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Registered number: 02206850
Grant Haze Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Nijjer Accountants Ltd
Chartered Accountants
5-7 Station Road
Longfield
Kent
DA3 7QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02206850
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 814,691 662,017
814,691 662,017
CURRENT ASSETS
Stocks 5 539,934 533,226
Debtors 6 956,250 1,145,234
Cash at bank and in hand 777,555 1,227,664
2,273,739 2,906,124
Creditors: Amounts Falling Due Within One Year 7 (833,536 ) (991,844 )
NET CURRENT ASSETS (LIABILITIES) 1,440,203 1,914,280
TOTAL ASSETS LESS CURRENT LIABILITIES 2,254,894 2,576,297
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,976 ) (7,976 )
NET ASSETS 2,246,918 2,568,321
CAPITAL AND RESERVES
Called up share capital 8 1,100 1,100
Capital redemption reserve 100 100
Profit and Loss Account 2,245,718 2,567,121
SHAREHOLDERS' FUNDS 2,246,918 2,568,321
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Martin Nuttall
Director
David Moore
Director
4 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grant Haze Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02206850 . The registered office is The Old West Barn Highcross Road, Southfleet, Gravesend, Kent, DA13 9PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over 20 Years
Plant & Machinery 25% Straight Line Method
Motor Vehicles 25% Straight Line Method
Computer Equipment 25% Straight Line Method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: 35)
36 35
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 245,719 483,123 786,435 239,396 1,754,673
Additions 230,076 91,773 144,105 26,327 492,281
Disposals - (13,556 ) (88,370 ) - (101,926 )
As at 31 December 2024 475,795 561,340 842,170 265,723 2,145,028
Depreciation
As at 1 January 2024 53,363 290,153 524,605 224,535 1,092,656
Provided during the period 17,337 87,161 195,007 13,184 312,689
Disposals - (6,655 ) (68,353 ) - (75,008 )
As at 31 December 2024 70,700 370,659 651,259 237,719 1,330,337
Net Book Value
As at 31 December 2024 405,095 190,681 190,911 28,004 814,691
As at 1 January 2024 192,356 192,970 261,830 14,861 662,017
5. Stocks
2024 2023
£ £
Stock 539,934 533,226
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 811,027 1,074,158
Other debtors 145,223 71,076
956,250 1,145,234
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 527,193 509,379
Amounts owed to group undertakings 15,050 -
Other creditors 49,081 107,864
Taxation and social security 242,212 374,601
833,536 991,844
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,100 1,100
9. Related Party Transactions
During the year dividends were paid totalling £576,426 (2023: £359,175) to the directors of the company. All other transactions with related parties that arose during the current and prior years, including any directors' remuneration payable, were done so under normal market conditions.
During the year, the company was loaned Nil (2023: Nil) from G.H. Supplies Ltd, a company where the directors are D S Moore and M G Nuttall. The loan is interest free and repayable on demand.
10. Controlling Party
The company's controlling party is M G Nuttall by virtue of his ownership of 96% of the issued share capital in the company.
The company is exempt from preparing group accounts as it is a small group.
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