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REGISTERED NUMBER: 06248967 (England and Wales)















Financial Statements

for the Year Ended 31 May 2023

for

Greatstone International Ltd

Greatstone International Ltd (Registered number: 06248967)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Greatstone International Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: B Mensah





REGISTERED OFFICE: Parley Brook Farm
Littlewick Road
Woking
Surrey
GU21 4XR





REGISTERED NUMBER: 06248967 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Greatstone International Ltd (Registered number: 06248967)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 1,030 2,060

CURRENT ASSETS
Debtors 6 151,833 201,872
Cash at bank 24,781 20,956
176,614 222,828
CREDITORS
Amounts falling due within one year 7 (73,350 ) (85,562 )
NET CURRENT ASSETS 103,264 137,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,294

139,326

CREDITORS
Amounts falling due after more than one
year

8

(40,000

)

(60,000

)
NET ASSETS 64,294 79,326

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 64,290 79,322
SHAREHOLDERS' FUNDS 64,294 79,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Greatstone International Ltd (Registered number: 06248967)

Statement of Financial Position - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





B Mensah - Director


Greatstone International Ltd (Registered number: 06248967)

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

1. STATUTORY INFORMATION

Greatstone International 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Greatstone International Ltd (Registered number: 06248967)

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

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
Cost
At 1 June 2022
and 31 May 2023 7,985
Depreciation
At 1 June 2022 5,925
Charge for year 1,030
At 31 May 2023 6,955
Net book value
At 31 May 2023 1,030
At 31 May 2022 2,060

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 26,890 51,547
Other debtors 124,943 150,325
151,833 201,872

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 38,865 35,853
Taxation and social security 11,790 18,919
Other creditors 2,695 10,790
73,350 85,562

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans 40,000 60,000

Greatstone International Ltd (Registered number: 06248967)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31/5/23 31/5/22
£    £   
B Mensah
Balance outstanding at start of year 45,475 114,512
Amounts advanced 24,053 -
Amounts repaid (24,053 ) (69,037 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,475 45,475

Interest has been charged on the loan at the official HMRC rates.