Acorah Software Products - Accounts Production 15.0.400 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 02621069 Ms Abigail Grey Ms Melanie Owen Ms Mollie Grey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02621069 2022-12-31 02621069 2023-12-31 02621069 2023-01-01 2023-12-31 02621069 frs-core:CurrentFinancialInstruments 2023-12-31 02621069 frs-core:NetGoodwill 2023-12-31 02621069 frs-core:NetGoodwill 2023-01-01 2023-12-31 02621069 frs-core:NetGoodwill 2022-12-31 02621069 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 02621069 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02621069 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 02621069 frs-core:PlantMachinery 2023-12-31 02621069 frs-core:PlantMachinery 2023-01-01 2023-12-31 02621069 frs-core:PlantMachinery 2022-12-31 02621069 frs-core:ShareCapital 2023-12-31 02621069 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02621069 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02621069 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 02621069 frs-bus:SmallEntities 2023-01-01 2023-12-31 02621069 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02621069 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02621069 frs-bus:Director1 2023-01-01 2023-12-31 02621069 frs-bus:Director1 2022-12-31 02621069 frs-bus:Director1 2023-12-31 02621069 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 02621069 frs-bus:CompanySecretary2 2023-01-01 2023-12-31 02621069 frs-countries:EnglandWales 2023-01-01 2023-12-31 02621069 2021-12-31 02621069 2022-12-31 02621069 2022-01-01 2022-12-31 02621069 frs-core:CurrentFinancialInstruments 2022-12-31 02621069 frs-core:ShareCapital 2022-12-31 02621069 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 02621069
Grey & Company (Wembley) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02621069
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,310 17,893
Tangible Assets 5 39,747 44,339
53,057 62,232
CURRENT ASSETS
Debtors 6 144,200 117,247
Investments 7 - 1,136
Cash at bank and in hand 130,706 67,148
274,906 185,531
Creditors: Amounts Falling Due Within One Year 8 (97,939 ) (63,918 )
NET CURRENT ASSETS (LIABILITIES) 176,967 121,613
TOTAL ASSETS LESS CURRENT LIABILITIES 230,024 183,845
NET ASSETS 230,024 183,845
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 230,020 183,841
SHAREHOLDERS' FUNDS 230,024 183,845
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Abigail Grey
Director
20/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Grey & Company (Wembley) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02621069 . The registered office is 604 High Road, Wembley, Middx, HA0 2AF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold straight line over the lease term
Plant & Machinery 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 14)
11 14
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 22,914
As at 31 December 2023 22,914
Amortisation
As at 1 January 2023 5,021
Provided during the period 4,583
As at 31 December 2023 9,604
Net Book Value
As at 31 December 2023 13,310
As at 1 January 2023 17,893
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2023 34,680 50,071 84,751
Additions 5,227 1,254 6,481
As at 31 December 2023 39,907 51,325 91,232
Depreciation
As at 1 January 2023 4,328 36,084 40,412
Provided during the period 4,674 6,399 11,073
As at 31 December 2023 9,002 42,483 51,485
Net Book Value
As at 31 December 2023 30,905 8,842 39,747
As at 1 January 2023 30,352 13,987 44,339
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,996 12,433
Prepayments and accrued income 31,483 29,428
Other debtors 92,202 75,386
Director's loan account 8,519 -
144,200 117,247
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7. Current Asset Investments
2023 2022
£ £
Listed investments - 1,136
- 1,136
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 26,678 13,088
Bank loans and overdrafts 5,076 -
Corporation tax 23,845 5,057
Other taxes and social security 7,862 5,968
VAT 25,888 23,436
Accruals and deferred income 8,590 13,423
Director's loan account - 2,946
97,939 63,918
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to officers:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Ms Abigail Grey - 8,519 - - 8,519
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
An interest free, unsecured loan of £40,386 was due Freepy Ltd at the year end (2022: £40,386). Director Abigail Grey holds a significant interest in Freepy Ltd.
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