3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 136,160 136,160 136,160 xbrli:pure xbrli:shares iso4217:GBP 00565476 2023-05-01 2024-04-30 00565476 2024-04-30 00565476 2023-04-30 00565476 2022-05-01 2023-04-30 00565476 2023-04-30 00565476 2022-04-30 00565476 core:PlantMachinery 2023-05-01 2024-04-30 00565476 core:FurnitureFittings 2023-05-01 2024-04-30 00565476 bus:Director1 2023-05-01 2024-04-30 00565476 core:LandBuildings 2023-04-30 00565476 core:PlantMachinery 2023-04-30 00565476 core:FurnitureFittings 2023-04-30 00565476 core:LandBuildings 2024-04-30 00565476 core:PlantMachinery 2024-04-30 00565476 core:FurnitureFittings 2024-04-30 00565476 core:WithinOneYear 2024-04-30 00565476 core:WithinOneYear 2023-04-30 00565476 core:LandBuildings 2023-05-01 2024-04-30 00565476 core:ShareCapital 2024-04-30 00565476 core:ShareCapital 2023-04-30 00565476 core:CapitalRedemptionReserve 2024-04-30 00565476 core:RetainedEarningsAccumulatedLosses 2024-04-30 00565476 core:RetainedEarningsAccumulatedLosses 2023-04-30 00565476 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 00565476 core:Non-currentFinancialInstruments 2024-04-30 00565476 core:Non-currentFinancialInstruments 2023-04-30 00565476 core:LandBuildings 2023-04-30 00565476 core:PlantMachinery 2023-04-30 00565476 core:FurnitureFittings 2023-04-30 00565476 bus:SmallEntities 2023-05-01 2024-04-30 00565476 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00565476 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 00565476 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00565476 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 00565476
Grays of Chatham Limited
Filleted Unaudited Financial Statements
30 April 2024
Grays of Chatham Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
887,044
2,268,592
Investments
6
136,160
136,160
------------
------------
1,023,204
2,404,752
Current assets
Stocks
465,461
379,278
Debtors
7
5,670
( 494)
Cash at bank and in hand
531,716
283,930
------------
---------
1,002,847
662,714
Creditors: amounts falling due within one year
8
338,249
360,554
------------
---------
Net current assets
664,598
302,160
------------
------------
Total assets less current liabilities
1,687,802
2,706,912
------------
------------
Capital and reserves
Called up share capital
30,000
40,000
Capital redemption reserve
10,000
Profit and loss account
1,647,802
2,666,912
------------
------------
Shareholders funds
1,687,802
2,706,912
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Grays of Chatham Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 14 January 2025 , and are signed on behalf of the board by:
D N Gray
Director
Company registration number: 00565476
Grays of Chatham Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor 9 High Street, Chatham, Kent, ME4 4EN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are recorded initially as cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
25% reducing balance
Fixtures & Fitings
-
25% reducing balance
Freehold buildings
Freehold buildings, are maintained to ensure that their value does not diminish over time. In the opinion of the directors the nature of the proposed level of maintenance will result in a very high residual value such that depreciation would be immaterial and consequently not been charged. The buildings are reviewed for impairment at the end of each reporting period.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 May 2023
2,268,534
5,537
8,286
2,282,357
Disposals
( 1,381,534)
( 1,381,534)
------------
-------
-------
------------
At 30 April 2024
887,000
5,537
8,286
900,823
------------
-------
-------
------------
Depreciation
At 1 May 2023
5,512
8,253
13,765
Charge for the year
6
8
14
------------
-------
-------
------------
At 30 April 2024
5,518
8,261
13,779
------------
-------
-------
------------
Carrying amount
At 30 April 2024
887,000
19
25
887,044
------------
-------
-------
------------
At 30 April 2023
2,268,534
25
33
2,268,592
------------
-------
-------
------------
6. Investments
Other investments other than loans
£
Cost
At 1 May 2023 and 30 April 2024
136,160
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
136,160
---------
At 30 April 2023
136,160
---------
The company owns 100% of the issued share capital of the companies listed below.
Aggregate capital and reserves
2024 2023
£ £
Grays (Medway) Limited 200,000 200,000
Profit and (loss) for the year
2024 2023
£ £
Grays (Medway) Limited (-) (-)
Under the provision of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
7. Debtors
2024
2023
£
£
Trade debtors
1,550
( 494)
Other debtors
4,120
-------
----
5,670
( 494)
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
33,477
7,912
Amounts owed to group undertakings and undertakings in which the company has a participating interest
200,785
200,785
Corporation tax
9,697
9,714
Social security and other taxes
2,084
9,600
Other creditors
92,206
132,543
---------
---------
338,249
360,554
---------
---------