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REGISTERED NUMBER: 10606110 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2024

for

GREYCOVE LIMITED

GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Contents of the Financial Statements
for the year ended 28 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GREYCOVE LIMITED

Company Information
for the year ended 28 February 2024







Directors: Mr J Lucas
Mr J C Shiels





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 10606110 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Statement of Financial Position
28 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 33,188 1,333
33,188 1,333

Current assets
Debtors 6 270,570 274,496
Cash at bank 68,302 83,902
338,872 358,398
Creditors
Amounts falling due within one year 7 351,869 224,488
Net current (liabilities)/assets (12,997 ) 133,910
Total assets less current liabilities 20,191 135,243

Creditors
Amounts falling due after more than one
year

8

20,000

30,000
Net assets 191 105,243

Capital and reserves
Called up share capital 10 100 100
Retained earnings 91 105,143
Shareholders' funds 191 105,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Statement of Financial Position - continued
28 February 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:





Mr J C Shiels - Director


GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Notes to the Financial Statements
for the year ended 28 February 2024


1. Statutory information

Greycove Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Office equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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 3 (2023 - 4 ) .

GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Notes to the Financial Statements - continued
for the year ended 28 February 2024


4. Intangible fixed assets
Computer
software
£   
Cost
At 1 March 2023
and 28 February 2024 1,000
Amortisation
At 1 March 2023
and 28 February 2024 1,000
Net book value
At 28 February 2024 -
At 28 February 2023 -

5. Tangible fixed assets
Motor Office
vehicles equipment Totals
£    £    £   
Cost
At 1 March 2023 - 6,311 6,311
Additions 40,982 2,316 43,298
At 28 February 2024 40,982 8,627 49,609
Depreciation
At 1 March 2023 - 4,978 4,978
Charge for year 10,246 1,197 11,443
At 28 February 2024 10,246 6,175 16,421
Net book value
At 28 February 2024 30,736 2,452 33,188
At 28 February 2023 - 1,333 1,333

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 123,318 39,404
Other debtors 147,252 235,092
270,570 274,496

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 21,649 -
Trade creditors 78,790 78,006
Amounts owed to associates 171,500 75,000
Taxation and social security 36,555 38,282
Other creditors 33,375 23,200
351,869 224,488

GREYCOVE LIMITED (REGISTERED NUMBER: 10606110)

Notes to the Financial Statements - continued
for the year ended 28 February 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 20,000 30,000

9. Leasing agreements

Non-cancellable operating leases
2024 2023
£    £   
Within one year 2,563 7,832
Between one and five years 7,442 2,461
10,005 10,293

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 28 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr J Lucas
Balance outstanding at start of year 17,178 23,106
Amounts repaid (17,178 ) (5,928 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,178

Mr J C Shiels
Balance outstanding at start of year 17,178 229
Amounts repaid (17,178 ) 16,949
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,178