Registered number
03902319
GRANGEWOOD AUTOS LTD
Filleted Accounts
31 March 2025
GRANGEWOOD AUTOS LTD
Registered number: 03902319
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 177,682 167,187
Current assets
Stocks 301 1,266
Debtors 4 - -
Cash at bank and in hand 140,953 80,494
141,254 81,760
Creditors: amounts falling due within one year 5 (89,462) (66,740)
Net current assets 51,792 15,020
Total assets less current liabilities 229,474 182,207
Creditors: amounts falling due after more than one year 6 (2,432) (12,616)
Net assets 227,042 169,591
Capital and reserves
Called up share capital 500 500
Profit and loss account 226,542 169,091
Shareholder's funds 227,042 169,591
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Elias Ismail AHMED
Director
Approved by the board on 1 August 2025
GRANGEWOOD AUTOS LTD
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% RBM
Office Equipment 20% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 160,244 45,454 - 205,698
Additions - - 11,885 11,885
At 31 March 2025 160,244 45,454 11,885 217,583
Depreciation
At 1 April 2024 - 38,511 - 38,511
Charge for the year - 1,390 - 1,390
At 31 March 2025 - 39,901 - 39,901
Net book value
At 31 March 2025 160,244 5,553 11,885 177,682
At 31 March 2024 160,244 6,943 - 167,187
4 Debtors 2025 2024
£ £
Trade debtors - -
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 11,478 11,622
Directors' Loan Account 2,613 5,453
Trade creditors 32,933 18,416
Taxation and social security costs 37,363 25,369
Other creditors 5,075 5,880
89,462 66,740
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 2,432 12,616
7 Other information
GRANGEWOOD AUTOS LTD is a private company limited by shares and incorporated in England. Its registered office is:
4 Wangey Road, Romford,
England
RM6 4DD
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