Silverfin false false 31/03/2024 01/04/2023 31/03/2024 R J Andrade 24/01/2007 R J Underhill 24/01/2007 S I Underhill 23/03/1999 Robert John Underhill 26 August 2024 The principal activity of the Company during the financial year was that of a dormant company. 03538988 2024-03-31 03538988 bus:Director1 2024-03-31 03538988 bus:Director2 2024-03-31 03538988 bus:Director3 2024-03-31 03538988 core:CurrentFinancialInstruments 2024-03-31 03538988 core:CurrentFinancialInstruments 2023-03-31 03538988 2023-03-31 03538988 core:ShareCapital 2024-03-31 03538988 core:ShareCapital 2023-03-31 03538988 core:SharePremium 2024-03-31 03538988 core:SharePremium 2023-03-31 03538988 core:RetainedEarningsAccumulatedLosses 2024-03-31 03538988 core:RetainedEarningsAccumulatedLosses 2023-03-31 03538988 bus:OrdinaryShareClass1 2024-03-31 03538988 2023-04-01 2024-03-31 03538988 bus:FilletedAccounts 2023-04-01 2024-03-31 03538988 bus:SmallEntities 2023-04-01 2024-03-31 03538988 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03538988 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03538988 bus:Director1 2023-04-01 2024-03-31 03538988 bus:Director2 2023-04-01 2024-03-31 03538988 bus:Director3 2023-04-01 2024-03-31 03538988 bus:Director4 2023-04-01 2024-03-31 03538988 2022-04-01 2023-03-31 03538988 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03538988 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03538988 (England and Wales)

DE GREY'S LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DE GREY'S LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DE GREY'S LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
DE GREY'S LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Debtors 3 535,000 535,000
Cash at bank and in hand 29,065 30,607
564,065 565,607
Creditors: amounts falling due within one year 4 ( 151,793) ( 151,793)
Net current assets 412,272 413,814
Total assets less current liabilities 412,272 413,814
Net assets 412,272 413,814
Capital and reserves
Called-up share capital 5 468,000 468,000
Share premium account 52,000 52,000
Profit and loss account ( 107,728 ) ( 106,186 )
Total shareholders' funds 412,272 413,814

For the financial 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 financial statements of De Grey's Limited (registered number: 03538988) were approved and authorised for issue by the Board of Directors on 26 August 2024. They were signed on its behalf by:

Robert John Underhill
Director
DE GREY'S LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DE GREY'S LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

De Grey's Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Rectory, 38 Broad Street, Ludlow, SY8 1NL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Debtors

2024 2023
£ £
Amounts owed by connected companies 535,000 535,000

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 150,350 150,350
Accruals 924 924
Other creditors 519 519
151,793 151,793

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
520,000 Ordinary shares of £ 0.90 each 468,000 468,000

6. Related party transactions

Transactions with the entity's directors

Included within creditors are amounts owed to the director of £150,350 (2023: £150,350). This is an interest free loan, with no fixed repayment date.