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COMPANY REGISTRATION NUMBER: 11726901

Granite Financial Group Ltd

Filleted Unaudited Abridged Financial Statements

31 December 2024

Granite Financial Group Ltd

Abridged Financial Statements

Year ended 31 December 2024

Contents | Page

Abridged statement of financial position | 1

Notes to the abridged financial statements | 3

Granite Financial Group Ltd

Abridged Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Tangible assets | 4 | 169 | 1,029

Current assets

Debtors | 102,676 | 89,147
Cash at bank and in hand | 13,586 | 20,108
| --------- | ---------
| 116,262 | 109,255

Creditors: amounts falling due within one year | 9,640 | 10,617
| --------- | ---------
Net current assets | 106,622 | 98,638
| --------- | --------
Total assets less current liabilities | 106,791 | 99,667

Creditors: amounts falling due after more than one year | 2,586 | 7,808
| --------- | --------
Net assets | 104,205 | 91,859
| --------- | --------

Capital and reserves

Called up share capital | 100 | 100
Profit and loss account | 104,105 | 91,759
| --------- | --------
Shareholders funds | 104,205 | 91,859
| --------- | --------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

Granite Financial Group Ltd

Abridged Statement of Financial Position (continued)

31 December 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 5 October 2025 , and are signed on behalf of the board by:

Mr C Blumzon |
Director |

Company registration number: 11726901
16/12/2022

Granite Financial Group Ltd

Notes to the Abridged Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The registered office and trading address is 2/2 Siddeley House, 50 Canbury Park Road, Kingston Upon Thames, KT2 6LX, England.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost convention. The principle accounting policies adopted are set out below. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income from third parties is recognised in the month the payroll service is supplied. Income from management charges to group companies is recognised in the month the charges occur.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Office equipment | - | 20% straight line
| Computer equipment | - | 33% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. The Company only enters into basic financial instrument contracts that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans with related parties. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4. Tangible assets

| £
Cost |
At 1 January 2024 and 31 December 2024 | 11,154
| --------
Depreciation |
At 1 January 2024 | 10,125
Charge for the year | 860
| --------
At 31 December 2024 | 10,985
| --------
Carrying amount |
At 31 December 2024 | 169
| --------
At 31 December 2023 | 1,029
| --------

5. Related party transactions
Mr C Blumzon was a director and the sole shareholder of Granite Financial Group Ltd throughout the current year. Included in debtors at 31 December 2024 is a balance owing from Granite BPO Ltd of £63,023 (2023: £63,023). Mr C Blumzon has a controlling interest in Granite BPO Ltd.