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REGISTERED NUMBER: 09304061 (England and Wales)












GHYSTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GHYSTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R T Hill
E R Hill
D G Phipps





REGISTERED OFFICE: 5th Floor (West)
Programme
All Saints Street
Bristol
BS1 2LZ





REGISTERED NUMBER: 09304061 (England and Wales)

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 55,510 85,029
Investments 5 9,998 9,998
65,508 95,027

CURRENT ASSETS
Debtors 6 643,721 938,493
Cash at bank and in hand 1,773,012 1,780,058
2,416,733 2,718,551
CREDITORS
Amounts falling due within one year 7 (646,617 ) (964,831 )
NET CURRENT ASSETS 1,770,116 1,753,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,835,624

1,848,747

PROVISIONS FOR LIABILITIES (87,177 ) (46,348 )
NET ASSETS 1,748,447 1,802,399

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,748,147 1,802,099
SHAREHOLDERS' FUNDS 1,748,447 1,802,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





R T Hill - Director


GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Ghyston Limited 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Revenue from contracts for the provision of software development and consultancy is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual daily staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:

Short leasehold- 33% Straight line
Fixtures and fittings- 25% Straight line
Motor Vehicles- 25% Straight line
Computer equipment- 33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Equity settled share-based payment transactions
The company operates an equity-settled EMI share option scheme. The fair value of share entitlements granted is recognised as staff costs in the profit and loss account with a corresponding increase in equity. Share options granted under the scheme are subject to non-market vesting conditions, which are not taken into account when estimating the fair value of entitlements as at the grant date. The expense is based on the fair value of the total number of entitlements expected to vest and is allocated to accounting periods on a straight line basis over the vesting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
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.

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 48 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 31,958 35,202 40,490 153,825 261,475
Additions - - - 15,861 15,861
Disposals - - - (2,052 ) (2,052 )
At 31 December 2023 31,958 35,202 40,490 167,634 275,284
DEPRECIATION
At 1 January 2023 15,823 26,542 21,932 112,149 176,446
Charge for year 7,524 2,729 10,123 25,004 45,380
Eliminated on disposal - - - (2,052 ) (2,052 )
At 31 December 2023 23,347 29,271 32,055 135,101 219,774
NET BOOK VALUE
At 31 December 2023 8,611 5,931 8,435 32,533 55,510
At 31 December 2022 16,135 8,660 18,558 41,676 85,029

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 January 2023 63,998
Disposals (54,000 )
At 31 December 2023 9,998
PROVISIONS
At 1 January 2023 54,000

Eliminated on disposal (54,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 9,998
At 31 December 2022 9,998

6. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 194,931 359,425
Amounts recoverable on contracts 248,033 388,037
Other debtors 4,370 2,209
Directors' current accounts - 20,000
Prepayments 149,245 121,680
596,579 891,351

Amounts falling due after more than one year:
Other debtors 47,142 47,142

Aggregate amounts 643,721 938,493

GHYSTON LIMITED (REGISTERED NUMBER: 09304061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 69,493 52,661
Tax 40,784 203,479
Social security and other taxes 146,265 128,841
VAT 160,114 225,673
Other creditors 9,383 40,476
Accruals and deferred income 220,578 313,701
646,617 964,831

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had future commitments under operating leases totalling £52,666 (2022: £181,142).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, £Nil (2022: £10,000) was advanced to E Hill by the company. In the year £10,000 (2022: £nil) was repaid by the director. At the balance sheet date the director owed the company £Nil (2022: £10,000).

During the year, £Nil (2022: £10,000) was advanced to R Hill by the company. In the year £10,000 (2022: £nil) was repaid by the director. At the balance sheet date the director owed the company £Nil (2022: £10,000).