Company No: 03963433 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	Catherine Causebrook
	James Nicholas Causebrook
	Samantha Laurin Smith

REGISTERED OFFICE	18 Northgate
	Sleaford
	Lincolnshire
	NG34 7BJ
	United Kingdom

BUSINESS ADDRESS	Blankney Grange Unit 1
	Longwood Lane
	Blankney
	Lincoln
	England
	LN4 3BD

COMPANY NUMBER

03963433 (England and Wales)

ACCOUNTANT	Duncan & Toplis Limited
	18 Northgate
	Sleaford
	Lincolnshire
	NG34 7BJ

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	15,930		15,779
		15,930		15,779
Current assets
Stocks	4	71,594		100,385
Debtors	5	646,123		590,128
Cash at bank and in hand		161,796		138,311
		879,513		828,824
Creditors: amounts falling due within one year	6	( 550,583)		( 308,037)
Net current assets		328,930		520,787
Total assets less current liabilities		344,860		536,566
Creditors: amounts falling due after more than one year	7	( 16,437)		( 25,812)
Provision for liabilities		( 3,527)		( 2,613)
Net assets		324,896		508,141
Capital and reserves
Called-up share capital	8	27		27
Profit and loss account		324,869		508,114
Total shareholders' funds		324,896		508,141

For the financial year ending 31 October 2023 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Grunwald Limited (registered number: 03963433) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

James Nicholas Causebrook Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grunwald Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Northgate, Sleaford, Lincolnshire, NG34 7BJ, United Kingdom. The principal place of business is Blankney Grange Unit 1, Longwood Lane, Blankney, Lincoln, England, LN4 3BD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	10 - 25 % reducing balance

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		14

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 November 2022	2,498		45,935		48,433
Additions	0		4,911		4,911
At 31 October 2023	2,498		50,846		53,344
Accumulated depreciation
At 01 November 2022	475		32,179		32,654
Charge for the financial year	202		4,558		4,760
At 31 October 2023	677		36,737		37,414
Net book value
At 31 October 2023	1,821		14,109		15,930
At 31 October 2022	2,023		13,756		15,779

4. Stocks

	2023		2022
	£		£
Stocks	71,594		100,385

5. Debtors

	2023		2022
	£		£
Trade debtors	325,616		236,976
Amounts owed by related parties	175,315		213,326
Other debtors	145,192		139,826
	646,123		590,128

6. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	10,100		10,648
Trade creditors	376,854		120,303
Taxation and social security	142,961		148,484
Other creditors	20,668		28,602
	550,583		308,037

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

	2023		2022
	£		£
Bank loans	16,437		25,812

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
90 A ordinary shares of £ 0.20 each	18		18
20 B ordinary shares of £ 0.20 each	4		4
10 C ordinary shares of £ 0.20 each	2		2
13 D ordinary shares of £ 0.20 each	3		3
	27		27

9. Related party transactions

Transactions with the entity's directors

	2023		2022
	£		£
Balances outstanding at start of year	139,505		141,263
Amounts advanced	145,050		140,246
Amounts repaid	(141,137)		(142,004)
Balance outstanding at the end of year	143,418		139,505

Individual balances owed from the Directors are J N Causebrook £50,406 (2022: £47,316), Mrs C Causebrook £45,414 (2022: £46,202) and Mrs S L Smith £47,598 (2022: £45,987).

Interest on overdrawn directors current accounts is charged at the official rate. Loans made to the directors are unsecured and repayable on demand.