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REGISTERED NUMBER: 06230862 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GRACE AND MABEL LTD

GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRACE AND MABEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs D Benson
Mrs K J Smith
Mrs S A Presland





SECRETARY: Mrs D Benson





REGISTERED OFFICE: Boyce's Building
40-42 Regent Street
Clifton Bristol
BS8 4HU





REGISTERED NUMBER: 06230862 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,910 3,460

CURRENT ASSETS
Stocks 141,011 165,450
Debtors 5 65,062 10,631
Cash at bank and in hand 177,068 169,073
383,141 345,154
CREDITORS
Amounts falling due within one year 6 158,056 74,985
NET CURRENT ASSETS 225,085 270,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,995

273,629

PROVISIONS FOR LIABILITIES 7 1,478 657
NET ASSETS 229,517 272,972

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 229,514 272,969
SHAREHOLDERS' FUNDS 229,517 272,972

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 directors acknowledge their 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.

GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)

BALANCE SHEET - 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mrs D Benson - Director


GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Grace and Mabel 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
Turnover 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.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks 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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 6,734 1,749 81,996 11,371 101,850
Additions - - 1,115 3,914 5,029
At 31 March 2024 6,734 1,749 83,111 15,285 106,879
DEPRECIATION
At 1 April 2023 5,387 1,749 81,208 10,046 98,390
Charge for year 673 - 669 1,237 2,579
At 31 March 2024 6,060 1,749 81,877 11,283 100,969
NET BOOK VALUE
At 31 March 2024 674 - 1,234 4,002 5,910
At 31 March 2023 1,347 - 788 1,325 3,460

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors (87 ) 2,716
Other debtors 65,149 7,915
65,062 10,631

GRACE AND MABEL LTD (REGISTERED NUMBER: 06230862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 122,342 32,159
Taxation and social security 20,899 29,622
Other creditors 14,815 13,204
158,056 74,985

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 1,478 657

Deferred
tax
£   
Balance at 1 April 2023 657
Accelerated Capital Allowances 821
Balance at 31 March 2024 1,478

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3 Ordinary £1 3 3

9. RELATED PARTY DISCLOSURES

The company maintains an interest free loan account with the directors. At the balance sheet date, the company owed the directors £8,001 (2023; £6,000).

The company maintains a interest free loan account with My Sister Limited, a company owned by the directors. At the year end, My Sister Limited owed Grace and Mabel £52,552 (2023: £Nil).

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.