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REGISTERED NUMBER: 05815110 (England and Wales)















JAMES GRAY ASSOCIATES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

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


JAMES GRAY ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M R B Kemp
N J Day
A E Choudhury
S J Yardley
T J Croughton





SECRETARY: Indigo Secretaries Limited





REGISTERED OFFICE: 3 Kensworth Gate
200-204 High Street South
Dunstable
Bedfordshire
LU6 3HS





REGISTERED NUMBER: 05815110 (England and Wales)





ACCOUNTANTS: Higginson & Co (UK) Ltd
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,870 105,107

CURRENT ASSETS
Debtors 5 540,912 376,843
Cash at bank and in hand 469,343 740,251
1,010,255 1,117,094
CREDITORS
Amounts falling due within one year 6 421,336 375,156
NET CURRENT ASSETS 588,919 741,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

665,789

847,045

PROVISIONS FOR LIABILITIES 7 17,559 25,460
NET ASSETS 648,230 821,585

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Share options reserve 6,634 3,267
Retained earnings 640,595 817,317
SHAREHOLDERS' FUNDS 648,230 821,585

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.

JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





M R B Kemp - Director


JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

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


1. STATUTORY INFORMATION

James Gray Associates 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.
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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 28 (2023 - 25 ) .

JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 86,074 56,881 89,120 232,075
Additions 1,642 - 7,311 8,953
Disposals (13,867 ) - (39,819 ) (53,686 )
At 31 March 2024 73,849 56,881 56,612 187,342
DEPRECIATION
At 1 April 2023 41,937 24,885 60,146 126,968
Charge for year 15,038 7,999 14,153 37,190
Eliminated on disposal (13,867 ) - (39,819 ) (53,686 )
At 31 March 2024 43,108 32,884 34,480 110,472
NET BOOK VALUE
At 31 March 2024 30,741 23,997 22,132 76,870
At 31 March 2023 44,137 31,996 28,974 105,107

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 402,778 303,149
Other debtors 69,155 -
Prepayments and accrued income 68,979 73,694
540,912 376,843

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 30,044 13,151
Corporation tax 85,658 156,433
Social security and other taxes 43,183 53,424
VAT 92,594 103,077
Directors' current accounts 1,187 2,820
Accrued expenses 168,670 46,251
421,336 375,156

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 17,559 25,460

JAMES GRAY ASSOCIATES LTD (REGISTERED NUMBER: 05815110)

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


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 25,460
Credit to Income Statement during year (7,901 )
Balance at 31 March 2024 17,559

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M R B Kemp
Balance outstanding at start of year 2,712 83
Amounts advanced - 2,629
Amounts repaid (2,203 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 509 2,712

N J Day
Balance outstanding at start of year 108 (5,917 )
Amounts advanced 570 6,025
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 678 108