ACCOUNTS - Final Accounts preparation

Company registration number: 03446260

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	GRIPPING STUFF INTERNATIONAL LIMITED


GRIPPING STUFF INTERNATIONAL LIMITED

COMPANY INFORMATION

Directors	R C Banks
	S M McAleese-Banks


Company secretary	R C Banks


Registered number	03446260


Registered office	HB42 House
	Unit 9, Maple Grove Business Centre
	Lawrence Road
	Hounslow
	Middlesex
	TW4 6DR


Accountants	Menzies LLP
	Chartered Accountants
	Midas House
	62 Goldsworth Road
	2nd Floor
	Woking
	Surrey
	GU21 6LQ


Bankers	Barclays Bank plc
	Ranger House
	Walnut Tree Close
	Guildford
	Surrey
	GU1 4UL


GRIPPING STUFF INTERNATIONAL LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


GRIPPING STUFF INTERNATIONAL LIMITED REGISTERED NUMBER:03446260

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		2,296		3,083
			2,296		3,083
Current assets
Stocks		51,429		68,964
Debtors: amounts falling due within one year	5	3,552		7,796
Bank and cash balances		2,952		5,227
		57,933		81,987
Creditors: amounts falling due within one year	6	(14,441)		(15,987)
Net current assets			43,492		66,000
Total assets less current liabilities			45,788		69,083

Net assets			45,788		69,083

Capital and reserves
Called up share capital	8	1,000	1,000
Profit and loss account		44,788	68,083
		45,788	69,083

Page 1


GRIPPING STUFF INTERNATIONAL LIMITED REGISTERED NUMBER:03446260

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

R C Banks

Director

Date: 17 September 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


GRIPPING STUFF INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Gripping Stuff International Limited is a private company, limited by shares, incorporated in the United Kingdom under Companies Act 2006 and is registered in England and Wales. The registered address and principal place of business is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover, which is stated net of Value Added Tax, represents the sale of products through wholesaling activity. Sales are recognised when the risks and rewards of goods have been passed over to the customer.

2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Website

20%

straight line

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3


GRIPPING STUFF INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Intangible assets

		Website
		£
	Cost
	At 1 January 2024	3,935
	At 31 December 2024	3,935
	Amortisation
	At 1 January 2024	852
	Charge for the year on owned assets	787
	At 31 December 2024	1,639
	Net book value
	At 31 December 2024	2,296
	At 31 December 2023	3,083

Debtors

					2024	2023
					£	£


Trade debtors	2,552	6,796
Other debtors	1,000	1,000
	3,552	7,796

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	3,300	316
Other taxation and social security	741	2,286
Other creditors	5,000	8,000
Accruals and deferred income	5,400	5,385
	14,441	15,987

Page 4


GRIPPING STUFF INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Related party transactions
	The Company has given a cross guarantee and debenture in respect of bank facilities with Hilton Banks Limited. These bank facilities are also secured by a personal guarantee from the director R C Banks. Hilton Banks Limited is related due to common ultimate shareholders. At the year end the company owed £5,000 (2023 - £8,000) to a related company.

8.	Share capital
		2024	2023
		£	£

Allotted and called up

1,000 (2023 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

The company has share capital unpaid of £1,000 (2022: £1,000).

Page 5