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GREYAREA SOLUTIONS LTD




Company Registration Number:
03342930 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st May 2009

End date: 30th April 2010

SUBMITTED

GREYAREA SOLUTIONS LTD

Company Information
for the Period Ended
30th April 2010




Director: Michael Maratos
Jennifer Maratos
Company secretary: Jennifer Maratos
Registered office: 2 Heyes Leigh, Heyes Drive
Timperley, Altrincham
Cheshire
WA15 6EY
Company Registration Number: 03342930 (England and Wales)

GREYAREA SOLUTIONS LTD

Abbreviated Balance sheet
As at 30th April 2010

Notes 2010
£
2009
£
Fixed assets
Tangible assets: 5 507 440
Total fixed assets: 507 440
Current assets
Debtors: 6 8,662 11,037
Cash at bank and in hand: 115,791 115,708
Total current assets: 124,453 126,745
Creditors
Creditors: amounts falling due within one year 7 972 3,202
Net current assets (liabilities): 123,481 123,543
Total assets less current liabilities: 123,988 123,983
Total net assets (liabilities): 123,988 123,983

The notes form part of these financial statements

GREYAREA SOLUTIONS LTD

Abbreviated Balance sheet
As at 30th April 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 8 100 100
Profit and Loss account: 123,888 123,883
Total shareholders funds: 123,988 123,983

For the year ending 30 April 2010 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 11 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: Michael Maratos
Status: Director

The notes form part of these financial statements

GREYAREA SOLUTIONS LTD

Notes to the Abbreviated Accounts
for the Period Ended
30th April 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the year, exclusive of value added tax

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected lives on a reducing balance basis at the following annual rate: Plant and machinery 25% Tools and equipment 25% Fixtures and Fittings 10% Motor vehicles 25% Any impairment in value is charged to the profit and loss account

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed 20 years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Other accounting policies

    Deferred Taxation Provision is made for taxation deferred on the incremental liability approach in respect of all timing differences between the incidence of income and expenditure for taxation and accounts purposes that have originated but not reversed at the balance sheet date. Provision is made for future taxation on gains on revalued assets only where a binding commitment to dispose of the asset exists at the year end.

  • 5. Tangible assets

    Total
    Cost £
    At 01st May 2009: 3,073
    Additions: 236
    At 30th April 2010: 3,309
    Depreciation
    At 01st May 2009: 2,633
    Charge for year: 169
    At 30th April 2010: 2,802
    Net book value
    At 30th April 2010: 507
    At 30th April 2009: 440

  • 6. Debtors

    2010
    £
    2009
    £
    Trade debtors: - 2,375
    Other debtors: 8,662 8,662
    Total: 8,662 11,037

    Other debtors due within one year include: A loan of £4,331,13 (2009 £4,331.13) to Michael Maratos, a director The maximum outstanding during the year was £4,331.13 A loan of £4,331,13 (2009 £4,331.13) to Jennifer Maratos, a director The maximum outstanding during the year was £4,331.13

  • 7. Creditors: amounts falling due within one year

    2010
    £
    2009
    £
    Taxation and social security: 972 3,202
    Total: 972 3,202

  • 8. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1 100
    Total share capital: 100
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1 100
    Total share capital: 100
  • 10. Related party disclosures

    Name of the ultimate controlling party during the period: Michael Maratos
    Name of related party: Michael Maratos
    Relationship: Controlling party
    Description of the transaction: Loan to Director
    Balance at 01st May 2009 4,331
    Balance at 30th April 2010 4,331
    Name of related party: Jennifer Maratos
    Relationship: Spouse of controlling party
    Description of the transaction: Loan to Director
    Balance at 01st May 2009 4,331
    Balance at 30th April 2010 4,331

    Maximum amount outstanding during the year : Michael Maratos £4,331 Jennifer Maratos £4,331