1 August 2022 false No description of principal activity Taxfiler 2023.10.2 SC244384business:PrivateLimitedCompanyLtd2022-08-012023-07-31 SC2443842022-07-31 SC2443842022-08-012023-07-31 SC244384business:AuditExemptWithAccountantsReport2022-08-012023-07-31 SC244384business:AbridgedAccounts2022-08-012023-07-31 SC2443842023-07-31 SC244384business:Director12022-08-012023-07-31 SC244384business:RegisteredOffice2022-08-012023-07-31 SC2443842022-07-31 SC244384core:WithinOneYear2023-07-31 SC244384core:WithinOneYear2022-07-31 SC244384core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 SC244384core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 SC244384core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 SC244384core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 SC244384core:PreviouslyStatedAmount2023-07-31 SC244384core:PreviouslyStatedAmount2022-07-31 SC244384business:SmallEntities2022-08-012023-07-31 SC244384countries:Scotland2022-08-012023-07-31 SC244384core:FurnitureFittings2022-08-012023-07-31 SC2443842021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. SC244384 (Scotland)
Gray Caledonian Limited Unaudited accounts for the year ended 31 July 2023
Gray Caledonian Limited Unaudited accounts Contents
Page
- 2 -
Gray Caledonian Limited Company Information for the year ended 31 July 2023
Director
Jonathan Milne
Company Number
SC244384 (Scotland)
Registered Office
Sanais House Croy Inverness IV2 5PN
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
- 3 -
Gray Caledonian Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
349 
850 
Investment property
780,000 
735,000 
780,349 
735,850 
Current assets
Debtors
207 
335 
Cash at bank and in hand
169,359 
292,564 
169,566 
292,899 
Creditors: amounts falling due within one year
(561,920)
(659,238)
Net current liabilities
(392,354)
(366,339)
Net assets
387,995 
369,511 
Capital and reserves
Called up share capital
5,000 
5,000 
Profit and loss account
382,995 
364,511 
Shareholders' funds
387,995 
369,511 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Jonathan Milne Director Company Registration No. SC244384
- 4 -
Gray Caledonian Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Gray Caledonian Limited is a private company, limited by shares, registered in Scotland, registration number SC244384. The registered office is Sanais House, Croy, Inverness, IV2 5PN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15 to 25% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
Gray Caledonian Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2022
21,581 
At 31 July 2023
21,581 
Depreciation
At 1 August 2022
20,731 
Charge for the year
501 
At 31 July 2023
21,232 
Net book value
At 31 July 2023
349 
At 31 July 2022
850 
5
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -