REGISTERED NUMBER: 03149482 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Grandlane Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D A Lestner

REGISTERED OFFICE:

50-52 Station Parade

Harrogate

North Yorkshire

HG1 1TW

REGISTERED NUMBER:

03149482 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Tangible assets

4

2,835,228

3,209,627

Investments

5

3,318,964

3,236,422

6,154,192

6,446,049

CURRENT ASSETS

Debtors

6

4,891,807

4,555,462

Cash at bank

3,042

50,383

4,894,849

4,605,845

CREDITORS

Amounts falling due within one year

7

1,443,643

1,284,054

NET CURRENT ASSETS

3,451,206

3,321,791

TOTAL ASSETS LESS CURRENT LIABILITIES

9,605,398

9,767,840

CREDITORS

Amounts falling due after more than one year

8

321,937

399,557

NET ASSETS

9,283,461

9,368,283

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

9,283,261

9,368,083

9,283,461

9,368,283

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

D A Lestner - Director

1.	STATUTORY INFORMATION

Grandlane 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 comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Wholesale sales and prescriptions are recognised when the goods are dispensed.

Tangible fixed assets

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

Land and buildings

-

5% on cost and not provided

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

3,045,707

635,029

3,680,736

Disposals

(272,026

)

(491,994

)

(764,020

)

At 31 December 2024

2,773,681

143,035

2,916,716

DEPRECIATION

At 1 January 2024

84,513

386,596

471,109

Charge for year

187,513

163,594

351,107

Eliminated on disposal

(272,026

)

(468,702

)

(740,728

)

At 31 December 2024

-

81,488

81,488

NET BOOK VALUE

At 31 December 2024

2,773,681

61,547

2,835,228

At 31 December 2023

2,961,194

248,433

3,209,627

The net book value of assets held under finance leases or HP is £58,998 (2023: £78,664). The depreciation charge for these assets is £19,666 (2023: £47,198).

5.	FIXED ASSET INVESTMENTS

31.12.24

31.12.23

£

£

Loans to undertakings in which the company has a participating interest

2,146,104

2,063,562

Other investments not loans

1,172,860

1,172,860

3,318,964

3,236,422

Additional information is as follows:

Investments (neither listed nor unlisted) were as follows:

31.12.24

31.12.23

£

£

Investments in subsidiaries

1,172,860

6,983,309

Disposals

-

(5,810,449

)

1,172,860

1,172,860

Loans to

other

participating

interests

£

At 1 January 2024

2,063,562

New in year

82,542

At 31 December 2024

2,146,104

Investments in subsidiaries are held at fair value as considered by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

47,587

4,493,176

Other debtors

4,844,220

62,286

4,891,807

4,555,462

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

66,006

71,826

Hire purchase contracts and finance leases (see note 9)

18,853

17,258

Trade creditors

153,758

121,295

Amounts owed to group undertakings

1,034,653

898,593

Taxation and social security

17,973

11,261

Other creditors

152,400

163,821

1,443,643

1,284,054

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

243,772

302,539

Hire purchase contracts and finance leases (see note 9)

78,165

97,018

321,937

399,557

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,789

12,967

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Net obligations repayable:

Within one year

14,269

12,935

4,584

4,323

Between one and five years

75,770

90,039

2,395

6,979

90,039

102,974

6,979

11,302

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

-

47,500

10.	SECURED DEBTS

Charges held by Shawbrook Bank Ltd and Rx Bridge Ltd were satisfied on 10th September 2025.

11.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Grandlane Holdings Limited, which is registered in England and Wales; its registered office is 50-52 Station Parade, Harrogate, England, HG1 1TX. The directors are considered to be the ultimate controlling party.