Registered number
06149059
Eastern Grey Limited
Filleted Accounts
31 March 2024
Eastern Grey Limited
Registered number: 06149059
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 313 241
Current assets
Debtors 5 3,031 2,223
Cash at bank and in hand 397 44
3,428 2,267
Creditors: amounts falling due within one year 6 (1,047) 2,412
Net current assets 2,381 4,679
Total assets less current liabilities 2,694 4,920
Creditors: amounts falling due after more than one year 7 (2,499) (3,402)
Net assets 195 1,518
Capital and reserves
Called up share capital 2 2
Profit and loss account 193 1,516
Shareholder's funds 195 1,518
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Brian Skipp
Director
Approved by the board on 25 November 2024
Eastern Grey Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Amortisation
At 1 April 2023 50,000
At 31 March 2024 50,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 5,178
Additions 260
At 31 March 2024 5,438
Depreciation
At 1 April 2023 4,937
Charge for the year 188
At 31 March 2024 5,125
Net book value
At 31 March 2024 313
At 31 March 2023 241
5 Debtors 2024 2023
£ £
Trade debtors 3,031 2,223
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 37 -
Taxation and social security costs 1,719 1,587
Other creditors (709) (3,999)
1,047 (2,412)
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,499 3,402
8 Other information
Eastern Grey Limited is a private company limited by shares and incorporated in England. Its registered office is:
30 Irvine Road
Colchester
Essex
CO3 3TR
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