GRIDSOURCE LIMITED


Directors	CLARK, Lisa Clare
	GAY, Gary Alvin
	GAY, Steven Phillip


Company Secretary	MILLER, Jacqueline


Registered Address	Haywards Room Henlow Bridge Lakes
	Bridge End Road
	Henlow
	SG16 6DD


Registered Number	09633536 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		19,064		18,998
			19,064		18,998
Current assets
Stocks	4	87,843		199,826
Debtors	5	23,329		79,683
Cash at bank and on hand		72,147		199,322
		183,319		478,831
Creditors amounts falling due within one year	6	(569,976)		(360,692)
Net current assets (liabilities)			(386,657)		118,139
Total assets less current liabilities			(367,593)		137,137
Net assets			(367,593)		137,137
Capital and reserves
Called up share capital			79		79
Other reserves			21		21
Profit and loss account			(367,693)		137,037
Shareholders' funds			(367,593)		137,137

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 20 August 2025, and are signed on its behalf by:

GAY, Steven Phillip
Director
Registered Company No. 09633536

GRIDSOURCE LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number is 09633536. The registered office address is Haywards Room, Henlow Bridge Lakes, Bridge End Road, Henlow, SG16 6DD.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Employee benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	-	10
Office Equipment	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees
	The average monthly number of employees, including directors, during the year was 10 (2023 - 10)


		2024		2023
	Average number of employees during the year	10		10

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	6,884	14,775	21,659
Additions	1,186	3,029	4,215
At 31 December 24	8,070	17,804	25,874
Depreciation and impairment
At 01 January 24	330	2,331	2,661
Charge for year	-	4,149	4,149
At 31 December 24	330	6,480	6,810
Net book value
At 31 December 24	7,740	11,324	19,064
At 31 December 23	6,554	12,444	18,998

4.	Stocks

	2024	2023
	£	£
Work in progress	87,843	199,826
Total	87,843	199,826

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	6,921	32,384
Prepayments and accrued income	16,408	47,299
Total	23,329	79,683

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	19,549	6,600
Bank borrowings and overdrafts	2,318	33,653
Taxation and social security	32,911	77,206
Other creditors	475,896	203,919
Accrued liabilities and deferred income	39,302	39,314
Total	569,976	360,692


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.