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REGISTERED NUMBER: 07856911 (England and Wales)











Malcolm Gray & Associates (Sutton)
Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Malcolm Gray & Associates (Sutton)
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S A Wright
Mrs K Hartland





REGISTERED OFFICE: 336 Lichfield Road
Sutton Coldfield
West Midlands
B74 4BH





REGISTERED NUMBER: 07856911 (England and Wales)





ACCOUNTANTS: Haines Watts Tamworth Limited
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 5,532
Tangible assets 6 7,561 9,739
7,561 15,271

CURRENT ASSETS
Stocks 58,976 51,000
Debtors 7 54,551 29,948
Cash at bank and in hand 133,030 118,222
246,557 199,170
CREDITORS
Amounts falling due within one year 8 77,129 88,477
NET CURRENT ASSETS 169,428 110,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,989

125,964

PROVISIONS FOR LIABILITIES 1,353 1,749
NET ASSETS 175,636 124,215

CAPITAL AND RESERVES
Called up share capital 10 6 6
Retained earnings 175,630 124,209
SHAREHOLDERS' FUNDS 175,636 124,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Statement of Financial Position - continued
31 March 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2023 and were signed on its behalf by:





S A Wright - Director


Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Malcolm Gray & Associates (Sutton) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 10 years.

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 etc - 25% on cost and 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 165,997
AMORTISATION
At 1 April 2022 160,465
Charge for year 5,532
At 31 March 2023 165,997
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 5,532

Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 44,403
Additions 926
At 31 March 2023 45,329
DEPRECIATION
At 1 April 2022 34,664
Charge for year 3,104
At 31 March 2023 37,768
NET BOOK VALUE
At 31 March 2023 7,561
At 31 March 2022 9,739

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,867 25,129
Other debtors 19,684 4,819
54,551 29,948

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,786 54,443
Taxation and social security 40,125 23,544
Other creditors 8,218 10,490
77,129 88,477

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,610 5,521
Between one and five years 2,485 -
In more than five years 2,485 -
7,580 5,521

Malcolm Gray & Associates (Sutton)
Limited (Registered number: 07856911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary A £1 2 2
2 Ordinary B £1 2 2
2 Ordinary C £1 2 2
6 6

11. RELATED PARTY DISCLOSURES

At the balance sheet date the amount owed by the directors was £14,745 (2022 £57 owed to the directors), this was fully repaid following the year end.