Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01false89truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC289042 2022-04-01 2023-03-31 SC289042 2021-04-01 2022-03-31 SC289042 2023-03-31 SC289042 2022-03-31 SC289042 c:CompanySecretary1 2022-04-01 2023-03-31 SC289042 c:Director1 2022-04-01 2023-03-31 SC289042 c:Director2 2022-04-01 2023-03-31 SC289042 c:Director3 2022-04-01 2023-03-31 SC289042 c:RegisteredOffice 2022-04-01 2023-03-31 SC289042 d:Buildings 2022-04-01 2023-03-31 SC289042 d:Buildings 2023-03-31 SC289042 d:Buildings 2022-03-31 SC289042 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC289042 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 SC289042 d:PlantMachinery 2022-04-01 2023-03-31 SC289042 d:PlantMachinery 2023-03-31 SC289042 d:PlantMachinery 2022-03-31 SC289042 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC289042 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC289042 d:CurrentFinancialInstruments 2023-03-31 SC289042 d:CurrentFinancialInstruments 2022-03-31 SC289042 d:Non-currentFinancialInstruments 2023-03-31 SC289042 d:Non-currentFinancialInstruments 2022-03-31 SC289042 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC289042 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC289042 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC289042 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC289042 d:ShareCapital 2023-03-31 SC289042 d:ShareCapital 2022-03-31 SC289042 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC289042 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC289042 c:FRS102 2022-04-01 2023-03-31 SC289042 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC289042 c:FullAccounts 2022-04-01 2023-03-31 SC289042 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC289042 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: SC289042










GRAY COMPOSTING SERVICES LIMITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
GRAY COMPOSTING SERVICES LIMITED
 

COMPANY INFORMATION


DIRECTORS
C W Gray 
Mrs M H Gray 
P W Gray 




COMPANY SECRETARY
Mrs M H Gray



REGISTERED NUMBER
SC289042



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
GRAY COMPOSTING SERVICES LIMITED
REGISTERED NUMBER: SC289042

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
683,480
711,786

Investments
 5 
50
50

  
683,530
711,836

CURRENT ASSETS
  

Stocks
  
7,537
4,770

Debtors: amounts falling due within one year
 6 
117,407
100,685

Cash at bank and in hand
  
203,469
53,468

  
328,413
158,923

Creditors: amounts falling due within one year
 7 
(223,185)
(160,484)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
105,228
 
 
(1,561)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
788,758
710,275

Creditors: amounts falling due after more than one year
 8 
(21,714)
(31,667)

PROVISIONS FOR LIABILITIES
  

Deferred Tax
  
(137,756)
(141,495)

  
 
 
(137,756)
 
 
(141,495)

NET ASSETS
  
629,288
537,113


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
629,188
537,013

  
629,288
537,113


Page 1

 
GRAY COMPOSTING SERVICES LIMITED
REGISTERED NUMBER: SC289042

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.




C W Gray
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GRAY COMPOSTING SERVICES LIMITED
 

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

1.


GENERAL INFORMATION

Gray Composting Services Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC289042. The registered office is Westby, 64 West High Street, Forfar, DD8 1BJ.  The trading address is Greenacres, Portsoy, Banff, AB45 2UL.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
GRAY COMPOSTING SERVICES LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Tenants improvements
-
4% straight line
Plant and machinery
-
12.5% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 4

 
GRAY COMPOSTING SERVICES LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
GRAY COMPOSTING SERVICES LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 8 (2022 - 9).


4.


TANGIBLE FIXED ASSETS





Tenants' improvements
Plant and Machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
257,523
1,085,184
1,342,707


Additions
-
62,700
62,700



At 31 March 2023

257,523
1,147,884
1,405,407



Depreciation


At 1 April 2022
128,652
502,269
630,921


Charge for the year on owned assets
10,300
80,706
91,006



At 31 March 2023

138,952
582,975
721,927



Net book value



At 31 March 2023
118,571
564,909
683,480



At 31 March 2022
128,871
582,915
711,786


5.


FIXED ASSET INVESTMENTS





Unlisted Investments

£



Cost or valuation


At 1 April 2022
50



At 31 March 2023
50




Page 6

 
GRAY COMPOSTING SERVICES LIMITED
 

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

6.


DEBTORS

2023
2022
£
£


Trade debtors
117,407
87,725

Other debtors
-
12,960

117,407
100,685



7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,021
10,089

Trade creditors
32,538
4,871

Amounts owed to group undertakings
132,362
131,251

Other taxation and social security
48,264
976

Obligations under finance lease and hire purchase contracts
-
13,297

223,185
160,484



8.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,714
31,667

21,714
31,667



Page 7