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HOUSE OF GREY LIMITED

Registered Number
08566227
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

HOUSE OF GREY LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

GREY, Louisa

Registered Address

Studio 4 224 Shoreditch High Street
London
E1 6PJ

Registered Number

08566227 (England and Wales)
HOUSE OF GREY LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets342,79055,113
42,79055,113
Current assets
Stocks426,62427,124
Debtors1,71936,218
Cash at bank and on hand201,451355,867
229,794419,209
Creditors amounts falling due within one year5(80,339)(241,329)
Net current assets (liabilities)149,455177,880
Total assets less current liabilities192,245232,993
Net assets192,245232,993
Capital and reserves
Called up share capital100100
Profit and loss account192,145232,893
Shareholders' funds192,245232,993
The financial statements were approved and authorised for issue by the Director on 23 August 2024, and are signed on its behalf by:
GREY, Louisa
Director
Registered Company No. 08566227
HOUSE OF GREY LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year46
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 2312,95946,09011,00970,058
Additions4,581--4,581
At 30 June 2417,54046,09011,00974,639
Depreciation and impairment
At 01 July 235,085-9,86014,945
Charge for year1,78014,86426016,904
At 30 June 246,86514,86410,12031,849
Net book value
At 30 June 2410,67531,22688942,790
At 30 June 237,87446,0901,14955,113
4.Stocks

2024

2023

££
Other stocks26,62427,124
Total26,62427,124
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,15979,022
Taxation and social security16,42865,285
Finance lease and HP contracts18,05724,623
Other creditors19,3389,650
Accrued liabilities and deferred income14,35762,749
Total80,339241,329