G.R.M. Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04809334 (England and Wales)

G.R.M. CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Gambling

SECRETARY:

S L Gambling

REGISTERED OFFICE:

Dunsmore House

2 School Lane

Stretton On Dunsmore

Rugby

Warwickshire

CV23 9NB

REGISTERED NUMBER:

04809334 (England and Wales)

ACCOUNTANTS:

Watts Gregory LLP

Chartered Accountants

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

20,884

37,284

Investments

5

2,406

-

23,290

37,284

CURRENT ASSETS

Debtors

6

592,070

779,802

Cash at bank and in hand

491,695

1,355,629

1,083,765

2,135,431

CREDITORS

Amounts falling due within one year

7

(229,611

)

(288,317

)

NET CURRENT ASSETS

854,154

1,847,114

TOTAL ASSETS LESS CURRENT LIABILITIES

877,444

1,884,398

PROVISIONS FOR LIABILITIES

(3,550

)

(6,338

)

NET ASSETS

873,894

1,878,060

CAPITAL AND RESERVES

Called up share capital

11

10

Share premium

78,286

-

Retained earnings

795,597

1,878,050

873,894

1,878,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved for issue by the director and authorised for issue on 22 December 2020 and were signed by:

M Gambling - Director

1.	STATUTORY INFORMATION

G.R.M. Consulting 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

There have been no material departures from Financial Reporting Standard 102 1A.

Going Concern

The director is satisfied that despite the Coronavirus pandemic, it is appropriate for the company's financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising and the director has taken steps to minimise the effect on the company and will continue to do so. In the circumstances he has concluded that no adjustments are required to the financial statements at this time.

Turnover

Turnover represents amounts billed and billable in respect of engineering consultancy services provided during the year, excluding value added tax.

Tangible fixed assets

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

Fixtures and Fittings

-

33% on cost

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost which includes any costs directly attributable to making the asset operate as intended.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at 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.

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.

Unbilled work

Work undertaken during the year but unbilled at the financial year end, is valued by the director at selling price less an allowance for any work still to be completed and any unrecoverable element.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

Share based payments

Share based payments are recgonised as expenditure in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

57,578

82,300

139,878

Additions

2,469

3,759

6,228

At 31 March 2020

60,047

86,059

146,106

DEPRECIATION

At 1 April 2019

42,409

60,185

102,594

Charge for year

10,458

12,170

22,628

At 31 March 2020

52,867

72,355

125,222

NET BOOK VALUE

At 31 March 2020

7,180

13,704

20,884

At 31 March 2019

15,169

22,115

37,284

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

3,331

Disposals

(925

)

At 31 March 2020

2,406

NET BOOK VALUE

At 31 March 2020

2,406

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

324,071

355,112

GRM Property Limited loan

132,308

176,255

Directors' current accounts

-

99,995

Corporation tax

12,241

-

Prepayments and accrued income

123,450

148,440

592,070

779,802

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

109,304

97,041

Corporation tax

-

44,672

Social security and other taxes

24,766

21,673

VAT

72,274

80,134

Other creditors

2,003

13,576

Directors' current accounts

3,337

-

Accruals and deferred income

17,927

31,221

229,611

288,317