2022-12-012023-11-302023-11-30false11696029GREYHOUND GRIPS 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GREYHOUND GRIPS LTD

Registered Number
11696029
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

GREYHOUND GRIPS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

GRAHAM, Thomas Bruce

Registered Address

42 Essex Gardens
Gateshead
NE9 5BB

Registered Number

11696029 (England and Wales)
GREYHOUND GRIPS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets315,04720,062
15,04720,062
Current assets
Debtors1,084-
Cash at bank and on hand93615,994
2,02015,994
Creditors amounts falling due within one year4(14,155)(20,222)
Net current assets (liabilities)(12,135)(4,228)
Total assets less current liabilities2,91215,834
Provisions for liabilities5(2,859)(3,812)
Net assets5312,022
Capital and reserves
Called up share capital11
Profit and loss account5212,021
Shareholders' funds5312,022
The financial statements were approved and authorised for issue by the Director on 29 August 2024, and are signed on its behalf by:
GRAHAM, Thomas Bruce
Director
Registered Company No. 11696029
GREYHOUND GRIPS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 December 2234,6962,62937,325
At 30 November 2334,6962,62937,325
Depreciation and impairment
At 01 December 2215,6331,63017,263
Charge for year4,7652505,015
At 30 November 2320,3981,88022,278
Net book value
At 30 November 2314,29874915,047
At 30 November 2219,06399920,062
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,758-
Taxation and social security10,8977,126
Other creditors-11,596
Accrued liabilities and deferred income1,5001,500
Total14,15520,222
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,8593,812
Total2,8593,812