1 March 2023 false No description of principal activity Taxfiler 2023.10 11195585business:PrivateLimitedCompanyLtd2023-03-012024-02-29 111955852023-02-28 111955852023-03-012024-02-29 11195585business:AuditExempt-NoAccountantsReport2023-03-012024-02-29 11195585business:FilletedAccounts2023-03-012024-02-29 111955852024-02-29 11195585business:Director12023-03-012024-02-29 11195585business:RegisteredOffice2023-03-012024-02-29 111955852023-02-28 11195585core:WithinOneYear2024-02-29 11195585core:WithinOneYear2023-02-28 11195585core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 11195585core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 11195585core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 11195585core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 11195585core:PreviouslyStatedAmount2024-02-29 11195585core:PreviouslyStatedAmount2023-02-28 11195585business:SmallEntities2023-03-012024-02-29 11195585countries:EnglandWales2023-03-012024-02-29 11195585core:MotorVehicles2023-03-012024-02-29 11195585core:MotorVehicles2023-02-28 11195585core:MotorVehicles2024-02-29 111955852022-03-012023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 11195585 (England and Wales)
Gracefield Resources Limited Unaudited accounts for the year ended 29 February 2024
Gracefield Resources Limited Unaudited accounts Contents
Page
- 2 -
Gracefield Resources Limited Company Information for the year ended 29 February 2024
Director
Okiemute EDETANLEN-ELLIOT
Company Number
11195585 (England and Wales)
Registered Office
Pilgrim Manor Chapmans Lane Orpington BR5 3JA England
- 3 -
Gracefield Resources Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
51,300 
- 
Current assets
Cash at bank and in hand
932 
- 
Creditors: amounts falling due within one year
(52,217)
- 
Net current liabilities
(51,285)
- 
Net assets
15 
- 
Capital and reserves
Called up share capital
1 
- 
Profit and loss account
14 
- 
Shareholders' funds
15 
- 
For the year ending 29 February 2024 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.
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 3 March 2024 and were signed on its behalf by
Okiemute EDETANLEN-ELLIOT Director Company Registration No. 11195585
- 4 -
Gracefield Resources Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Gracefield Resources Limited is a private company, limited by shares, registered in England and Wales, registration number 11195585. The registered office is Pilgrim Manor, Chapmans Lane, Orpington, BR5 3JA, England.
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
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: MV 10%
Motor vehicles
57000
The principal accounting policies adopted in the preparation of the financial statements are set out below and 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.
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2023
- 
Additions
57,000 
At 29 February 2024
57,000 
Depreciation
Charge for the year
5,700 
At 29 February 2024
5,700 
Net book value
At 29 February 2024
51,300 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
250 
- 
Loans from directors
51,967 
- 
52,217 
- 
- 5 -
Gracefield Resources Limited Notes to the Accounts for the year ended 29 February 2024
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 6 -