GRADCONSULT LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

GRADCONSULT LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08653774 . The registered office is The Workstation, Paternoster Row, Sheffield, S1 2BX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software 20% Reducing balance

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GRADCONSULT LTD

Notes to the Financial Statements (continued)

For The Year Ended 29 August 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures & Fittings	25% Straight line
Computer Equipment	50% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss

2.6. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.7. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.8. Pensions

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 12)

4. Intangible Assets

	Other
	£
Cost
As at 30 August 2024	3,728

As at 29 August 2025	3,728

Amortisation
As at 30 August 2024	1,541
Provided during the period	437

As at 29 August 2025	1,978

...CONTINUED

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GRADCONSULT LTD

Notes to the Financial Statements (continued)

For The Year Ended 29 August 2025

Net Book Value
As at 29 August 2025	1,750

As at 30 August 2024	2,187

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 30 August 2024	3,892	18,304	22,196
Additions	-	1,283	1,283

As at 29 August 2025	3,892	19,587	23,479

Depreciation
As at 30 August 2024	3,764	17,929	21,693
Provided during the period	85	749	834

As at 29 August 2025	3,849	18,678	22,527

Net Book Value
As at 29 August 2025	43	909	952

As at 30 August 2024	128	375	503

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	127,039	45,999
Prepayments and accrued income	13,755	15,905
Other debtors	685	1,082
Corporation tax recoverable assets	33,102	33,102
Net wages	1,135	-
Directors' loan accounts	119,352	97,998

	295,068	194,086

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	119	5,144
Bank loans and overdrafts	105,987	67,426
Corporation tax	7,496	17,126
Other taxes and social security	22,624	-
VAT	58,847	28,973
Other creditors	23,401	3,531
Accruals and deferred income	-	2,500

	218,474	124,700

£105,987 (2024:£67,426) of 'Bank loans and overdrafts' is secured by the way of personal guarantee.

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GRADCONSULT LTD

Notes to the Financial Statements (continued)

For The Year Ended 29 August 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	19,886	93,330

£19,886 (2024:£93,330) of 'Bank loans and overdrafts' is secured by the way of personal guarantee.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 30 August 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 29 August 2025
	£	£	£	£	£
Mrs Rebecca Fielding	91,004	20,979	-	-	111,983
Mr Michael Grey	6,993	376	-	-	7,369

The above loan is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,750		2,187
Tangible Assets	5		952		503

			2,702		2,690
CURRENT ASSETS
Debtors	6	295,068		194,086
Cash at bank and in hand		5,859		28,185

		300,927		222,271
Creditors: Amounts Falling Due Within One Year	7	(218,474 )		(124,700 )

NET CURRENT ASSETS (LIABILITIES)			82,453		97,571

TOTAL ASSETS LESS CURRENT LIABILITIES			85,155		100,261

Creditors: Amounts Falling Due After More Than One Year	8		(19,886 )		(93,330 )

NET ASSETS			65,269		6,931

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			65,268		6,930

SHAREHOLDERS' FUNDS			65,269		6,931