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REGISTERED NUMBER: 01366921 (England and Wales)










GRAYSIDE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRAYSIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr P J Hancock
Mr M D Seddon
Mr A D Beams



SECRETARY: Mr P J Hancock



REGISTERED OFFICE: 1st Floor
55 High Street
Epsom
Surrey
KT19 8DH



REGISTERED NUMBER: 01366921 (England and Wales)



ACCOUNTANTS: Hakim Fry
Chartered Accountants
69-71 East Street
Epsom
Surrey
KT17 1BP



BANKERS: NatWest Bank plc
115 High Street
Epsom
Surrey
KT19 8DX

GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,961 20,490
11,961 20,490

CURRENT ASSETS
Debtors 6 50,873 48,790
Cash at bank and in hand 512,580 467,048
563,453 515,838
CREDITORS
Amounts falling due within one year 7 153,462 210,093
NET CURRENT ASSETS 409,991 305,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,952

326,235

PROVISIONS FOR LIABILITIES 2,751 2,415
NET ASSETS 419,201 323,820

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 404,201 308,820
SHAREHOLDERS' FUNDS 419,201 323,820

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





Mr P J Hancock - Director


GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Grayside Limited 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. ACCOUNTING POLICIES

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

Turnover and expenses recognition
Turnover represents the total brokerage commissions received on insurance policies accepted. General brokerage commission is taken to the profit and loss account when the risk is accepted and premium confirmed by the insurers, once paid by the customer or the commission has been received directly from the insurer. Protection, investment and mortgage contracts' fees and commissions are taken to the profit and loss account when they are received from the insurer, net of any clawback charges. No provision is made for income received from the insurer which is not earned in the period.

It is impracticable to devise accounting policies which consistently match revenue from brokerage with the related expenses.

Expenses are written off as incurred.

Goodwill
Goodwill relating to clients acquisition is fully amortised in year of purchase.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over lease term
Furniture and equipment - 30% on reducing balance and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributed to certain directors' and individuals' personal pension schemes in the year. The pension cost charge represents contributions payable in the year, the company having no further liability in this regard.

Insurance transactions
Insurance debtors and creditors include amounts due from or to each party with whom the company dealt with in the normal course of business.

Investments
Quoted investments are included at valuation based on the mid-market price quoted on the relevant stock exchange as at the balance sheet date. Unquoted investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 678,146
AMORTISATION
At 1 January 2023
and 31 December 2023 678,146
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 4,404 221,814 226,218
DEPRECIATION
At 1 January 2023 4,404 201,324 205,728
Charge for year - 8,529 8,529
At 31 December 2023 4,404 209,853 214,257
NET BOOK VALUE
At 31 December 2023 - 11,961 11,961
At 31 December 2022 - 20,490 20,490

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 2,198 3,440
Other debtors - insurance broking cash and
debtors

-

972
Prepayments and accrued income 48,675 44,378
50,873 48,790

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,458 1,922
Tax 54,456 86,640
Social security and other taxes 22,225 55,051
Other creditors 3,864 43,818
Other creditors - insurance broking creditors - 972
Accrued expenses 71,459 21,690
153,462 210,093

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 66,218 71,536
Between one and five years - 66,218
66,218 137,754

GRAYSIDE LIMITED (REGISTERED NUMBER: 01366921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. RELATED PARTY DISCLOSURES

The company is controlled by the board of directors.