Grandslam Holdings Limited Filleted accounts for Companies House (small and micro)

GRANDSLAM HOLDINGS LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2020-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 331,783 331,783 331,783 xbrli:pure xbrli:shares iso4217:GBP 10645493 2020-04-01 2020-12-31 10645493 2020-12-31 10645493 2020-03-31 10645493 bus:Director1 2020-04-01 2020-12-31 10645493 core:PlantMachinery 2020-04-01 2020-12-31 10645493 core:AfterOneYear 2020-12-31 10645493 core:WithinOneYear 2020-12-31 10645493 core:ShareCapital 2020-12-31 10645493 core:ShareCapital 2020-03-31 10645493 core:PlantMachinery 2020-12-31 10645493 bus:SmallEntities 2020-04-01 2020-12-31 10645493 bus:AuditExemptWithAccountantsReport 2020-04-01 2020-12-31 10645493 bus:FullAccounts 2020-04-01 2020-12-31 10645493 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2020-12-31 10645493 bus:PrivateLimitedCompanyLtd 2020-04-01 2020-12-31

COMPANY REGISTRATION NUMBER: 10645493

GRANDSLAM HOLDINGS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2020

GRANDSLAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2020

	31 Dec 20	31 Mar 20
Note	£	£

Fixed assets

Tangible assets	5	331,783	–

Current assets

Debtors	6	62,502	2
Cash at bank and in hand		50,000	–
		----------	----
		112,502	2

Creditors: amounts falling due within one year	7	394,283	–
		----------	----
Net current (liabilities)/assets		( 281,781)	2
		----------	----
Total assets less current liabilities		50,002	2

Creditors: amounts falling due after more than one year	8	50,000	–
		---------	----
Net assets		2	2
		---------	----

Capital and reserves

Called up share capital	2	2
	----	----
Shareholder funds	2	2
	----	----

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 period ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GRANDSLAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 30 September 2021 , and are signed on behalf of the board by:

Mrs E L Doogan-Hobbs
Director

Company registration number: 10645493

GRANDSLAM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 APRIL 2020 TO 31 DECEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Music Factory, Jessop Way, Newark, NG24 2ER.

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 and in sterling , which is the functional currency of the entity. Due to Covid-19 the company was unable to trade throughout the year.

Going concern

The late summer of 2021 saw the re-emergence of the Live Events industry following the COVID pandemic. The order book for late 2021 was very strong. With the delivery of these successful events, the Directors have every confidence for the future Accordingly the financial statements have been prepared on a going concern basis.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements other than to defer depreciation on the fixed assets until they were brought into use in 2021.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2019: 1).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 April 2020	–
Additions	331,783
	----------
At 31 December 2020	331,783
	----------
Depreciation
At 1 April 2020 and 31 December 2020	–
	----------
Carrying amount
At 31 December 2020	331,783
	----------
At 31 March 2020	–
	----------

6. Debtors

	31 Dec 20	31 Mar 20
	£	£
Other debtors	62,502	2
	---------	----

7. Creditors: amounts falling due within one year

	31 Dec 20	31 Mar 20
	£	£
Trade creditors	19,283	–
Other creditors	375,000	–
	----------	----
	394,283	–
	----------	----

The Director loaned the company £375,000 during the period. The loan is unsecured and interest free.

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

	31 Dec 20	31 Mar 20
	£	£
Bank loans and overdrafts	50,000	–
	---------	----

Included within creditors: amounts falling due after more than one year is an amount of £27,840 (2020: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan which is due for repayment after more than 5 years is subject to a market rate of interest and is repayable in monthly installments.