REGISTERED NUMBER: 10477392 (England and Wales)

Greyson Whitley Limited

Directors' Report and

Unaudited Financial Statements

for the period

1 December 2021 to 31 December 2022

Page

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

Directors:

C I Gove

D Rookwood

Registered office:

7 Rothbury Road

Hackney Wick

London

E9 5HA

Registered number:

10477392 (England and Wales)

The directors present their report with the financial statements of the company for the period 1 December 2021 to 31 December 2022.

Directors

C I Gove has held office during the whole of the period from 1 December 2021 to the date of this report.

Other changes in directors holding office are as follows:

D Rookwood was appointed as a director after 31 December 2022 but prior to the date of this report.

P Basran ceased to be a director after 31 December 2022 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

C I Gove - Director

2 October 2023

Fixed assets

Tangible assets

4

46,283

59,344

Current assets

Stocks

1,641,673

639,336

Debtors

5

1,223,892

637,971

Cash at bank

730,721

548,124

3,596,286

1,825,431

Creditors

Amounts falling due within one year

6

1,717,507

215,721

Net current assets

1,878,779

1,609,710

Total assets less current liabilities

1,925,062

1,669,054

Capital and reserves

Called up share capital

211

173

Share premium

5,649,876

3,149,913

Retained earnings

(3,725,025

)

(1,481,032

)

Shareholders' funds

1,925,062

1,669,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:

C I Gove - Director

1.	Statutory information

Greyson Whitley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Long period

The current year consists of a 13 month period from 1 December 2021 to 31 December 2022. As the prior year figures represent a 12 month period to 30 November 2021, the comparative figures are not entirely comparable.

Turnover

Turnover represents amounts receivable for goods and services provided in the period and is stated net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the period was 27 (2021 - 15 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 December 2021

23,000

14,355

30,514

67,869

Additions

-

1,760

15,943

17,703

Disposals

(11,500

)

-

-

(11,500

)

At 31 December 2022

11,500

16,115

46,457

74,072

Depreciation

At 1 December 2021

2,396

2,194

3,935

8,525

Charge for period

3,593

4,230

13,357

21,180

Eliminated on disposal

(1,916

)

-

-

(1,916

)

At 31 December 2022

4,073

6,424

17,292

27,789

Net book value

At 31 December 2022

7,427

9,691

29,165

46,283

At 30 November 2021

20,604

12,161

26,579

59,344

5.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

144,362

189,482

Other debtors

1,079,530

448,489

1,223,892

637,971

6.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

654,150

160,428

Taxation and social security

403,042

40,967

Other creditors

660,315

14,326

1,717,507

215,721