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Registration number: 09098608

GRS Controls Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 September 2024

 

GRS Controls Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

GRS Controls Limited

(Registration number: 09098608)
Balance Sheet as at 28 September 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

36,260

 

42,056

Current assets

   

 

Stocks

1,000

 

1,000

 

Debtors

5

14,382

 

26,539

 

Cash at bank and in hand

 

32,094

 

150,877

 

 

47,476

 

178,416

 

Creditors: Amounts falling due within one year

6

(48,037)

 

(168,944)

 

Net current (liabilities)/assets

   

(561)

 

9,472

Total assets less current liabilities

   

35,699

 

51,528

Provisions for liabilities

 

(9,065)

 

(10,513)

Net assets

   

26,634

 

41,015

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Retained earnings

26,534

 

40,915

 

Shareholders' funds

   

26,634

 

41,015

 

GRS Controls Limited

(Registration number: 09098608)
Balance Sheet as at 28 September 2024

For the financial year ending 28 September 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

.........................................
G R Sharrocks
Director

 

GRS Controls Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 Footwood Crescent
Rochdale
OL12 6PB

These financial statements were authorised for issue by the Board on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

GRS Controls Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Plant and machinery

15% reducing balance basis

Office equipment

15% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

GRS Controls Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

 

GRS Controls Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 29 September 2023

54,375

24,190

11,230

89,795

Additions

-

-

2,915

2,915

At 28 September 2024

54,375

24,190

14,145

92,710

Depreciation

At 29 September 2023

33,095

9,216

5,428

47,739

Charge for the year

5,320

2,246

1,145

8,711

At 28 September 2024

38,415

11,462

6,573

56,450

Carrying amount

At 28 September 2024

15,960

12,728

7,572

36,260

At 28 September 2023

21,280

14,974

5,802

42,056

5

Debtors

Current

2024
£

2023
£

Trade debtors

13,710

25,221

Prepayments

672

1,318

 

14,382

26,539

 

GRS Controls Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

9,297

139,034

Trade creditors

 

8,301

14,881

Taxation and social security

 

25,496

12,579

Accruals and deferred income

 

3,260

2,450

Other creditors

 

1,683

-

 

48,037

168,944

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

9,297

139,034

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

9,297

2023

Key management
£

Amounts payable to related party

139,034