Grandslam Holdings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10645493

GRANDSLAM HOLDINGS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

GRANDSLAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	4	683,146	578,311

Current assets

Debtors	5	95,331	194,152
Cash at bank and in hand		42,580	43,137
		----------	----------
		137,911	237,289

Creditors: amounts falling due within one year	6	( 84,260)	( 67,436)
		----------	----------
Net current assets		53,651	169,853
		----------	----------
Total assets less current liabilities		736,797	748,164

Creditors: amounts falling due after more than one year	7	( 511,776)	( 513,711)

Provisions	( 50,588)	( 52,946)
	----------	----------
Net assets	174,433	181,507
	----------	----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	174,431	181,505
	----------	----------
Shareholder funds	174,433	181,507
	----------	----------

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 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GRANDSLAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mrs E L Doogan-Hobbs
Director

Company registration number: 10645493

GRANDSLAM HOLDINGS LIMITED

NOTES TO THE 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 address of the registered office is Music Factory, Jessop Way, Newark, NG24 2ER.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The only item of note is the depreciation policy. The Board review the market values and residual values of the assets against current net book values and decide whether it is appropriate to charge depreciation. They consider the carried forward values to approximate to their market value.

Revenue recognition

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.

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. 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:

Plant and machinery	-	10-25% reducing balance
Fixtures and fittings	-	12% straight line
Motor vehicles	-	12% straight line
Equipment	-	25% reducing balance

Refer to the judgements accounting policy for further details on the depreciation charge for the year.

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.

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

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	740,122	10,000	10,000	19,596	779,718
Additions	228,348	–	–	–	228,348
Disposals	( 69,043)	–	( 2,000)	–	( 71,043)
	----------	---------	---------	---------	----------
At 31 December 2024	899,427	10,000	8,000	19,596	937,023
	----------	---------	---------	---------	----------
Depreciation
At 1 January 2024	188,300	3,750	3,750	5,607	201,407
Charge for the year	73,496	2,500	2,000	4,899	82,895
Disposals	( 29,675)	–	( 750)	–	( 30,425)
	----------	---------	---------	---------	----------
At 31 December 2024	232,121	6,250	5,000	10,506	253,877
	----------	---------	---------	---------	----------
Carrying amount
At 31 December 2024	667,306	3,750	3,000	9,090	683,146
	----------	---------	---------	---------	----------
At 31 December 2023	551,822	6,250	6,250	13,989	578,311
	----------	---------	---------	---------	----------

5. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	62,280	80,000
Other debtors	33,051	114,152
	---------	----------
	95,331	194,152
	---------	----------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,768	5,616
Social security and other taxes	–	23,838
Other creditors	78,492	37,982
	---------	---------
	84,260	67,436
	---------	---------

The Director loaned the company £375,000 several years ago with the remaining balance at year end being £334,032 (2023 - £330,193). The loan is unsecured and interest is charged at 4% over the Bank of England base rate.

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

	2024	2023
	£	£
Bank loans and overdrafts	27,744	33,518
Other creditors	484,032	480,193
	----------	----------
	511,776	513,711
	----------	----------

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £9,623) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan which is due for repayment after more than 5 years is subject to a market rate of interest and is repayable in monthly installments.

8. Controlling party

The ultimate controlling party is E L Doogan-Hobbs .