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REGISTERED NUMBER: 06706399 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Gray Knight Limited
Trading as
Fields

Gray Knight Limited (Registered number: 06706399)
Trading as Fields






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


Gray Knight Limited
Trading as Fields

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs G M Gray Knight





SECRETARY: M J Knight





REGISTERED OFFICE: Scrubbs Farm
Bishops Sutton
Alresford
Hampshire
SO24 0HR





REGISTERED NUMBER: 06706399 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,075 1,433
1,075 1,433

CURRENT ASSETS
Stocks 10,656 9,196
Debtors 6 2,464 2,963
Cash at bank and in hand 2,054 3,093
15,174 15,252
CREDITORS
Amounts falling due within one year 7 66,304 68,055
NET CURRENT LIABILITIES (51,130 ) (52,803 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,055

)

(51,370

)

CREDITORS
Amounts falling due after more than one
year

8

(400

)

(534

)

PROVISIONS FOR LIABILITIES 9 (204 ) (272 )
NET LIABILITIES (50,659 ) (52,176 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (50,660 ) (52,177 )
SHAREHOLDERS' FUNDS (50,659 ) (52,176 )

Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Balance Sheet - continued
31 December 2023


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 director acknowledges her 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





Mrs G M Gray Knight - Director


Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1 (51,818 ) (51,817 )

Changes in equity
Deficit for the year - (359 ) (359 )
Total comprehensive income - (359 ) (359 )
Balance at 31 December 2022 1 (52,177 ) (52,176 )

Changes in equity
Profit for the year - 1,517 1,517
Total comprehensive income - 1,517 1,517
Balance at 31 December 2023 1 (50,660 ) (50,659 )

Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gray Knight 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements have therefore been prepared on a going concern basis. The director has confirmed that she will continue to support the company and will not recall her loan if it would render the company unable to pay its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been fully amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance basis
Computer equipment - 25% reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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


Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Capital grants
Capital Grants have been treated in accordance with financial reporting standards:

- the fixed asset is initially recorded at its full cost, ignoring the receipt of the grant, and depreciated over its useful economic life, and

- the grant is recorded as deferred income and taken to income over the same period, and on the same basis, as the cost of the asset is depreciated.

3. EMPLOYEES

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 59,000
AMORTISATION
At 1 January 2023
and 31 December 2023 59,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 22,297 4,315 26,612
DEPRECIATION
At 1 January 2023 21,617 3,562 25,179
Charge for year 170 188 358
At 31 December 2023 21,787 3,750 25,537
NET BOOK VALUE
At 31 December 2023 510 565 1,075
At 31 December 2022 680 753 1,433

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,464 2,693
Prepayments - 270
2,464 2,963

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,638 3,223
Corporation tax 424 7
VAT 329 389
Other creditors 3,516 2,695
Director's current account 57,263 60,563
Capital grant 134 178
Accrued expenses 1,000 1,000
66,304 68,055

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Capital grant 400 534

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 204 272

Gray Knight Limited (Registered number: 06706399)
Trading as Fields

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 272
Accelerated capital allowances (68 )
Balance at 31 December 2023 204

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

11. RELATED PARTY DISCLOSURES

Mrs G M Gray Knight
Director

2023 2022
£ £
Amount due to related party at balance sheet date 57,263 60,563