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REGISTERED NUMBER: 05917426 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GRACEBLUE (EMEA) LIMITED

GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

GRACEBLUE (EMEA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M V Lockett
J Haines
I Priest
S Skinner





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH





REGISTERED NUMBER: 05917426 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,733 11,117

CURRENT ASSETS
Debtors 5 1,701,698 3,256,246
Cash at bank 29,818 1,061,895
1,731,516 4,318,141
CREDITORS
Amounts falling due within one year 6 1,091,650 1,130,613
NET CURRENT ASSETS 639,866 3,187,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

653,599

3,198,645

CREDITORS
Amounts falling due after more than one
year

7

280,000

400,000
NET ASSETS 373,599 2,798,645

CAPITAL AND RESERVES
Called up share capital 2,020 2,020
Share premium 369,061 372,491
Capital redemption reserve 352 352
Retained earnings 2,166 2,423,782
373,599 2,798,645

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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:



I Priest - Director


GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Graceblue (EMEA) 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.

Turnover
Turnover represents net consultancy fees and services receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% Straight line
Computer equipment - 25% Straight line

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and investments in equity instruments.

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Other financial assets such as investments in equity instruments other than subsidiaries, associates or joint ventures are initially measured at fair value, which is usually the transaction price. Such assets are subsequently carried at fair value with any changes in fair value recognised in profit or loss except where the instruments are not publicly traded and their value cannot be reliably measured in which case they are measured at cost less impairment.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 money purchase pension schemes for some of its directors and employees. Contributions payable to the company's pension schemes are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 1,776 50,257 52,033
Additions - 11,071 11,071
At 31 March 2023 1,776 61,328 63,104
DEPRECIATION
At 1 April 2022 1,151 39,765 40,916
Charge for year 355 8,100 8,455
At 31 March 2023 1,506 47,865 49,371
NET BOOK VALUE
At 31 March 2023 270 13,463 13,733
At 31 March 2022 625 10,492 11,117

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 433,753 692,159
Amounts owed by group undertakings 329,850 304
Other debtors 29,904 17,280
Amount owed by related
undertakings 330,366 1,420,660
Directors' current accounts 134,279 809,878
Corporation tax recoverable 244,866 242,636
Prepayments and accrued income 198,680 73,329
1,701,698 3,256,246

GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 120,000 120,000
Trade creditors 177,422 60,926
Tax 1,406 100,177
Social security and other taxes 64,219 60,967
VAT 15,539 199,959
Other creditors 8,397 2,701
Amounts owed to related
undertakings 55,174 55,174
Directors' current accounts 369,996 -
Accruals and deferred income 279,497 530,709
1,091,650 1,130,613

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 120,000 120,000
Bank loans - 2-5 years 160,000 280,000
280,000 400,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 37,380 124,600
Between one and five years - 24,920
37,380 149,520

The company's lease on their office space ended after the year end but the company has since entered into a new lease on office space.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J Timms
Balance outstanding at start of year 675,973 640,989
Amounts advanced - 34,984
Amounts repaid (675,973 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 675,973

GRACEBLUE (EMEA) LIMITED (REGISTERED NUMBER: 05917426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J Haines
Balance outstanding at start of year 133,905 88,851
Amounts advanced - 45,054
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 133,905 133,905

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRACEBLUE (EMEA) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graceblue (EMEA) Limited for the year ended 31 March 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Graceblue (EMEA) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graceblue (EMEA) Limited and state those matters that we have agreed to state to the Board of Directors of Graceblue (EMEA) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graceblue (EMEA) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graceblue (EMEA) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Graceblue (EMEA) Limited. You consider that Graceblue (EMEA) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graceblue (EMEA) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


18 October 2023