GRICE ELECTRICAL LTD


Directors	Samuel Grice
	Eleanor Oxberry-Breakwell


Registered Address	Briar Dene Sandy Lane
	Stockton On The Forest
	York
	YO32 9US


Registered Number	14039093 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		23,177		20,146
			23,177		20,146
Current assets
Stocks	4	5,500		3,000
Debtors		23,107		9,572
Cash at bank and on hand		13,217		6,714
		41,824		19,286
Creditors amounts falling due within one year	5	(59,811)		(27,500)
Net current assets (liabilities)			(17,987)		(8,214)
Total assets less current liabilities			5,190		11,932
Creditors amounts falling due after one year	6		(1,921)		(5,026)
Net assets			3,269		6,906
Capital and reserves
Called up share capital			100		100
Profit and loss account			3,169		6,806
Shareholders' funds			3,269		6,906

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 29 December 2025, and are signed on its behalf by:

Samuel Grice
Director
Registered Company No. 14039093

GRICE ELECTRICAL LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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

	Functional and presentation currency
	The financial statements are presented in sterling, which is the functional currency of the entity.

	Going concern
	The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine.  All these matters have impacted the company's trading results to a greater or lesser extent.  At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

	Current taxation
	The taxation expense represents the aggregate amount of current 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.

Current taxation

The taxation expense represents the aggregate amount of current 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.

	Tangible fixed assets and depreciation
	Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated 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:


		Reducing balance (%)
	Plant and machinery	20
	Vehicles	25
	Office Equipment	20

	Finance leases and hire purchase contracts
	Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

	Stocks and work in progress
	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 stock to its present location and condition.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Financial instruments
	Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	4,407	24,510	5,361	34,278
Additions	275	4,613	5,085	9,973
At 31 March 25	4,682	29,123	10,446	44,251
Depreciation and impairment
At 01 April 24	1,530	10,724	1,878	14,132
Charge for year	629	4,599	1,714	6,942
At 31 March 25	2,159	15,323	3,592	21,074
Net book value
At 31 March 25	2,523	13,800	6,854	23,177
At 31 March 24	2,877	13,786	3,483	20,146

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	5,500	3,000
Total	5,500	3,000

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	39,877	7,679
Bank borrowings and overdrafts	3,031	2,957
Taxation and social security	13,695	5,874
Other creditors	2,174	9,989
Accrued liabilities and deferred income	1,034	1,001
Total	59,811	27,500

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,921	5,026
Total	1,921	5,026

7.	Related party transactions
	The directors made available loans to the company throughout the period. These loans are repayable on demand. At the period end the balance of the loan account was £611 (2024 £10,356).