8 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 xbrli:pure xbrli:shares iso4217:GBP 03025507 2023-05-01 2024-04-30 03025507 2024-04-30 03025507 2023-04-30 03025507 2022-05-01 2023-04-30 03025507 2023-04-30 03025507 2022-04-30 03025507 core:PlantMachinery 2023-05-01 2024-04-30 03025507 bus:LeadAgentIfApplicable 2023-05-01 2024-04-30 03025507 bus:Director3 2023-05-01 2024-04-30 03025507 core:PlantMachinery 2023-04-30 03025507 core:PlantMachinery 2024-04-30 03025507 core:WithinOneYear 2024-04-30 03025507 core:WithinOneYear 2023-04-30 03025507 core:ShareCapital 2024-04-30 03025507 core:ShareCapital 2023-04-30 03025507 core:RetainedEarningsAccumulatedLosses 2024-04-30 03025507 core:RetainedEarningsAccumulatedLosses 2023-04-30 03025507 core:BetweenOneFiveYears 2024-04-30 03025507 core:BetweenOneFiveYears 2023-04-30 03025507 bus:Director3 2023-04-30 03025507 bus:Director3 2024-04-30 03025507 bus:Director3 2022-04-30 03025507 bus:Director3 2023-04-30 03025507 bus:Director3 2022-05-01 2023-04-30 03025507 bus:SmallEntities 2023-05-01 2024-04-30 03025507 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03025507 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03025507 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03025507 bus:FullAccounts 2023-05-01 2024-04-30 03025507 core:ComputerEquipment 2023-05-01 2024-04-30 03025507 core:ComputerEquipment 2023-04-30 03025507 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 03025507
Greymatters Technologies Limited
Filleted Unaudited Financial Statements
30 April 2024
Greymatters Technologies Limited
Financial Statements
Year ended 30th April 2024
Contents
Pages
Report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Greymatters Technologies Limited
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Greymatters Technologies Limited
Year ended 30th April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greymatters Technologies Limited for the year ended 30th April 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
30 January 2025
Greymatters Technologies Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
20,327
9,825
Current assets
Debtors
6
246,403
96,389
Cash at bank and in hand
113,835
185,421
---------
---------
360,238
281,810
Creditors: amounts falling due within one year
7
170,504
122,433
---------
---------
Net current assets
189,734
159,377
---------
---------
Total assets less current liabilities
210,061
169,202
---------
---------
Net assets
210,061
169,202
---------
---------
Capital and reserves
Called up share capital
120
120
Profit and loss account
209,941
169,082
---------
---------
Shareholders funds
210,061
169,202
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30th April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Greymatters Technologies Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Mr I. Griffiths
Director
Company registration number: 03025507
Greymatters Technologies Limited
Notes to the Financial Statements
Year ended 30th April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Two Wells Farm, Wotton Road, Iron Acton, Bristol, BS37 9XG.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 and machinery
-
33% straight line
Equipment
-
33% straight line
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.
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
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 6 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1st May 2023
7,990
19,637
27,627
Additions
18,334
18,334
-------
--------
--------
At 30th April 2024
7,990
37,971
45,961
-------
--------
--------
Depreciation
At 1st May 2023
7,990
9,812
17,802
Charge for the year
7,832
7,832
-------
--------
--------
At 30th April 2024
7,990
17,644
25,634
-------
--------
--------
Carrying amount
At 30th April 2024
20,327
20,327
-------
--------
--------
At 30th April 2023
9,825
9,825
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
152,531
69,592
Other debtors
93,872
26,797
---------
--------
246,403
96,389
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
64,004
19,979
Corporation tax
43,479
34,687
Social security and other taxes
53,397
48,169
Other creditors
9,624
19,598
---------
---------
170,504
122,433
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
24,319
20,803
Later than 1 year and not later than 5 years
1,030
4,118
--------
--------
25,349
24,921
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr I. Griffiths
( 2,427)
( 2,666)
( 5,093)
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr I. Griffiths
( 719)
( 1,708)
( 2,427)
----
-------
-------
10. Controlling party
Since 4 August 2021 the company has been a 100% subsidiary undertaking of Crayside Holdings Limited .