GRW_ENGINEERING_UK_LTD - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GRW Engineering UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Queens Business Centre, 62 Weasenham Lane, Wisbech, Cambridgeshire, England, PE13 2RU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

There are two charges registered on the company:

a) Barclays Bank Plc have a registered charge dated 5 November 2013 over a deposit of £5,000 in the

event of the current account being overdrawn.

b) Absa Bank Limited have a registered charge dated 1 August 2014 in the event of a default on the

group's borrowing facilities. As GRW Engineering UK Ltd is consolidated into the group controlled by

GRW Holdings (Pty) Ltd, the charge includes a cession of debtors from the UK company

At the end of the financial year £428,394 (2022: £552,190) was owed by GRW Engineering UK Ltd to GRW Engineering (Pty) Ltd.