Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28motion picture production servicesThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-01false22truetrue 07534390 2022-03-01 2023-02-28 07534390 2021-03-01 2022-02-28 07534390 2023-02-28 07534390 2022-02-28 07534390 c:Director1 2022-03-01 2023-02-28 07534390 d:PlantMachinery 2022-03-01 2023-02-28 07534390 d:PlantMachinery 2023-02-28 07534390 d:PlantMachinery 2022-02-28 07534390 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07534390 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 07534390 d:MotorVehicles 2022-03-01 2023-02-28 07534390 d:MotorVehicles 2023-02-28 07534390 d:MotorVehicles 2022-02-28 07534390 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07534390 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 07534390 d:FurnitureFittings 2022-03-01 2023-02-28 07534390 d:FurnitureFittings 2023-02-28 07534390 d:FurnitureFittings 2022-02-28 07534390 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07534390 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 07534390 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07534390 d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 07534390 d:CurrentFinancialInstruments 2023-02-28 07534390 d:CurrentFinancialInstruments 2022-02-28 07534390 d:Non-currentFinancialInstruments 2023-02-28 07534390 d:Non-currentFinancialInstruments 2022-02-28 07534390 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07534390 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07534390 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07534390 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 07534390 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 07534390 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 07534390 d:ShareCapital 2023-02-28 07534390 d:ShareCapital 2022-02-28 07534390 d:RetainedEarningsAccumulatedLosses 2023-02-28 07534390 d:RetainedEarningsAccumulatedLosses 2022-02-28 07534390 c:OrdinaryShareClass1 2022-03-01 2023-02-28 07534390 c:OrdinaryShareClass1 2023-02-28 07534390 c:FRS102 2022-03-01 2023-02-28 07534390 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07534390 c:FullAccounts 2022-03-01 2023-02-28 07534390 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07534390 2 2022-03-01 2023-02-28 07534390 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-28 07534390 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07534390














GRAYCON LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

 
GRAYCON LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
GRAYCON LTD
REGISTERED NUMBER:07534390

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,361
14,715

Current assets
  

Debtors: amounts falling due within one year
 5 
48,031
32,682

Cash at bank and in hand
  
2,857
14,262

  
50,888
46,944

  

Creditors: amounts falling due within one year
 6 
(36,463)
(26,100)

Net current assets
  
 
 
14,425
 
 
20,844

Total assets less current liabilities
  
25,786
35,559

Creditors: amounts falling due after more than one year
 7 
(25,550)
(34,966)

  

Net assets
  
236
593


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
136
493

  
236
593


Page 1

 
GRAYCON LTD
REGISTERED NUMBER:07534390
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 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 comprehensive income 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 by: 




G J Cole
Director

Date: 24 November 2023

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

Page 2

 
GRAYCON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Graycon Ltd is a limited liability company incorporated in England and Wales with its registered office at
5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

The principal activity of the company is that of providing motion picture production services.

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 comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.

 
2.3

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.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% 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 the Statement of Comprehensive Income.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Creditors

Short term creditors are measured at the transaction price.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
GRAYCON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Borrowing costs

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

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
GRAYCON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 March 2022
8,086
29,421
7,447
44,954


Additions
-
-
371
371



At 28 February 2023

8,086
29,421
7,818
45,325



Depreciation


At 1 March 2022
7,691
17,008
5,538
30,237


Charge for the year on owned assets
99
-
525
624


Charge for the year on financed assets
-
3,103
-
3,103



At 28 February 2023

7,790
20,111
6,063
33,964



Net book value



At 28 February 2023
296
9,310
1,755
11,361



At 28 February 2022
394
12,412
1,909
14,715

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
9,050
12,412

Page 5

 
GRAYCON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
2,596
2,845

Other debtors
45,435
29,837

48,031
32,682


Included within other debtors due within one year is a loan to a director, amounting to £44,774 (2022- £29,453).


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,000
6,000

Trade creditors
221
410

Taxation and social security
23,743
13,665

Obligations under finance lease and hire purchase contracts
3,416
3,726

Accruals and deferred income
3,083
2,299

36,463
26,100



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,500
22,500

Net obligations under finance leases and hire purchase contracts
9,050
12,466

25,550
34,966


Page 6

 
GRAYCON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,000
6,000


Amounts falling due 2-5 years

Bank loans
16,500
22,500


22,500
28,500



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


 
Page 7