2022-04-012023-03-312023-03-31false10438374GRAYLING MORTGAGE SOLUTIONS 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GRAYLING MORTGAGE SOLUTIONS LIMITED

Registered Number
10438374
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

GRAYLING MORTGAGE SOLUTIONS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

SPENCER, Jayne Nicola
SPENCER, Jonathan Andrew

Registered Address

Newland House The Point
Weaver Road
Lincoln
LN6 3QN

Registered Number

10438374 (England and Wales)
GRAYLING MORTGAGE SOLUTIONS LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets52,6103,046
2,6103,046
Current assets
Debtors16,09918,591
Cash at bank and on hand11,8945,069
27,99323,660
Creditors amounts falling due within one year(18,698)(14,351)
Net current assets (liabilities)9,2959,309
Total assets less current liabilities11,90512,355
Provisions for liabilities(431)(555)
Net assets11,47411,800
Capital and reserves
Called up share capital100100
Profit and loss account11,37411,700
Shareholders' funds11,47411,800
The financial statements were approved and authorised for issue by the Board of Directors on 15 November 2023, and are signed on its behalf by:
SPENCER, Jayne Nicola
Director
SPENCER, Jonathan Andrew
Director

Registered Company No. 10438374
GRAYLING MORTGAGE SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard. The financial statements have been prepared under the historical cost convention.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable excluding discounts and rebates.
Property, plant and equipment policy
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Office Equipment-3
Deferred tax policy
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Leases policy
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Valuation of financial instruments policy
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 224,984
Additions504
At 31 March 235,488
Depreciation and impairment
At 01 April 221,938
Charge for year940
At 31 March 232,877
Net book value
At 31 March 232,610
At 31 March 223,046
6.Description of financial commitments other than capital commitments
Minimum lease payments under non-cancellable operating leases falling due within one year are £1,470 (2022: £1,470).
7.Description of nature of transactions and balances with related parties
During the year dividends were paid to directors of £71,297 (2022: £66,495).
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
SPENCER, Jonathan Andrew8,332169,758170,4297,661
8,332169,758170,4297,661
The directors loan is unsecured and interest was charged at the relevant official rate.