GRD PRECISION LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04770503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2018

FOR

GRD PRECISION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R DAWRANT

MRS J DAWRANT

SECRETARY:

R DAWRANT

REGISTERED OFFICE:

JUBILEE HOUSE

CLIFFE ROAD

BRIGHOUSE

WEST YORKSHIRE

HD6 1HE

REGISTERED NUMBER:

04770503 (England and Wales)

ACCOUNTANTS:

BD SMITH AND CO LIMITED

25 BONEGATE ROAD

BRIGHOUSE

West Yorkshire

HD6 1TQ

FIXED ASSETS

Tangible assets

4

81,981

100,877

CURRENT ASSETS

Stocks

142,350

147,000

Debtors

5

282,024

254,624

Cash at bank

889,631

821,543

1,314,005

1,223,167

CREDITORS

Amounts falling due within one year

6

237,501

251,594

NET CURRENT ASSETS

1,076,504

971,573

TOTAL ASSETS LESS CURRENT LIABILITIES

1,158,485

1,072,450

PROVISIONS FOR LIABILITIES

15,000

19,000

NET ASSETS

1,143,485

1,053,450

CAPITAL AND RESERVES

Called up share capital

500

500

Capital redemption reserve

500

500

Retained earnings

1,142,485

1,052,450

SHAREHOLDERS' FUNDS

1,143,485

1,053,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9th April 2019 and were signed on its behalf by:

R DAWRANT - Director

MRS J DAWRANT - Director

1.	STATUTORY INFORMATION

GRD PRECISION LIMITED is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2017 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st October 2017

406,688

15,972

49,676

16,251

488,587

Additions

1,392

-

-

1,831

3,223

At 30th September 2018

408,080

15,972

49,676

18,082

491,810

DEPRECIATION

At 1st October 2017

323,187

13,551

36,543

14,429

387,710

Charge for year

16,979

484

3,283

1,373

22,119

At 30th September 2018

340,166

14,035

39,826

15,802

409,829

NET BOOK VALUE

At 30th September 2018

67,914

1,937

9,850

2,280

81,981

At 30th September 2017

83,501

2,421

13,133

1,822

100,877

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

270,515

252,151

Directors' current accounts

7,715

-

Prepayments and accrued income

3,794

2,473

282,024

254,624

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade creditors

45,807

114,875

Tax

53,500

18,000

Social security and other taxes

116,074

79,994

Pension contributions

3,910

3,849

Directors' current accounts

-

16,176

Accruals and deferred income

18,210

18,700

237,501

251,594

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2018 and

30th September 2017:

30.9.18

30.9.17

£

£

R DAWRANT and MRS J DAWRANT

Balance outstanding at start of year

-

-

Amounts advanced

131,715

-

Amounts repaid

(124,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,715

-

During the year, rent of £32700 (2017-£32700) was paid to the directors.