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Registered Number: 10561698
England and Wales

 

 

 

MATT GRAY DESIGN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director M Gray
Registered Number 10561698
Registered Office 28a Gracefield Gardens, London,
England,
SW16 2ST
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
1
 

 
Notes

 
2024
£

  2023
£
(as restated)
Fixed assets      
Tangible fixed assets 3 3,706    6,129 
3,706    6,129 
Current assets      
Debtors 4 257,020    129,249 
Cash at bank and in hand 62,437    34,553 
319,457    163,802 
Creditors: amount falling due within one year 5 (213,828)   (50,734)
Net current assets 105,629    113,068 
 
Total assets less current liabilities 109,335    119,197 
Net assets 109,335    119,197 
 

Capital and reserves
     
Called up share capital 6 1    1 
Profit and loss account 109,334    119,196 
Shareholders' funds 109,335    119,197 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 28 October 2024 and were signed by:


-------------------------------
M Gray
Director
2
Company information
Matt Gray Design Limited is a private company limited by shares incorporated in England and Wales. The registered office is 28A Gracefield Gardens, London, England, SW16 2ST.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 5 Years Straight Line
Computer Equipment 5 Years Straight Line
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.


Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.


Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2023 7,994    12,760    20,754 
Additions   191    191 
Disposals    
At 31 March 2024 7,994    12,951    20,945 
Depreciation
At 01 April 2023 6,385    8,240    14,625 
Charge for year 693    1,921    2,614 
On disposals    
At 31 March 2024 7,078    10,161    17,239 
Net book values
Closing balance as at 31 March 2024 916    2,790    3,706 
Opening balance as at 01 April 2023 1,609    4,520    6,129 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 202,864    46,169 
Directors' Loan Account 54,156    60,287 
R&D Credit Receivable   22,793 
257,020    129,249 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,048   
Corporation Tax 29,464    29,845 
VAT 58,541    20,239 
Deferred Income 123,125   
Accruals 650    650 
213,828    50,734 

6.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

7.

Prior period restatement

The following restatement is in relation to the R&D tax credit and repayment interest received during the year ended 31 March 2023, which was not included within the figures in the previously filed financial statements. 

Particulars   Restated
£
  Adjustment
£
  Previously Filed
£
Other interest receivable and similar income 1,091  805  286 
Tax on profit on ordinary activities (7,857) 21,988  (29,845)
Debtors 129,249  22,793  106,456 

3