D. Gregory Limited 07089114 false 2021-03-01 2022-02-28 2022-02-28 The principal activity of the company is Dentistry Digita Accounts Production Advanced 6.30.9574.0 true 07089114 2021-03-01 2022-02-28 07089114 2022-02-28 07089114 bus:OrdinaryShareClass1 2022-02-28 07089114 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-02-28 07089114 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-02-28 07089114 core:CurrentFinancialInstruments 2022-02-28 07089114 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 07089114 core:Non-currentFinancialInstruments 2022-02-28 07089114 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 07089114 core:Goodwill 2022-02-28 07089114 core:FurnitureFittingsToolsEquipment 2022-02-28 07089114 bus:SmallEntities 2021-03-01 2022-02-28 07089114 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 07089114 bus:FullAccounts 2021-03-01 2022-02-28 07089114 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 07089114 bus:RegisteredOffice 2021-03-01 2022-02-28 07089114 bus:Director1 2021-03-01 2022-02-28 07089114 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 07089114 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 07089114 core:Goodwill 2021-03-01 2022-02-28 07089114 core:FurnitureFittings 2021-03-01 2022-02-28 07089114 core:FurnitureFittingsToolsEquipment 2021-03-01 2022-02-28 07089114 countries:EnglandWales 2021-03-01 2022-02-28 07089114 2021-02-28 07089114 core:Goodwill 2021-02-28 07089114 core:FurnitureFittingsToolsEquipment 2021-02-28 07089114 2020-03-01 2021-02-28 07089114 2021-02-28 07089114 bus:OrdinaryShareClass1 2021-02-28 07089114 core:HirePurchaseContracts core:CurrentFinancialInstruments 2021-02-28 07089114 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2021-02-28 07089114 core:CurrentFinancialInstruments 2021-02-28 07089114 core:CurrentFinancialInstruments core:WithinOneYear 2021-02-28 07089114 core:Non-currentFinancialInstruments 2021-02-28 07089114 core:Non-currentFinancialInstruments core:AfterOneYear 2021-02-28 07089114 core:Goodwill 2021-02-28 07089114 core:FurnitureFittingsToolsEquipment 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07089114

D. Gregory Limited

trading as D Gregory Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

D. Gregory Limited

trading as D Gregory Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

D. Gregory Limited

trading as D Gregory Limited

Company Information

Director

Mr Duncan Lawrence Gregory

Registered office

Moyola House
31 Hawthorne Grove
Heworth
York
North Yorkshire
YO31 7YA

Accountants

Minford Chartered Accountants
Moyola House
31 Hawthorne Grove
York
North Yorkshire
YO31 7YA

 

D. Gregory Limited

trading as D Gregory Limited

(Registration number: 07089114)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

5

83,409

89,909

Tangible assets

6

20,890

27,853

 

104,299

117,762

Current assets

 

Stocks

7

525

525

Debtors

8

6,507

5,851

Cash at bank and in hand

 

58,483

62,454

 

65,515

68,830

Creditors: Amounts falling due within one year

9

(57,976)

(62,262)

Net current assets

 

7,539

6,568

Total assets less current liabilities

 

111,838

124,330

Creditors: Amounts falling due after more than one year

9

(49,244)

(72,109)

Net assets

 

62,594

52,221

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

62,494

52,121

Shareholders' funds

 

62,594

52,221

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 July 2022
 

 

D. Gregory Limited

trading as D Gregory Limited

(Registration number: 07089114)
Balance Sheet as at 28 February 2022

.........................................
Mr Duncan Lawrence Gregory
Director

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Moyola House
31 Hawthorne Grove
Heworth
York
North Yorkshire
YO31 7YA

The principal place of business is:
1 Soutergate
Ulverston
Cumbria
LA12 7ER

These financial statements were authorised for issue by the director on 15 July 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% RB

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

19Yr SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2021 - 9).

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

6,963

9,284

Amortisation expense

6,500

6,500

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2021

123,491

123,491

At 28 February 2022

123,491

123,491

Amortisation

At 1 March 2021

33,582

33,582

Amortisation charge

6,500

6,500

At 28 February 2022

40,082

40,082

Carrying amount

At 28 February 2022

83,409

83,409

At 28 February 2021

89,909

89,909

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

63,864

63,864

At 28 February 2022

63,864

63,864

Depreciation

At 1 March 2021

36,011

36,011

Charge for the year

6,963

6,963

At 28 February 2022

42,974

42,974

Carrying amount

At 28 February 2022

20,890

20,890

At 28 February 2021

27,853

27,853

7

Stocks

2022
£

2021
£

Other inventories

525

525

8

Debtors

Current

2022
£

2021
£

Trade debtors

5,000

5,104

Prepayments

1,507

747

 

6,507

5,851

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

9

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

11

17,131

34,803

Trade creditors

 

5,337

3,500

Taxation and social security

 

19,692

13,974

Accruals and deferred income

 

3,336

3,000

Other creditors

 

12,480

6,985

 

57,976

62,262

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

11

49,244

72,109

 

D. Gregory Limited

trading as D Gregory Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

32,251

50,000

Hire purchase contracts

16,993

22,109

49,244

72,109

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,648

28,140

Hire purchase contracts

6,483

6,663

17,131

34,803