Registration number: 15476718

Ask The Grips Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Ask The Grips Ltd

Company Information

Director

Mr Aaron Mitchell Taylor

Registered office

1 Vaindre Drive St Mellons Cardiff CF3 0LL

Accountants

Wynne & Co Chartered Accountants Forestry House Brewery Road Carmarthen Carmarthenshire SA31 1TF

Ask The Grips Ltd

(Registration number: 15476718)
Balance Sheet as at 28 February 2025

	Note	28 February 2025 £
Fixed assets
Tangible assets	4	25,549
Current assets
Stocks	5	127
Debtors	6	193
Cash at bank and in hand		7
		327
Creditors: Amounts falling due within one year	7	(29,791)
Net current liabilities		(29,464)
Net liabilities		(3,915)
Capital and reserves
Called up share capital	8	100
Retained earnings		(4,015)
Shareholders' deficit		(3,915)

For the financial period ending 28 February 2025 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 April 2025
 

Ask The Grips Ltd

(Registration number: 15476718)
Balance Sheet as at 28 February 2025

......................................... Mr Aaron Mitchell Taylor Director

Ask The Grips Ltd

Notes to the Unaudited Financial Statements
for the Period from 9 February 2024 to 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
1 Vaindre Drive
St Mellons
Cardiff
CF3 0LL

These financial statements were authorised for issue by the director on 11 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Ask The Grips Ltd

Notes to the Unaudited Financial Statements
for the Period from 9 February 2024 to 28 February 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Office Equipment	25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Ask The Grips Ltd

Notes to the Unaudited Financial Statements
for the Period from 9 February 2024 to 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

Ask The Grips Ltd

Notes to the Unaudited Financial Statements
for the Period from 9 February 2024 to 28 February 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
Additions	1,400	4,524	27,289	33,213
At 28 February 2025	1,400	4,524	27,289	33,213
Depreciation
Charge for the period	350	1,056	6,258	7,664
At 28 February 2025	350	1,056	6,258	7,664
Carrying amount
At 28 February 2025	1,050	3,468	21,031	25,549

5

Stocks

	28 February 2025 £
Work in progress	127

6

Debtors

Current	28 February 2025 £
Other debtors	193
	193

Ask The Grips Ltd

Notes to the Unaudited Financial Statements
for the Period from 9 February 2024 to 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

	28 February 2025 £
Due within one year
Trade creditors	(366)
Accruals and deferred income	1,725
Other creditors	28,432
	29,791

8	Share capital

Allotted, called up and fully paid shares

	28 February 2025
	No.	£
Ordinary of £1 each	100	100

9	Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

	2025 £
Remuneration	8,342