Grant Barnett Assets Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Grant Barnett Assets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15857481 . The registered office is Waterfront House, 55-61 South Street, Bishop's Stortford, Hertfordshire, CM23 3AL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Current liabilities exceed current assets, however, after reviewing the entities forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3. Significant judgements and estimations

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. Financial Instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method

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Grant Barnett Assets Ltd

Notes to the Financial Statements (continued)

For the Period 24 July 2024 to 31 July 2025

2.6. Taxation

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

2.7. Investments in subsidiaries

Investments in subsidiaries are disclosed at cost less impairment.

Other Investments

Other investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

2.8. Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Investments

	Associates
	£
Cost or Valuation
As at 24 July 2024	-
Additions	243,424

As at 31 July 2025	243,424

Provision
As at 24 July 2024	-

As at 31 July 2025	-

Net Book Value
As at 31 July 2025	243,424

As at 24 July 2024	-

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Grant Barnett Assets Ltd

Notes to the Financial Statements (continued)

For the Period 24 July 2024 to 31 July 2025

5. Debtors

	31 July 2025
	£
Due within one year
Amounts owed by group undertakings	79,496
Other debtors	350,000

	429,496

Included within Other Debtors, totalling £350,000, is a loan to CWT Enterprise Ltd

6. Creditors: Amounts Falling Due Within One Year

	31 July 2025
	£
Amounts owed to group undertakings	432,145

7. Share Capital

	31 July 2025
	£
Allotted, Called up and fully paid	67,501

8. Related Party Transactions

As at the balance sheet date, £79,496 (2024: £nil) was due from the subsidiary Grant Barnett Holdings Ltd and is included within debtors. The advance is interest‑free and repayable on demand.

As at the balance sheet date, £350,000 (2024: £nil) was payable to Castleway Investment Management LLP and is included within creditors. The loan is interest-free and repayable on demand.

As at the balance sheet date, £76,145 (2024: £nil) was payable to Grant, Barnett & Company Limited and included within creditors. The balance is interest‑free and repayable on demand.

As at the balance sheet date, £6,000 (2024: £nil) was payable to Grant Barnett Endeavours LLP and included within creditors. The balance is interest‑free and repayable on demand.

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		31 July 2025
	Notes	£	£
FIXED ASSETS
Investments	4		243,424

			243,424
CURRENT ASSETS
Debtors	5	429,496

		429,496
Creditors: Amounts Falling Due Within One Year	6	(432,145 )

NET CURRENT ASSETS (LIABILITIES)			(2,649 )

TOTAL ASSETS LESS CURRENT LIABILITIES			240,775

NET ASSETS			240,775

CAPITAL AND RESERVES
Called up share capital	7		67,501
Other reserves			167,053
Profit and Loss Account			6,221

SHAREHOLDERS' FUNDS			240,775