Company Registration No. 07886509 (England and Wales)
Grace Digital Limited
Unaudited accounts
for the year ended 31 December 2021
Grace Digital Limited
Unaudited accounts
Contents
Grace Digital Limited
Company Information
for the year ended 31 December 2021
Company Number
07886509 (England and Wales)
Registered Office
Dingley Dell, Truslers Hill Lane
Albourne
Hassocks
BN6 9DU
England
Accountants
Afresh Accountants Limited
3 Wilbury Villas
Hove
East Sussex
BN3 6GB
Grace Digital Limited
Statement of financial position
as at 31 December 2021
Tangible assets
7,875
10,499
Cash at bank and in hand
7,443
23,720
Creditors: amounts falling due within one year
(21,442)
(23,808)
Net current liabilities
(7,786)
(88)
Total assets less current liabilities
89
10,411
Creditors: amounts falling due after more than one year
-
(9,000)
Called up share capital
2
2
Profit and loss account
87
1,409
Shareholders' funds
89
1,411
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2022 and were signed on its behalf by
Jon Mason
Director
Company Registration No. 07886509
Grace Digital Limited
Notes to the Accounts
for the year ended 31 December 2021
Grace Digital Limited is a private company, limited by shares, registered in England and Wales, registration number 07886509. The registered office is Dingley Dell, Truslers Hill Lane, Albourne, Hassocks, BN6 9DU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% reducing balance
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
29,159
18,565
4,904
52,628
At 31 December 2021
29,159
18,565
4,904
52,628
At 1 January 2021
21,419
17,171
3,539
42,129
Charge for the year
1,935
348
341
2,624
At 31 December 2021
23,354
17,519
3,880
44,753
At 31 December 2021
5,805
1,046
1,024
7,875
At 31 December 2020
7,740
1,394
1,365
10,499
5
Debtors: amounts falling due within one year
2021
2020
Grace Digital Limited
Notes to the Accounts
for the year ended 31 December 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
8,100
-
Taxes and social security
9,444
13,180
Loans from directors
-
1,962
7
Creditors: amounts falling due after more than one year
2021
2020
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts owing by director
(1,962)
8,175
-
6,213
The overdrawn loan account was repaid in September 22
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).