Gracefruit Ltd 31/03/2025 iXBRL

Company registration number: SC374368

Gracefruit Ltd

Unaudited filleted financial statements

31 March 2025

Gracefruit Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Gracefruit Ltd

Directors and other information


	Directors	Elizabeth Carnahan
		Paul Carnahan


	Company number	SC374368


	Registered office	146 Glasgow Road
		Longcroft
		Bonnybridge
		Stirlingshire
		FK4 1QL


	Business address	146 Glasgow Road
		Longcroft
		Bonnybridge
		Stirlingshire
		FK4 1QL


	Accountants	Dickson Middleton
		5/9 Bridge Street
		Bonnybridge
		FK4 1AD




	Bankers	Co-operative Bank

Gracefruit Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Gracefruit Ltd

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gracefruit Ltd for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Gracefruit Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Gracefruit Ltd and state those matters that we have agreed to state to the board of directors of Gracefruit Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gracefruit Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Gracefruit Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gracefruit Ltd. You consider that Gracefruit Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gracefruit Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dickson Middleton

Chartered Accountants

5/9 Bridge Street

Bonnybridge

FK4 1AD

30 November 2025

Gracefruit Ltd

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	11,990		15,982
		_______		_______
			11,990		15,982

Current assets
Stocks		9,355		15,134
Debtors	6	4,954		7,106
Cash at bank and in hand		10,196		16,745
		_______		_______
		24,505		38,985
Creditors: amounts falling due
within one year	7	( 11,348)		( 11,855)
		_______		_______
Net current assets			13,157		27,130
			_______		_______
Total assets less current liabilities			25,147		43,112

Creditors: amounts falling due
after more than one year	8		( 12,604)		( 14,448)

Provisions for liabilities			( 2,279)		( 3,037)

			_______		_______
Net assets			10,264		25,627
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			10,164		25,527
			_______		_______
Shareholders funds			10,264		25,627
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These 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 statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 November 2025 , and are signed on behalf of the board by:

Elizabeth Carnahan

Director

Company registration number: SC374368

Gracefruit Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 146 Glasgow Road, Longcroft, Bonnybridge, Stirlingshire, FK4 1QL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:


Long leasehold property	-	Straight line over the life of the lease
Fittings fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance
-	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 6 ).

5. Tangible assets

	Short leasehold property	Fixtures, fittings and equipment	Motor vehicles	Computers	Total
	£	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	13,570	34,000	25,795	16,285	89,650
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	13,570	32,749	11,286	16,063	73,668
Charge for the year	-	309	3,627	56	3,992
	_______	_______	_______	_______	_______
At 31 March 2025	13,570	33,058	14,913	16,119	77,660
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	-	942	10,882	166	11,990
	_______	_______	_______	_______	_______
At 31 March 2024	-	1,251	14,509	222	15,982
	_______	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	-	2,515
Other debtors	4,954	4,591
	_______	_______
	4,954	7,106
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	360	3,413
Social security and other taxes	1,146	445
Other creditors	9,842	7,997
	_______	_______
	11,348	11,855
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	12,604	14,448
	_______	_______

9. Controlling party

E Carnahan is considered to be the ultimate controlling party.