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Registered number: 01288163
Grayson Enterprises Limited
Financial Statements
For the Period 1 September 2022 to 30 September 2023
Fruition Advisory LLP
29 Wood Street
Stratford-upon-Avon
Warwickshire
CV37 6JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01288163
30 September 2023 31 August 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 807,031 805,931
807,031 805,931
CURRENT ASSETS
Stocks 5 750 700
Debtors 6 746,841 694,415
Cash at bank and in hand 7,656 23,820
755,247 718,935
Creditors: Amounts Falling Due Within One Year 7 (122,747 ) (191,420 )
NET CURRENT ASSETS (LIABILITIES) 632,500 527,515
TOTAL ASSETS LESS CURRENT LIABILITIES 1,439,531 1,333,446
Creditors: Amounts Falling Due After More Than One Year 8 (684,194 ) (698,311 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (98,699 ) (73,675 )
NET ASSETS 656,638 561,460
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 656,538 561,360
SHAREHOLDERS' FUNDS 656,638 561,460
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For the period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Ashok Bansal
Director
12th September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Grayson Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01288163 . The registered office is Llysgwyn Residential Home Heol Broom, Maudlam, Bridgend, CF33 4PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Fixtures & Fittings 10% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 32 (2022: 30)
32 30
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2022 800,000 144,515 944,515
Additions - 1,803 1,803
As at 30 September 2023 800,000 146,318 946,318
Depreciation
As at 1 September 2022 - 138,584 138,584
Provided during the period - 703 703
As at 30 September 2023 - 139,287 139,287
Net Book Value
As at 30 September 2023 800,000 7,031 807,031
As at 1 September 2022 800,000 5,931 805,931
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5. Stocks
30 September 2023 31 August 2022
£ £
Stock 750 700
6. Debtors
30 September 2023 31 August 2022
£ £
Due within one year
Trade debtors 22,380 170,492
Other debtors 724,461 300,991
746,841 471,483
Due after more than one year
Amounts owed by group undertakings - 222,932
746,841 694,415
7. Creditors: Amounts Falling Due Within One Year
30 September 2023 31 August 2022
£ £
Trade creditors 3,008 45,223
Bank loans and overdrafts 29,028 36,122
Other creditors 53,978 42,645
Taxation and social security 36,733 67,430
122,747 191,420
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2023 31 August 2022
£ £
Bank loans 684,194 698,311
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9. Share Capital
30 September 2023 31 August 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At the balance sheet date the company was owed £706,653 (2022 £222,932) by companies under common control. 
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