2023-03-012024-02-292024-02-29false03918004Graysonside Ltd.2024-09-2455300iso4217:GBPxbrli:pure039180042023-03-01039180042024-02-29039180042023-03-012024-02-29039180042022-03-01039180042023-02-28039180042022-03-012023-02-2803918004bus:SmallEntities2023-03-012024-02-2903918004bus:AuditExempt-NoAccountantsReport2023-03-012024-02-2903918004bus:FullAccounts2023-03-012024-02-2903918004bus:PrivateLimitedCompanyLtd2023-03-012024-02-2903918004core:WithinOneYear2024-02-2903918004core:AfterOneYear2024-02-2903918004core:WithinOneYear2023-02-2803918004core:AfterOneYear2023-02-2803918004core:ShareCapital2024-02-2903918004core:SharePremium2024-02-2903918004core:RevaluationReserve2024-02-2903918004core:OtherReservesSubtotal2024-02-2903918004core:RetainedEarningsAccumulatedLosses2024-02-2903918004core:ShareCapital2023-02-2803918004core:SharePremium2023-02-2803918004core:RevaluationReserve2023-02-2803918004core:OtherReservesSubtotal2023-02-2803918004core:RetainedEarningsAccumulatedLosses2023-02-2803918004core:LandBuildings2024-02-2903918004core:PlantMachinery2024-02-2903918004core:Vehicles2024-02-2903918004core:FurnitureFittings2024-02-2903918004core:OfficeEquipment2024-02-2903918004core:NetGoodwill2024-02-2903918004core:IntangibleAssetsOtherThanGoodwill2024-02-2903918004core:ListedExchangeTraded2024-02-2903918004core:UnlistedNon-exchangeTraded2024-02-2903918004core:LandBuildings2023-02-2803918004core:PlantMachinery2023-02-2803918004core:Vehicles2023-02-2803918004core:FurnitureFittings2023-02-2803918004core:OfficeEquipment2023-02-2803918004core:NetGoodwill2023-02-2803918004core:IntangibleAssetsOtherThanGoodwill2023-02-2803918004core:ListedExchangeTraded2023-02-2803918004core:UnlistedNon-exchangeTraded2023-02-2803918004core:LandBuildings2023-03-012024-02-2903918004core:PlantMachinery2023-03-012024-02-2903918004core:Vehicles2023-03-012024-02-2903918004core:FurnitureFittings2023-03-012024-02-2903918004core:OfficeEquipment2023-03-012024-02-2903918004core:NetGoodwill2023-03-012024-02-2903918004core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2903918004core:ListedExchangeTraded2023-03-012024-02-2903918004core:UnlistedNon-exchangeTraded2023-03-012024-02-2903918004core:MoreThanFiveYears2023-03-012024-02-2903918004core:Non-currentFinancialInstruments2024-02-2903918004core:Non-currentFinancialInstruments2023-02-2803918004dpl:CostSales2023-03-012024-02-2903918004dpl:DistributionCosts2023-03-012024-02-2903918004core:LandBuildings2023-03-012024-02-2903918004core:PlantMachinery2023-03-012024-02-2903918004core:Vehicles2023-03-012024-02-2903918004core:FurnitureFittings2023-03-012024-02-2903918004core:OfficeEquipment2023-03-012024-02-2903918004dpl:AdministrativeExpenses2023-03-012024-02-2903918004core:NetGoodwill2023-03-012024-02-2903918004core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2903918004dpl:GroupUndertakings2023-03-012024-02-2903918004dpl:ParticipatingInterests2023-03-012024-02-2903918004dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-2903918004core:ListedExchangeTraded2023-03-012024-02-2903918004dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-2903918004core:UnlistedNon-exchangeTraded2023-03-012024-02-2903918004dpl:CostSales2022-03-012023-02-2803918004dpl:DistributionCosts2022-03-012023-02-2803918004core:LandBuildings2022-03-012023-02-2803918004core:PlantMachinery2022-03-012023-02-2803918004core:Vehicles2022-03-012023-02-2803918004core:FurnitureFittings2022-03-012023-02-2803918004core:OfficeEquipment2022-03-012023-02-2803918004dpl:AdministrativeExpenses2022-03-012023-02-2803918004core:NetGoodwill2022-03-012023-02-2803918004core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2803918004dpl:GroupUndertakings2022-03-012023-02-2803918004dpl:ParticipatingInterests2022-03-012023-02-2803918004dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2803918004core:ListedExchangeTraded2022-03-012023-02-2803918004dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2803918004core:UnlistedNon-exchangeTraded2022-03-012023-02-2803918004core:NetGoodwill2024-02-2903918004core:IntangibleAssetsOtherThanGoodwill2024-02-2903918004core:LandBuildings2024-02-2903918004core:PlantMachinery2024-02-2903918004core:Vehicles2024-02-2903918004core:FurnitureFittings2024-02-2903918004core:OfficeEquipment2024-02-2903918004core:AfterOneYear2024-02-2903918004core:WithinOneYear2024-02-2903918004core:ListedExchangeTraded2024-02-2903918004core:UnlistedNon-exchangeTraded2024-02-2903918004core:ShareCapital2024-02-2903918004core:SharePremium2024-02-2903918004core:RevaluationReserve2024-02-2903918004core:OtherReservesSubtotal2024-02-2903918004core:RetainedEarningsAccumulatedLosses2024-02-2903918004core:NetGoodwill2023-02-2803918004core:IntangibleAssetsOtherThanGoodwill2023-02-2803918004core:LandBuildings2023-02-2803918004core:PlantMachinery2023-02-2803918004core:Vehicles2023-02-2803918004core:FurnitureFittings2023-02-2803918004core:OfficeEquipment2023-02-2803918004core:AfterOneYear2023-02-2803918004core:WithinOneYear2023-02-2803918004core:ListedEx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Graysonside Ltd.

Registered Number
03918004
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Graysonside Ltd.
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Andrew William Likeman
Janette Ilena Likeman

Company Secretary

Andrew William Likeman

Registered Address

Graysonside
Lorton Road
Cockermouth
CA13 9TQ

Registered Number

03918004 (England and Wales)
Graysonside Ltd.
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4642,607648,737
642,607648,737
Current assets
Cash at bank and on hand57,26896,891
57,26896,891
Creditors amounts falling due within one year6(123,153)(185,798)
Net current assets (liabilities)(65,885)(88,907)
Total assets less current liabilities576,722559,830
Provisions for liabilities7(24,174)(25,900)
Net assets552,548533,930
Capital and reserves
Called up share capital20,10020,100
Share premium180,000180,000
Profit and loss account352,448333,830
Shareholders' funds552,548533,930
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
Andrew William Likeman
Director
Janette Ilena Likeman
Director

Registered Company No. 03918004
Graysonside Ltd.
Notes to the Financial Statements
for the year ended 29 February 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings15-
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year53
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 March 23759,459117,828877,287
Additions11,92887312,801
At 29 February 24771,387118,701890,088
Depreciation and impairment
At 01 March 23152,82675,724228,550
Charge for year12,5276,40418,931
At 29 February 24165,35382,128247,481
Net book value
At 29 February 24606,03436,573642,607
At 28 February 23606,63342,104648,737
HSBC Bank PLC hold a charge on the Graysonside Land. Registered on the 27 July 2000.
5.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,2282,135
Taxation and social security14,13922,656
Other creditors104,485158,907
Accrued liabilities and deferred income2,3012,100
Total123,153185,798
7.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

2024

2023

££
Net deferred tax liability (asset)24,17425,900
Total24,17425,900