REGISTERED NUMBER: 07532054 (England and Wales)

Unaudited Financial Statements for the Year Ended 26 February 2025

for

James Grace Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D Gledhill

Mrs A L Gledhill

REGISTERED OFFICE:

70 Market Street

Tottington

Bury

Greater Manchester

BL8 3LJ

REGISTERED NUMBER:

07532054 (England and Wales)

ACCOUNTANTS:

Anthony Marshall Ltd

Chartered Accountants

70 Market Street

Tottington

Bury

Greater Manchester

BL8 3LJ

FIXED ASSETS

Tangible assets

4

33,643

43,784

CURRENT ASSETS

Stocks

500

500

Debtors

5

545,661

297,902

Cash at bank

3,056

129,384

549,217

427,786

CREDITORS

Amounts falling due within one year

6

270,236

212,127

NET CURRENT ASSETS

278,981

215,659

TOTAL ASSETS LESS CURRENT LIABILITIES

312,624

259,443

CREDITORS

Amounts falling due after more than one year

7

(3,595

)

(12,998

)

PROVISIONS FOR LIABILITIES

(1,569

)

-

NET ASSETS

307,460

246,445

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

307,458

246,443

307,460

246,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 February 2025 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:

D Gledhill - Director

1.	STATUTORY INFORMATION

James Grace 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

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

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 27 February 2024

14,736

49,588

64,324

Additions

936

-

936

At 26 February 2025

15,672

49,588

65,260

DEPRECIATION

At 27 February 2024

8,143

12,397

20,540

Charge for year

1,779

9,298

11,077

At 26 February 2025

9,922

21,695

31,617

NET BOOK VALUE

At 26 February 2025

5,750

27,893

33,643

At 26 February 2024

6,593

37,191

43,784

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

26.2.25

26.2.24

£

£

Trade debtors

27,520

51,124

Amounts owed by associates

504,600

214,500

Other debtors

13,541

32,278

545,661

297,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

26.2.25

26.2.24

£

£

Bank loans and overdrafts

9,600

9,600

Hire purchase contracts

-

7,344

Trade creditors

75,130

65,000

Amounts owed to group undertakings

28,140

-

Taxation and social security

119,499

126,100

Other creditors

37,867

4,083

270,236

212,127

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

26.2.25

26.2.24

£

£

Bank loans

3,595

12,998