GRD Precision Limited 30/09/2022 iXBRL

GRD Precision Limited 30/09/2022 iXBRL

GRD PRECISION LIMITED - Company Information

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15 30/09/2022 2022-09-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04770503 2021-10-01 2022-09-30 04770503 2022-09-30 04770503 2021-09-30 04770503 2020-10-01 2021-09-30 04770503 2021-09-30 04770503 core:PlantMachinery 2021-10-01 2022-09-30 04770503 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 04770503 core:MotorVehicles 2021-10-01 2022-09-30 04770503 core:OnerousContractsExcludingVacantProperties 2021-10-01 2022-09-30 04770503 bus:RegisteredOffice 2021-10-01 2022-09-30 04770503 bus:LeadAgentIfApplicable 2021-10-01 2022-09-30 04770503 bus:Director1 2021-10-01 2022-09-30 04770503 bus:Director2 2021-10-01 2022-09-30 04770503 bus:CompanySecretary1 2021-10-01 2022-09-30 04770503 core:PlantMachinery 2021-09-30 04770503 core:FurnitureFittingsToolsEquipment 2021-09-30 04770503 core:MotorVehicles 2021-09-30 04770503 core:PlantMachinery 2022-09-30 04770503 core:FurnitureFittingsToolsEquipment 2022-09-30 04770503 core:MotorVehicles 2022-09-30 04770503 core:WithinOneYear 2022-09-30 04770503 core:WithinOneYear 2021-09-30 04770503 core:ShareCapital 2022-09-30 04770503 core:ShareCapital 2021-09-30 04770503 core:CapitalRedemptionReserve 2022-09-30 04770503 core:CapitalRedemptionReserve 2021-09-30 04770503 core:RetainedEarningsAccumulatedLosses 2022-09-30 04770503 core:RetainedEarningsAccumulatedLosses 2021-09-30 04770503 core:PlantMachinery 2021-09-30 04770503 core:FurnitureFittingsToolsEquipment 2021-09-30 04770503 core:MotorVehicles 2021-09-30 04770503 bus:SmallEntities 2021-10-01 2022-09-30 04770503 bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 04770503 bus:FullAccounts 2021-10-01 2022-09-30 04770503 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 04770503 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 04770503 core:OtherPropertyPlantEquipment 2021-10-01 2022-09-30 04770503 core:OtherPropertyPlantEquipment 2021-09-30 04770503 core:OtherPropertyPlantEquipment 2022-09-30 04770503 1 2021-10-01 2022-09-30
Company registration number: 04770503
GRD Precision Limited
Unaudited filleted financial statements
30 September 2022
GRD Precision Limited
Directors and other information
Directors Mr Roy William Dawrant
Mrs J L Dawrant
Secretary Mrs J L Dawrant
Company number 04770503
Registered office Jubilee House
Cliffe Road
Brighouse
HD6 1HE
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Bankers Clydesdale Bank Plc
12 Bradford Road
Cleckheaton
BD19 3RJ
GRD Precision Limited
Statement of financial position
30 September 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 64,864 69,168
_______ _______
64,864 69,168
Current assets
Stocks 60,000 60,000
Debtors 6 207,131 206,277
Cash at bank and in hand 888,902 902,905
_______ _______
1,156,033 1,169,182
Creditors: amounts falling due
within one year 7 ( 202,652) ( 192,380)
_______ _______
Net current assets 953,381 976,802
_______ _______
Total assets less current liabilities 1,018,245 1,045,970
Provisions for liabilities ( 12,075) ( 12,838)
_______ _______
Net assets 1,006,170 1,033,132
_______ _______
Capital and reserves
Called up share capital 500 500
Capital redemption reserve 500 500
Profit and loss account 1,005,170 1,032,132
_______ _______
Shareholders funds 1,006,170 1,033,132
_______ _______
For the year ending 30 September 2022 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 January 2023 , and are signed on behalf of the board by:
Mr Roy William Dawrant
Director
Company registration number: 04770503
GRD Precision Limited
Notes to the financial statements
Year ended 30 September 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is GRD Precision Limited, Jubilee House, Cliffe Road, Brighouse, HD6 1HE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis .
Tangible assets
tangible assets are initially recorded at cost, and are 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 - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
User defined asset - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2021: 15 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Tangible assets - user defined Total
£ £ £ £ £
Cost
At 1 October 2021 413,712 20,089 78,176 20,853 532,830
Additions 15,405 - - - 15,405
_______ _______ _______ _______ _______
At 30 September 2022 429,117 20,089 78,176 20,853 548,235
_______ _______ _______ _______ _______
Depreciation
At 1 October 2021 375,986 16,462 52,645 18,569 463,662
Charge for the year 10,626 725 6,383 1,975 19,709
_______ _______ _______ _______ _______
At 30 September 2022 386,612 17,187 59,028 20,544 483,371
_______ _______ _______ _______ _______
Carrying amount
At 30 September 2022 42,505 2,902 19,148 309 64,864
_______ _______ _______ _______ _______
At 30 September 2021 37,726 3,627 25,531 2,284 69,168
_______ _______ _______ _______ _______
6. Debtors
2022 2021
£ £
Trade debtors 198,851 195,652
Other debtors 8,280 10,625
_______ _______
207,131 206,277
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 50,087 26,091
Corporation tax 8,513 19,462
Social security and other taxes 69,260 66,838
Other creditors 74,792 79,989
_______ _______
202,652 192,380
_______ _______
8. Controlling party
The company was controlled throughout the year by the directors who own 100% of the issued share capital.