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REGISTERED NUMBER: 11421133 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GRAY'S ELECTRICAL SERVICES LTD

GRAY'S ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11421133)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRAY'S ELECTRICAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: L J Gray





REGISTERED OFFICE: 10 Littlebourne Road
Maidstone
Kent
ME14 5QP





REGISTERED NUMBER: 11421133 (England and Wales)





ACCOUNTANTS: SHPD Accountants
10 Littlebourne Road
Maidstone
Kent
ME14 5QP

GRAY'S ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11421133)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 178,663 38,628

CURRENT ASSETS
Debtors 5 133,730 278,006
Cash at bank 507,579 413,744
641,309 691,750
CREDITORS
Amounts falling due within one year 6 298,554 316,569
NET CURRENT ASSETS 342,755 375,181
TOTAL ASSETS LESS CURRENT LIABILITIES 521,418 413,809

CREDITORS
Amounts falling due after more than one year 7 (75,691 ) -

PROVISIONS FOR LIABILITIES (44,666 ) (9,099 )
NET ASSETS 401,061 404,710

CAPITAL AND RESERVES
Called up share capital 80 100
Retained earnings 400,981 404,610
401,061 404,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 31 July 2024 and were signed by:





L J Gray - Director


GRAY'S ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11421133)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gray's Electrical Services Ltd 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

GRAY'S ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11421133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 2,665 135,914 138,579
Additions - 197,145 197,145
Disposals (2,665 ) (14,694 ) (17,359 )
At 30 June 2024 - 318,365 318,365
DEPRECIATION
At 1 July 2023 433 99,518 99,951
Charge for year 133 54,878 55,011
Eliminated on disposal (566 ) (14,694 ) (15,260 )
At 30 June 2024 - 139,702 139,702
NET BOOK VALUE
At 30 June 2024 - 178,663 178,663
At 30 June 2023 2,232 36,396 38,628

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 134,626
At 30 June 2024 134,626
DEPRECIATION
Charge for year 22,192
At 30 June 2024 22,192
NET BOOK VALUE
At 30 June 2024 112,434

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 99,898 257,717
Other debtors 33,832 20,289
133,730 278,006

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,500 12,251
Taxation and social security 148,854 155,540
Other creditors 128,200 148,778
298,554 316,569

GRAY'S ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11421133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 75,691 -

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £79,088 (2023 - £74,569) were paid to the directors .

As at the balance sheet date, a balance of £100,000 (2023 - £100,000) was owed to the director Mr L Gray. This balance is repayable on demand.