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REGISTERED NUMBER: 04608508 (England and Wales)















GRIMSTHORPE SHOOT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






GRIMSTHORPE SHOOT LIMITED (REGISTERED NUMBER: 04608508)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


GRIMSTHORPE SHOOT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M A Russell
Mrs E J Russell
Mrs S L Coups





SECRETARY: Mrs E J Russell





REGISTERED OFFICE: Scottlethorpe Grange
Edenham
Bourne
Lincolnshire
PE10 0LN





REGISTERED NUMBER: 04608508 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

GRIMSTHORPE SHOOT LIMITED (REGISTERED NUMBER: 04608508)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 123,092 72,398

CURRENT ASSETS
Inventories 89,756 74,305
Debtors 5 10,416 12,408
Cash at bank and in hand 9,675 52,105
109,847 138,818
CREDITORS
Amounts falling due within one year 6 87,634 71,113
NET CURRENT ASSETS 22,213 67,705
TOTAL ASSETS LESS CURRENT LIABILITIES 145,305 140,103

CREDITORS
Amounts falling due after more than one year 7 (8,769 ) (19,047 )

PROVISIONS FOR LIABILITIES (16,479 ) (16,045 )
NET ASSETS 120,057 105,011

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 119,957 104,911
SHAREHOLDERS' FUNDS 120,057 105,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:




Mrs S L Coups - Director


GRIMSTHORPE SHOOT LIMITED (REGISTERED NUMBER: 04608508)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Grimsthorpe Shoot Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost, 33% on cost & 20% reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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 is recognised in the income statement.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


GRIMSTHORPE SHOOT LIMITED (REGISTERED NUMBER: 04608508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 25,172 132,419 37,556 7,720 202,867
Additions 55,117 16,325 741 - 72,183
At 31 December 2024 80,289 148,744 38,297 7,720 275,050
DEPRECIATION
At 1 January 2024 17,856 81,415 24,764 6,434 130,469
Charge for year 6,850 11,716 2,578 345 21,489
At 31 December 2024 24,706 93,131 27,342 6,779 151,958
NET BOOK VALUE
At 31 December 2024 55,583 55,613 10,955 941 123,092
At 31 December 2023 7,316 51,004 12,792 1,286 72,398

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,690 6,331
Other debtors 52 1,417
Directors' current accounts 291 1,726
Prepayments and accrued income 383 2,934
10,416 12,408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,231 10,036
Trade creditors 31,808 19,660
Corporation tax 4,144 8,081
Other taxes and social security 25,514 23,722
Other creditors 711 558
Accrued expenses 9,226 9,056
87,634 71,113

GRIMSTHORPE SHOOT LIMITED (REGISTERED NUMBER: 04608508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,769 10,290
Bank loans - 2-5 years - 8,757
8,769 19,047

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 5,954 -

National Westminster Bank PLC holds fixed and floating charges over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2024 the company had operating lease commitments over the remaining life of the leases totalling £181,079 (2023: £203,028).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mrs S L Coups
Balance outstanding at start of year 1,726 1,696
Amounts advanced 61 30
Amounts repaid (1,497 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 290 1,726

Loans to directors are interest free and repayable on demand.