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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
Page
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Grace Digital Limited Company Information for the year ended 31 December 2021
Director
Jon Mason
Secretary
Jon Mason
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
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Grace Digital Limited Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,875 
10,499 
Current assets
Debtors
6,213 
- 
Cash at bank and in hand
7,443 
23,720 
13,656 
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)
Net assets
89 
1,411 
Capital and reserves
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
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Grace Digital Limited Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Depreciation
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 
Net book value
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 
£ 
£ 
Other debtors
6,213 
- 
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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 
- 
VAT
2,441 
6,580 
Trade creditors
- 
1,286 
Taxes and social security
9,444 
13,180 
Loans from directors
- 
1,962 
Accruals
1,457 
800 
21,442 
23,808 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
- 
9,000 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Jon Mason
Amounts owing by director
(1,962)
8,175 
- 
6,213 
(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).
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