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GRISDALES LIMITED

Registered Number
06167757
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

GRISDALES LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

RITSON, Rachel

Company Secretary

RITSON, Rachel

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

06167757 (England and Wales)
GRISDALES LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets411,82916,936
11,82916,936
Current assets
Debtors5231,05896,791
Cash at bank and on hand519,390488,595
750,448585,386
Creditors amounts falling due within one year6(385,969)(329,082)
Net current assets (liabilities)364,479256,304
Total assets less current liabilities376,308273,240
Provisions for liabilities7(1,590)(1,011)
Net assets374,718272,229
Capital and reserves
Called up share capital7070
Other reserves3030
Profit and loss account374,618272,129
Shareholders' funds374,718272,229
The financial statements were approved and authorised for issue by the Director on 2 July 2025, and are signed on its behalf by:
RITSON, Rachel
Director
Registered Company No. 06167757
GRISDALES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
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 obligation. [New Paragraph] Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-5
Fixtures and fittings-6.66
Vehicles25-
Office Equipment-4
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
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 Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year2628
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2435,00035,000
At 31 December 2435,00035,000
Amortisation and impairment
At 01 January 2435,00035,000
At 31 December 2435,00035,000
Net book value
At 31 December 24--
At 31 December 23--
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2432,41842,25512,2368,74195,650
Disposals-(5,188)--(5,188)
At 31 December 2432,41837,06712,2368,74190,462
Depreciation and impairment
At 01 January 2432,41825,31912,2368,74178,714
Charge for year-3,876--3,876
On disposals-(3,957)--(3,957)
At 31 December 2432,41825,23812,2368,74178,633
Net book value
At 31 December 24-11,829--11,829
At 31 December 23-16,936--16,936
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables41,04058,841
Other debtors165,93125,049
Prepayments and accrued income24,08712,901
Total231,05896,791
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables55,35956,102
Bank borrowings and overdrafts8,59539,249
Taxation and social security256,28981,978
Other creditors60,976132,223
Accrued liabilities and deferred income4,75019,530
Total385,969329,082
"Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,5901,011
Total1,5901,011