REGISTERED NUMBER: 13792379 (England and Wales)

GREASETECH DRAINAGE SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Menzies

R J V Thomas

S Benfield

REGISTERED OFFICE:

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

REGISTERED NUMBER:

13792379 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Intangible assets

4

403,903

455,372

Tangible assets

5

29,543

33,937

433,446

489,309

CURRENT ASSETS

Stocks

9,000

10,652

Debtors

6

1,359,761

1,238,638

Cash at bank and in hand

45,251

45,460

1,414,012

1,294,750

CREDITORS

Amounts falling due within one year

7

1,296,168

1,254,763

NET CURRENT ASSETS

117,844

39,987

TOTAL ASSETS LESS CURRENT LIABILITIES

551,290

529,296

CREDITORS

Amounts falling due after more than one year

8

303,000

380,000

NET ASSETS

248,290

149,296

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

248,190

149,196

248,290

149,296

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 by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

R Menzies - Director

R J V Thomas - Director

1.	STATUTORY INFORMATION

GreaseTech Drainage Solutions 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 company commenced trading on 1 June 2022.

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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 62 (2023 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

514,685

AMORTISATION

At 1 January 2024

59,313

Amortisation for year

51,469

At 31 December 2024

110,782

NET BOOK VALUE

At 31 December 2024

403,903

At 31 December 2023

455,372

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

37,443

4,185

4,772

46,400

Additions

2,864

-

1,528

4,392

At 31 December 2024

40,307

4,185

6,300

50,792

DEPRECIATION

At 1 January 2024

10,132

1,504

827

12,463

Charge for year

7,219

670

897

8,786

At 31 December 2024

17,351

2,174

1,724

21,249

NET BOOK VALUE

At 31 December 2024

22,956

2,011

4,576

29,543

At 31 December 2023

27,311

2,681

3,945

33,937

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

786,830

839,912

Other debtors

572,931

398,726

1,359,761

1,238,638

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Payments on account

560,193

717,295

Trade creditors

190,598

142,977

Taxation and social security

498,589

345,268

Other creditors

46,788

49,223

1,296,168

1,254,763

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

303,000

380,000