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COMPANY REGISTRATION NUMBER: 13954914
Gray & Toynbee (Cambridge) Ltd
Filleted Unaudited Financial Statements
31 March 2024
Gray & Toynbee (Cambridge) Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
63,298
58,506
Current assets
Debtors
6
48,431
24,388
Cash at bank and in hand
14,801
6,466
--------
--------
63,232
30,854
Creditors: amounts falling due within one year
7
192,096
196,930
---------
---------
Net current liabilities
128,864
166,076
---------
---------
Total assets less current liabilities
( 65,566)
( 107,570)
--------
---------
Net liabilities
( 65,566)
( 107,570)
--------
---------
Capital and reserves
Called up share capital
200
200
Profit and loss account
( 65,766)
( 107,770)
--------
---------
Shareholders deficit
( 65,566)
( 107,570)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gray & Toynbee (Cambridge) Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mr C Toynbee
Director
Company registration number: 13954914
Gray & Toynbee (Cambridge) Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ash House, Breckenwood Road, Fulbourn, CB21 5DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
10% straight line
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 4 ).
5. Tangible assets
Short leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
49,893
10,725
6,719
67,337
Additions
10,198
974
4,894
16,066
--------
--------
--------
--------
At 31 March 2024
60,091
11,699
11,613
83,403
--------
--------
--------
--------
Depreciation
At 1 April 2023
4,989
2,458
1,384
8,831
Charge for the year
5,586
2,904
2,784
11,274
--------
--------
--------
--------
At 31 March 2024
10,575
5,362
4,168
20,105
--------
--------
--------
--------
Carrying amount
At 31 March 2024
49,516
6,337
7,445
63,298
--------
--------
--------
--------
At 31 March 2023
44,904
8,267
5,335
58,506
--------
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
22,281
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,782
Other debtors
22,368
24,388
--------
--------
48,431
24,388
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,014
2,794
Amounts owed to group undertakings and undertakings in which the company has a participating interest
149,029
181,917
Social security and other taxes
22,167
9,282
Other creditors
6,886
2,937
---------
---------
192,096
196,930
---------
---------
8. Related party transactions
As at 31st March 2024 and 2024, ninety percent of the company shares are held by Toynbee Gray Holdings Ltd. Toynbee Gray Holdings Ltd is controlled by Mr Toynbee and Mr Gray through their companies Toynbee Investments Ltd and Bridge Farmhouse Investments Ltd. As at 31st March 2024, the company owed £149,029 (2023: £181,917)to Toynbee Gray Holdings Ltd and was owed £3,782 (2023: £nil) by Gray and Toynbee (North) Limited.