1 1 Grays Carpentry Ltd 12053312 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is carpentry contractors. Digita Accounts Production Advanced 6.30.9574.0 true 12053312 2023-07-01 2024-06-30 12053312 2024-06-30 12053312 bus:OrdinaryShareClass1 2024-06-30 12053312 bus:OrdinaryShareClass2 2024-06-30 12053312 core:CurrentFinancialInstruments 2024-06-30 12053312 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 12053312 core:MotorVehicles 2024-06-30 12053312 core:OtherPropertyPlantEquipment 2024-06-30 12053312 bus:SmallEntities 2023-07-01 2024-06-30 12053312 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12053312 bus:FilletedAccounts 2023-07-01 2024-06-30 12053312 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12053312 bus:RegisteredOffice 2023-07-01 2024-06-30 12053312 bus:Director1 2023-07-01 2024-06-30 12053312 bus:Director2 2023-07-01 2024-06-30 12053312 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 12053312 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 12053312 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12053312 bus:Agent1 2023-07-01 2024-06-30 12053312 core:MotorVehicles 2023-07-01 2024-06-30 12053312 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 12053312 core:ToolsEquipment 2023-07-01 2024-06-30 12053312 countries:AllCountries 2023-07-01 2024-06-30 12053312 2023-06-30 12053312 core:MotorVehicles 2023-06-30 12053312 core:OtherPropertyPlantEquipment 2023-06-30 12053312 2022-07-01 2023-06-30 12053312 2023-06-30 12053312 bus:OrdinaryShareClass1 2023-06-30 12053312 bus:OrdinaryShareClass2 2023-06-30 12053312 core:CurrentFinancialInstruments 2023-06-30 12053312 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12053312 core:MotorVehicles 2023-06-30 12053312 core:OtherPropertyPlantEquipment 2023-06-30 12053312 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 12053312 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 12053312

Grays Carpentry Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Grays Carpentry Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Grays Carpentry Ltd

Company Information

Directors

Mr T S Gray

Mrs J L Gray

Registered office

68 Northumberland Avenue
Margate
Kent
CT9 3LY

Accountants

Burgess Accountancy Services 46-47 The Strand
Walmer
Deal
Kent
CT14 7DX

 

Grays Carpentry Ltd

(Registration number: 12053312)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,909

8,843

Current assets

 

Debtors

5

5,915

4,345

Cash at bank and in hand

 

1,085

10,283

 

7,000

14,628

Creditors: Amounts falling due within one year

6

(12,813)

(12,246)

Net current (liabilities)/assets

 

(5,813)

2,382

Total assets less current liabilities

 

1,096

11,225

Provisions for liabilities

(1,313)

(1,680)

Net (liabilities)/assets

 

(217)

9,545

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(219)

9,543

Shareholders' (deficit)/funds

 

(217)

9,545

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

 

Grays Carpentry Ltd

(Registration number: 12053312)
Balance Sheet as at 30 June 2024

.........................................
Mr T S Gray
Director

.........................................
Mrs J L Gray
Director

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
68 Northumberland Avenue
Margate
Kent
CT9 3LY

These financial statements were authorised for issue by the Board on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% Written down value

Plant and machinery

25% Written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

13,470

8,781

22,251

At 30 June 2024

13,470

8,781

22,251

Depreciation

At 1 July 2023

7,952

5,456

13,408

Charge for the year

1,103

831

1,934

At 30 June 2024

9,055

6,287

15,342

Carrying amount

At 30 June 2024

4,415

2,494

6,909

At 30 June 2023

5,518

3,325

8,843

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,490

2,715

Prepayments

509

445

Other debtors

916

1,185

 

5,915

4,345

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

10,692

10,324

Accruals and deferred income

1,805

1,660

Other creditors

316

262

12,813

12,246

7

Share capital

Allotted, called up and fully paid shares

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary A of £1 each

1

1

1

1

2

2

2

2

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £26,000.00 (2023 - £25,500.00) per each Ordinary

26,000

25,500

Interim dividend of £26,000.00 (2023 - £25,500.00) per each Ordinary A

26,000

25,500

52,000

51,000

9

Related party transactions

 

Grays Carpentry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,600

12,600

Contributions paid to money purchase schemes

5,100

4,802

17,700

17,402