2021-03-012022-02-282022-02-28false09428374Graystone Communications 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Graystone Communications Limited

Registered Number
09428374
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2022

Graystone Communications Limited
Company Information
for the year from 1 March 2021 to 28 February 2022

Directors

Robert Gray Briggs

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

09428374 (England and Wales)
Graystone Communications Limited
Balance Sheet as at
28 February 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets61,1182,632
1,1182,632
Current assets
Debtors-1,675
-1,675
Creditors amounts falling due within one year8(14,434)(8,786)
Net current assets (liabilities)(14,434)(7,111)
Total assets less current liabilities(13,316)(4,479)
Creditors amounts falling due after one year-(976)
Provisions for liabilities-(500)
Net assets(13,316)(5,955)
Capital and reserves
Called up share capital22
Profit and loss account(13,318)(5,957)
Shareholders' funds(13,316)(5,955)
The financial statements were approved and authorised for issue by the Director on 12 August 2022, and are signed on its behalf by:
Robert Gray Briggs
Director
Registered Company No. 09428374
Graystone Communications Limited
Notes to the Financial Statements
for the year ended 28 February 2022

1.Statutory information
Graystone Communications Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the period under review was that of other business support service activities not elsewhere classified.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Computer equipment - 33% on cost
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going concern
The company will have sufficient resources to meet its financial obligations, director suggests that it is appropriate to prepare financial statements on a going concern basis.
5.Employee information

20222021
Average number of employees during the year--
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 2113,871
At 28 February 2213,871
Depreciation and impairment
At 01 March 2111,239
Charge for year1,514
At 28 February 2212,753
Net book value
At 28 February 221,118
At 28 February 212,632
7.Debtors within one year

2022

2021

££
Other debtors-1,675
Total-1,675
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2022

2021

££
Bank borrowings and overdrafts-1,959
Amounts owed to related parties9,9321,198
Other creditors3,3624,489
Accrued liabilities and deferred income1,1401,140
Total14,4348,786
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.