REGISTERED NUMBER: 00438842 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2024

for

Grimshaw Kinnear Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P N Grimshaw

R J Grimshaw

Mrs D Grimshaw

Mrs K L Grimshaw

SECRETARY:

Mrs K L Grimshaw

REGISTERED OFFICE:

St Peters Works

Tewkesbury Road

Cheltenham

Gloucestershire

GL51 9AL

REGISTERED NUMBER:

00438842 (England and Wales)

BANKERS:

National Westminster bank PLC

31 The Promenade

Cheltenham

Gloucestershire

GL50 1LH

FIXED ASSETS

Intangible assets

4

1,118

1,118

Tangible assets

5

299,382

295,893

Investments

6

2

2

300,502

297,013

CURRENT ASSETS

Stocks

62,500

63,641

Debtors

7

74,042

46,236

Cash at bank

62

3

136,604

109,880

CREDITORS

Amounts falling due within one year

8

192,887

163,923

NET CURRENT LIABILITIES

(56,283

)

(54,043

)

TOTAL ASSETS LESS CURRENT LIABILITIES

244,219

242,970

CREDITORS

Amounts falling due after more than one year

9

24,538

32,773

NET ASSETS

219,681

210,197

CAPITAL AND RESERVES

Called up share capital

6,577

6,577

Retained earnings

213,104

203,620

SHAREHOLDERS' FUNDS

219,681

210,197

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 30 September 2025 and were signed on its behalf by:

R J Grimshaw - Director

1.	STATUTORY INFORMATION

Grimshaw Kinnear 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.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to ate bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Development costs

During the year ended 31 December 2019, the company updated and enhanced its online shop. The Company has capitalised costs of £11,175 in recognition of this. These costs are being amortised over its estimated useful economic life of 5 years.

Tangible fixed assets

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

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

No depreciation has been provided in respect of the freehold property as in the opinion of the directors the current inflation adjusted market value is in excess of the carrying value in these financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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 items.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

12,000

11,175

23,175

AMORTISATION

At 1 January 2024

and 31 December 2024

12,000

10,057

22,057

NET BOOK VALUE

At 31 December 2024

-

1,118

1,118

At 31 December 2023

-

1,118

1,118

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

242,431

231,290

70,044

43,744

587,509

Additions

-

15,355

-

-

15,355

At 31 December 2024

242,431

246,645

70,044

43,744

602,864

DEPRECIATION

At 1 January 2024

-

179,692

68,180

43,744

291,616

Charge for year

-

11,598

268

-

11,866

At 31 December 2024

-

191,290

68,448

43,744

303,482

NET BOOK VALUE

At 31 December 2024

242,431

55,355

1,596

-

299,382

At 31 December 2023

242,431

51,598

1,864

-

295,893

At 31 December, assets with a written down value of £9,329 (2023: £20,238) were subject to hire purchase agreements.

6.	FIXED ASSET INVESTMENTS

The investment relates to a 100% investment in Paceway Limited, a company registered in England and Wales.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

18,972

10,794

Other debtors

55,070

35,442

74,042

46,236

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

43,428

40,691

Hire purchase contracts

2,680

8,019

Trade creditors

57,750

55,276

Taxation and social security

32,748

27,144

Other creditors

56,281

32,793

192,887

163,923

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

24,538

30,093

Hire purchase contracts

-

2,680

24,538

32,773

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

2,680

10,699