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COMPANY REGISTRATION NUMBER: 05213040
The Granite House Limited
Filleted Unaudited Financial Statements
31 October 2024
The Granite House Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
256,089
288,942
Current assets
Stocks
74,173
82,161
Debtors
6
232,403
119,342
Cash at bank and in hand
498,049
554,298
---------
---------
804,625
755,801
Creditors: amounts falling due within one year
7
294,934
341,153
---------
---------
Net current assets
509,691
414,648
---------
---------
Total assets less current liabilities
765,780
703,590
Creditors: amounts falling due after more than one year
8
30,341
46,650
Provisions
Taxation including deferred tax
64,023
60,678
---------
---------
Net assets
671,416
596,262
---------
---------
Capital and reserves
Called up share capital
129
129
Profit and loss account
671,287
596,133
---------
---------
Shareholders funds
671,416
596,262
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Granite House Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 7 July 2025 , and are signed on behalf of the board by:
Mr T Rotherham
Director
Company registration number: 05213040
The Granite House Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Murdock Road, Bicester, Oxon, OX26 4PP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% reducing balance
Commercial Vehicles
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 14 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 November 2023
615,983
87,919
703,902
Disposals
( 2,880)
( 2,880)
---------
--------
---------
At 31 October 2024
613,103
87,919
701,022
---------
--------
---------
Depreciation
At 1 November 2023
388,139
26,821
414,960
Charge for the year
22,684
9,165
31,849
Disposals
( 1,876)
( 1,876)
---------
--------
---------
At 31 October 2024
408,947
35,986
444,933
---------
--------
---------
Carrying amount
At 31 October 2024
204,156
51,933
256,089
---------
--------
---------
At 31 October 2023
227,844
61,098
288,942
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
79,452
95,243
Other debtors
152,951
24,099
---------
---------
232,403
119,342
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
47,603
63,866
Corporation tax
53,174
69,002
Social security and other taxes
31,663
29,991
Other creditors
162,494
178,294
---------
---------
294,934
341,153
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,341
46,650
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr T Rotherham
( 3,691)
69,713
( 95,405)
( 29,383)
-------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr T Rotherham
16,844
265,702
( 286,237)
( 3,691)
--------
---------
---------
-------