2023-04-012024-03-312024-03-31false10438374GRAYLING MORTGAGE SOLUTIONS 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GRAYLING MORTGAGE SOLUTIONS LIMITED

Registered Number
10438374
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

GRAYLING MORTGAGE SOLUTIONS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

SPENCER, Jayne Nicola
SPENCER, Jonathan Andrew

Registered Address

Newland House The Point
Weaver Road
Lincoln
LN6 3QN

Registered Number

10438374 (England and Wales)
GRAYLING MORTGAGE SOLUTIONS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,0992,610
2,0992,610
Current assets
Debtors12,32616,099
Cash at bank and on hand9,89011,894
22,21627,993
Creditors amounts falling due within one year(22,573)(18,698)
Net current assets (liabilities)(357)9,295
Total assets less current liabilities1,74211,905
Provisions for liabilities(319)(431)
Net assets1,42311,474
Capital and reserves
Called up share capital100100
Profit and loss account1,32311,374
Shareholders' funds1,42311,474
The financial statements were approved and authorised for issue by the Board of Directors on 2 September 2024, and are signed on its behalf by:
SPENCER, Jonathan Andrew
Director
Registered Company No. 10438374
GRAYLING MORTGAGE SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable excluding discounts and rebates.
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Office Equipment-3
Finance leases and hire purchase contracts
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 235,488
Additions293
At 31 March 245,781
Depreciation and impairment
At 01 April 232,877
Charge for year805
At 31 March 243,682
Net book value
At 31 March 242,099
At 31 March 232,610
4.Other commitments
Minimum lease payments under non-cancellable operating leases falling due within one year are £1,470 (2023: £1,470).
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
SPENCER, Jonathan Andrew7,66107,6610
7,66107,6610
The directors loan is interest-free and repayable on demand.
6.Related party transactions
During the year dividends were paid to directors of £63,119 (2023: £71,297). Included within creditors at the end of the prior year was a directors loan account balance of £6,566. The loan was unsecured and interest free.