Registration number: 04734590

Grand Design Services Lincolnshire Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Grand Design Services Lincolnshire Ltd

Company Information

Director

Mr D.J. Smith

Company secretary

Mrs T A Harrison

Registered office

26 South St. Mary's Gate Grimsby North East Lincolnshire DN31 1LW

Grand Design Services Lincolnshire Ltd

(Registration number: 04734590)
Balance Sheet as at 31 March 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	94,073	117,230
Investment property	5	-	196,880
		94,073	314,110
Current assets
Stocks	6	44,000	56,000
Debtors	7	316,482	261,540
Cash at bank and in hand		215,324	77,059
		575,806	394,599
Creditors: Amounts falling due within one year	8	(663,165)	(597,927)
Net current liabilities		(87,359)	(203,328)
Total assets less current liabilities		6,714	110,782
Creditors: Amounts falling due after more than one year	8	(365,890)	(397,925)
Net liabilities		(359,176)	(287,143)
Capital and reserves
Called up share capital		100	100
Retained earnings		(359,276)	(287,243)
Shareholders' deficit		(359,176)	(287,143)

For the financial 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.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 December 2025
 

......................................... Mr D.J. Smith Director

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
Unit 2
Adam Smith Street
Grimsby
North East Lincs
DN31 1SJ

These financial statements were authorised for issue by the director on 18 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

The company will continue to be supported by the loans from the investors. The investors will not be demanding repaying of these loans until the company's financial position allows for the repayments. The loans will assist with the company's working capital.

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Prior period errors

An additional £175,779 of Deferred Income has been identified that was not originally included in the accounts for the year ended 31 March 2024. The accounts have been adjusted accordingly.

The profit before tax has been changed as a result of the above. Corporation and deferred tax liabilities have been adjusted accordingly for the year ended 31 March 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Motor vehicles	20% reducing balance
Leasehold improvements	15 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 4

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 12 (2024 - 12).

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	94,645	125,138	40,321	260,104
Additions	-	1,649	-	1,649
Disposals	-	-	(11,316)	(11,316)
At 31 March 2025	94,645	126,787	29,005	250,437
Depreciation
At 1 April 2024	37,859	81,992	23,023	142,874
Charge for the year	6,313	8,848	2,646	17,807
Eliminated on disposal	-	-	(4,317)	(4,317)
At 31 March 2025	44,172	90,840	21,352	156,364
Carrying amount
At 31 March 2025	50,473	35,947	7,653	94,073
At 31 March 2024	56,786	43,146	17,298	117,230

Included within the net book value of land and buildings above is £50,473 (2024 - £56,786) in respect of long leasehold land and buildings.
 

5	Investment properties

	2025 £
At 1 April	196,880
Disposals	(196,880)
At 31 March	-

There has been no valuation of investment property by an independent valuer.

6

Stocks

	2025 £	2024 £
Raw materials and consumables	44,000	56,000

Grand Design Services Lincolnshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	255,466	203,124
Prepayments	5,600	3,000
Other debtors	55,416	55,416
	316,482	261,540

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	(As restated) 2024 £
Due within one year
Loans and borrowings		102,916	148,878
Trade creditors		95,555	74,234
Taxation and social security		62,254	53,791
Accruals and deferred income		366,636	292,438
Other creditors		35,804	28,586
		663,165	597,927

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £17,360 (2024 - £23,544).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		361,404	392,319
Deferred income		4,486	5,606
		365,890	397,925

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £3,000 (2024 - £20,360).

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £135,000 (2024 - £150,000).