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REGISTERED NUMBER: 11896034 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Gracious Lane Living Ltd

Gracious Lane Living Ltd (Registered number: 11896034)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gracious Lane Living Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: E E Fry





REGISTERED OFFICE: Suite 15
The Enterprise Centre
Coaxbridge Business Park
Farnham
Surrey
GU10 5EH





REGISTERED NUMBER: 11896034 (England and Wales)





ACCOUNTANTS: Gilroy & Brookes Accountants Ltd
Suite 15
The Enterprise Centre
Coxbridge Business Park
Farnham
Surrey
GU10 5EH

Gracious Lane Living Ltd (Registered number: 11896034)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,105 7,122

CURRENT ASSETS
Stocks 5 10,000 48,000
Debtors 6 22,976 17,969
Cash at bank 12,894 14,707
45,870 80,676
CREDITORS
Amounts falling due within one year 7 (113,220 ) (81,808 )
NET CURRENT LIABILITIES (67,350 ) (1,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(61,245

)

5,990

CREDITORS
Amounts falling due after more than one
year

8

(19,535

)

(19,828

)
NET LIABILITIES (80,780 ) (13,838 )

CAPITAL AND RESERVES
Called up share capital 10 124 124
Share premium 144,962 144,962
Retained earnings (225,866 ) (158,924 )
SHAREHOLDERS' FUNDS (80,780 ) (13,838 )

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 director acknowledges his 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.

Gracious Lane Living Ltd (Registered number: 11896034)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2023 and were signed by:





E E Fry - Director


Gracious Lane Living Ltd (Registered number: 11896034)

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

1. STATUTORY INFORMATION

Gracious Lane Living Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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 balance sheet date.

DEFERRED TAX
Deferred tax asset is not recognised as it is not probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits

3. EMPLOYEES AND DIRECTORS

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

Gracious Lane Living Ltd (Registered number: 11896034)

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

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2022
and 31 March 2023 10,175
AMORTISATION
At 1 April 2022 3,053
Amortisation for year 1,017
At 31 March 2023 4,070
NET BOOK VALUE
At 31 March 2023 6,105
At 31 March 2022 7,122

5. STOCKS
2023 2022
£    £   
Stocks 10,000 48,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,574 2,634
Other debtors 10 10
Prepayments 16,392 15,325
22,976 17,969

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 15,619 -
Other loans (see note 9) 50,000 50,000
Trade creditors 11,877 14,907
VAT 4,171 1,675
Credit card 7,231 1,195
Directors' current accounts 24,309 14,018
Accruals and deferred income 13 13
113,220 81,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 19,535 19,828

Gracious Lane Living Ltd (Registered number: 11896034)

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

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 10,700 -
Shopify Capital Loan 4,919 -
Other loans 50,000 50,000
65,619 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,535 19,828

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
114,254 Ordinary A 0.01 114 114
10,000 Ordinary B 0.01 10 10
124 124

11. ULTIMATE CONTROLLING PARTY

The company is under the control of E E Fry.

12. GOING CONCERN

The directors have confirmed that they will continue to give financial support to the company until such time as its position improves.In addition, the director have confirmed that they will not recall their loan within 12 months. The director considers that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support was withdrawn.