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Registered number: 04367346
GRAYER SERVICES LIMITED
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04367346
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,983 7,765
8,983 7,765
CURRENT ASSETS
Debtors 5 20,962 28,803
Cash at bank and in hand 211,032 145,262
231,994 174,065
Creditors: Amounts Falling Due Within One Year 6 (42,048 ) (35,480 )
NET CURRENT ASSETS (LIABILITIES) 189,946 138,585
TOTAL ASSETS LESS CURRENT LIABILITIES 198,929 146,350
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (264 ) (16 )
NET ASSETS 198,665 146,334
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 198,663 146,332
SHAREHOLDERS' FUNDS 198,665 146,334
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For the year ending 28 February 2024 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 director acknowledges his 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
Mr T GRAYER
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GRAYER SERVICES LIMITED Registered number 04367346 is a limited by shares company incorporated in England & Wales. The Registered Office is 23 EASTERN AVENUE, SHOREHAM BY SEA, BN43 6PD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 10% straight line on cost
Motor Vehicles 25% straight line on cost
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees during the year, including directors, during the year was as follows:
2024 2023
Office and administration 1 -
Manufacturing 1 1
2 1
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 44,099 67,818 111,917
Additions 2,266 5,740 8,006
As at 28 February 2024 46,365 73,558 119,923
Depreciation
As at 1 March 2023 36,334 67,818 104,152
Provided during the period 5,353 1,435 6,788
As at 28 February 2024 41,687 69,253 110,940
Net Book Value
As at 28 February 2024 4,678 4,305 8,983
As at 1 March 2023 7,765 - 7,765
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,962 28,803
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,476 10,215
Corporation tax 13,806 14,572
Other taxes and social security 1,080 527
VAT 3,246 4,196
Other creditors 4,800 4,330
Director's loan account 1,640 1,640
42,048 35,480
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 440 192
Other timing differences (176) (176)
264 16
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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9. Pension Commitments
The company operates a defined contribution pension scheme for T A Grayer. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of nil (2016 nil) were due to the fund. They are included in Other Creditors.
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
11. Controlling Party
The company's controlling party is Mr T Grayer by virtue of his ownership of 100 % of the issued share capital in the company.
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