets
  
2,404,822
2,555,042


Capital and reserves
  

Called up share capital 
 13 
230,000
230,000

Revaluation reserve
 14 
521,805
521,805

Other reserves
 14 
29,033
29,033

Profit and loss account
 14 
1,623,984
1,774,204

  
2,404,822
2,555,042


Page 2

 
Grants Electrical Services (NI) Limited
Registered number:NI012273

Balance Sheet (continued)
As at 30 September 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2025.




D Moore
Director

The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

1.


General information

Grant's Electrical Services (NI) Limited is a private company limited by shares incorporated and domiciled in United Kingdom. The address of its registered office is 18a Pennybridge Industrial Estate, Ballymena, Northern Ireland, BT42 3HB.
The principal activity of the Company is that of repairs of other equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
Grants Electrical Services (NI) Limited
 

Notes to the Financial Statements
For the year ended 30 September 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
Grants Electrical Services (NI) Limited
 

Notes to the Financial Statements
For the year ended 30 September 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 6

 
Grants Electrical Services (NI) Limited
 

Notes to the Financial Statements
For the year ended 30 September 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Leasehold improvements
-
5%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 7

 
Grants Electrical Services (NI) Limited
 

Notes to the Financial Statements
For the year ended 30 September 2024

2.Accounting policies (continued)

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 8

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.
b) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets. 
c) Carrying value of stock
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.


4.


Employees

The average monthly number of employees, including directors, during the year was 102 (2023 -96).

Page 9

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

5.


Tangible fixed assets





Freehold property
Leasehold improvements
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
525,000
187,023
931,946
12,300
1,656,269


Additions
-
79,542
47,764
-
127,306


Disposals
-
-
(37,398)
-
(37,398)



At 30 September 2024

525,000
266,565
942,312
12,300
1,746,177



Depreciation


At 1 October 2023
76,243
-
785,486
-
861,729


Charge for the year
10,500
11,697
36,936
3,346
62,479


Disposals
-
-
(37,398)
-
(37,398)



At 30 September 2024

86,743
11,697
785,024
3,346
886,810



Net book value



At 30 September 2024
438,257
254,868
157,288
8,954
859,367



At 30 September 2023
448,757
187,023
146,460
12,300
794,540


6.


Stocks

2024
2023
£
£

Work in progress
375,000
887,793

Finished goods and goods for resale
827,239
776,352

1,202,239
1,664,145




Page 10

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

7.


Debtors

2024
2023
£
£


Trade debtors
1,664,416
1,601,595

Amounts owed by group undertakings
10,687
10,687

Other debtors
168,727
514,389

Prepayments and accrued income
29,919
10,817

1,873,749
2,137,488


Amounts owed by related undertakings are unsecured, interest free and repayable on demand.


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
96,519
16,202

Less: bank overdrafts
(1,532)
(123,326)

94,987
(107,124)


Page 11

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,532
123,326

Bank loans
10,000
23,378

Trade creditors
882,077
1,388,811

Corporation tax
204,666
237,310

Other taxation and social security
380,035
158,459

Other creditors
23,131
26,235

Accruals and deferred income
47,909
14,271

1,549,350
1,971,790


Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms.
Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions.
Details of security provided:
The above bank loans and overdrafts are secured by and fixed and floating charge over the property of the company.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,529
20,001

11,529
20,001


Page 12

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
23,378


10,000
23,378

Amounts falling due 1-2 years

Bank loans
10,000
10,001


10,000
10,001

Amounts falling due 2-5 years

Bank loans
1,529
10,001


1,529
10,001


21,529
43,380


Page 13

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

12.


Deferred taxation




2024
2023


£

£






At beginning of year
65,542
62,704


Charged to profit or loss
631
2,838



At end of year
66,173
65,542

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
70,501
68,517

Short term timing differences
(4,328)
(2,975)

66,173
65,542


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



230,000 (2023 -230,000) Ordinary shares of £1.00 each
230,000
230,000



14.


Reserves

Share capital

Represents the nominal value of shares that have been issued. 

Revaluation reserve

This represents the accumulated increase in value of investment properties net of provision for deferred tax.

Profit and loss account

Includes all current and prior period retained profits and losses.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £94,146 (2023 - £62,750). Contributions totalling £17,312 (2023 - £11,901) were payable to the fund at the balance sheet date.

Page 14

 
Grants Electrical Services (NI) Limited
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

16.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
346,994
292,146

Later than 1 year and not later than 5 years
615,886
443,042

Later than 5 years
233,750
425,000

1,196,630
1,160,188


17.


Related party transactions

At the balance sheet date a company which is related by virtue of common control owed the company £10,687 (2023: £10,687).
During the year the company had net transactions of £343,024 with a Director. At the year end the amount owed to the Director was £1,729 (2023: £341,294 owed from). The loan is unsecured, interest free and repayable upon demand. 


18.


Comparative figures

Comparative figures have been restated to conform with current year presentation. This has had no impact on profit and loss reported. 


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