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REGISTERED NUMBER: 06840036 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Gracie Academy Ltd

Gracie Academy Ltd (Registered number: 06840036)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Gracie Academy Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R Gracie Gomes





SECRETARY:





REGISTERED OFFICE: 36 Queens Road
Newbury
Berkshire
RG14 7NE





REGISTERED NUMBER: 06840036 (England and Wales)





ACCOUNTANTS: Accounting & Taxation Centre BTD
36 Queens Road
Newbury
Berkshire
RG14 7NE

Gracie Academy Ltd (Registered number: 06840036)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 228,584 231,225

CURRENT ASSETS
Inventories 3,120 2,725
Debtors 17,570 -
Cash at bank and in hand 3,439 57,937
24,129 60,662
CREDITORS
Amounts falling due within one year 197,241 197,838
NET CURRENT LIABILITIES (173,112 ) (137,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,472

94,049

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,372 93,949
SHAREHOLDERS' FUNDS 55,472 94,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gracie Academy Ltd (Registered number: 06840036)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 16 October 2024 and were signed by:





R Gracie Gomes - Director


Gracie Academy Ltd (Registered number: 06840036)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gracie Academy Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Inventories 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

Gracie Academy Ltd (Registered number: 06840036)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2023
and 31 March 2024 247,723
DEPRECIATION
At 1 April 2023 16,498
Charge for year 2,641
At 31 March 2024 19,139
NET BOOK VALUE
At 31 March 2024 228,584
At 31 March 2023 231,225