The Daily Grind Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04988128

The Daily Grind Limited

Filleted Unaudited Financial Statements

31 December 2024

The Daily Grind Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

The Daily Grind Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		98,881		115,725

Current assets

Stocks		260,528	238,275
Debtors	6	70,294	111,141
Cash at bank and in hand		92,126	88,595
		---------	---------
		422,948	438,011

Creditors: amounts falling due within one year	7	187,320		197,705
		---------		---------
Net current assets			235,628		240,306
			---------		---------
Total assets less current liabilities			334,509		356,031

Creditors: amounts falling due after more than one year	8		49,615		72,994

Provisions

Taxation including deferred tax	10,372	13,607
	---------	---------
Net assets	274,522	269,430
	---------	---------

Capital and reserves

Called up share capital	9	225	225
Profit and loss account		274,297	269,205
		---------	---------
Shareholders funds		274,522	269,430
		---------	---------

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Daily Grind Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 27 November 2025 , and are signed on behalf of the board by:

A K G Pirret

Director

Company registration number: 04988128

The Daily Grind 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 Bradwell Hall, Bradwell on Sea, Essex, CM0 7HX.

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.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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	-	25% straight line
Motor vehicles	-	25% straight line

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.

Stocks

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts 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. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2023: 8 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	208,483	58,500	266,983
Additions	27,039	–	27,039
	---------	--------	---------
At 31 December 2024	235,522	58,500	294,022
	---------	--------	---------
Depreciation
At 1 January 2024	145,164	6,094	151,258
Charge for the year	29,258	14,625	43,883
	---------	--------	---------
At 31 December 2024	174,422	20,719	195,141
	---------	--------	---------
Carrying amount
At 31 December 2024	61,100	37,781	98,881
	---------	--------	---------
At 31 December 2023	63,319	52,406	115,725
	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	62,889	96,607
Prepayments and accrued income	1,740	1,428
Corporation tax repayable	–	2,907
Other debtors	5,665	10,199
	--------	---------
	70,294	111,141
	--------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	17,700	17,536
Trade creditors	31,396	38,926
Accruals and deferred income	1,995	1,900
Corporation tax	3,471	–
Social security and other taxes	1,135	5,621
Obligations under finance leases and hire purchase contracts	5,679	5,679
Director loan accounts	125,944	127,944
Other creditors	–	99
	---------	---------
	187,320	197,705
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	10,365	28,065
Obligations under finance leases and hire purchase contracts	39,250	44,929
	--------	--------
	49,615	72,994
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	225	225	225	225
	----	----	----	----

10. Related party transactions

At the year end the company owed its directors £125,944 (2023: £127,944) by way of a directors loan account which is shown amongst creditors.