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Company No: 07260366 (England and Wales)

GRESBY LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

GRESBY LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

GRESBY LIMITED

BALANCE SHEET

As at 31 October 2023
GRESBY LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 9,600
Tangible assets 4 33,503 36,898
33,503 46,498
Current assets
Stocks 6,100 5,000
Cash at bank and in hand 89,530 120,223
95,630 125,223
Creditors: amounts falling due within one year 5 ( 74,293) ( 97,521)
Net current assets 21,337 27,702
Total assets less current liabilities 54,840 74,200
Creditors: amounts falling due after more than one year 6 0 ( 15,500)
Provision for liabilities ( 6,365) ( 7,010)
Net assets 48,475 51,690
Capital and reserves
Called-up share capital 7 50 50
Profit and loss account 48,425 51,640
Total shareholders' funds 48,475 51,690

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gresby Limited (registered number: 07260366) were approved and authorised for issue by the Board of Directors on 09 March 2024. They were signed on its behalf by:

Mr R Beedles
Director
Mrs D Caswell
Director
GRESBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
GRESBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gresby Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is The Dining Room, Pavilion Buildings, Rock Road, Rock, Wadebridge, Cornwall, PL27 6JS..

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 November 2022 92,913 92,913
At 31 October 2023 92,913 92,913
Accumulated amortisation
At 01 November 2022 83,313 83,313
Charge for the financial year 9,600 9,600
At 31 October 2023 92,913 92,913
Net book value
At 31 October 2023 0 0
At 31 October 2022 9,600 9,600

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 November 2022 1 79,227 79,228
Additions 0 2,368 2,368
At 31 October 2023 1 81,595 81,596
Accumulated depreciation
At 01 November 2022 0 42,330 42,330
Charge for the financial year 0 5,763 5,763
At 31 October 2023 0 48,093 48,093
Net book value
At 31 October 2023 1 33,502 33,503
At 31 October 2022 1 36,897 36,898

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 6,000
Trade creditors 8,992 5,387
Taxation and social security 23,049 21,493
Other creditors 42,252 64,641
74,293 97,521

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 15,500

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
25 Ordinary A shares of £ 1.00 each 25 25
25 Ordinary B shares of £ 1.00 each 25 25
50 50