IRIS Accounts Production v24.3.2.46 00176825 Board of Directors 1.12.23 30.11.24 30.11.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh001768252023-11-30001768252024-11-30001768252023-12-012024-11-30001768252022-11-30001768252022-12-012023-11-30001768252023-11-3000176825ns15:EnglandWales2023-12-012024-11-3000176825ns14:PoundSterling2023-12-012024-11-3000176825ns10:Director12023-12-012024-11-3000176825ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3000176825ns10:SmallEntities2023-12-012024-11-3000176825ns10:AuditExemptWithAccountantsReport2023-12-012024-11-3000176825ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3000176825ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3000176825ns10:FullAccounts2023-12-012024-11-3000176825ns10:Director22023-12-012024-11-3000176825ns10:RegisteredOffice2023-12-012024-11-3000176825ns5:CurrentFinancialInstruments2024-11-3000176825ns5:CurrentFinancialInstruments2023-11-3000176825ns5:ShareCapital2024-11-3000176825ns5:ShareCapital2023-11-3000176825ns5:RetainedEarningsAccumulatedLosses2024-11-3000176825ns5:RetainedEarningsAccumulatedLosses2023-11-3000176825ns5:PlantMachinery2023-12-012024-11-3000176825ns5:FurnitureFittings2023-12-012024-11-3000176825ns5:MotorVehicles2023-12-012024-11-3000176825ns5:PlantMachinery2023-11-3000176825ns5:FurnitureFittings2023-11-3000176825ns5:MotorVehicles2023-11-3000176825ns5:PlantMachinery2024-11-3000176825ns5:FurnitureFittings2024-11-3000176825ns5:MotorVehicles2024-11-3000176825ns5:PlantMachinery2023-11-3000176825ns5:FurnitureFittings2023-11-3000176825ns5:MotorVehicles2023-11-3000176825ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3000176825ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3000176825ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-11-3000176825ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-11-3000176825ns5:WithinOneYear2024-11-3000176825ns5:WithinOneYear2023-11-30
REGISTERED NUMBER: 00176825 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Gray of Wokingham Limited

Gray of Wokingham Limited (Registered number: 00176825)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

Gray of Wokingham Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: P S Gray
Paul Gray





REGISTERED OFFICE: Grays Farm
Heathlands Road
Wokingham
Berkshire
RG40 3AN





REGISTERED NUMBER: 00176825 (England and Wales)





ACCOUNTANTS: PKB Accountants Limited
Chartered Certified Accountants
Beechey House
87 Church Street
Crowthorne
Berkshire
RG45 7AW

Gray of Wokingham Limited (Registered number: 00176825)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,759 57,504

CURRENT ASSETS
Stocks 67,097 70,515
Debtors 5 5,769 6,931
Cash at bank and in hand 97,027 84,639
169,893 162,085
CREDITORS
Amounts falling due within one year 6 249,003 289,476
NET CURRENT LIABILITIES (79,110 ) (127,391 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(30,351

)

(69,887

)

PROVISIONS FOR LIABILITIES 11,534 9,932
NET LIABILITIES (41,885 ) (79,819 )

CAPITAL AND RESERVES
Called up share capital 12,602 12,602
Retained earnings (54,487 ) (92,421 )
SHAREHOLDERS' FUNDS (41,885 ) (79,819 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Gray of Wokingham Limited (Registered number: 00176825)

Balance Sheet - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





P S Gray - Director


Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Gray of Wokingham 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.

Going Concern

The accounts have been drawn up on a going concern basis. Of the company's liabilities, £241,801 is owed to a director. The director has agreed not to demand repayment of this amount for at least one year after the balance sheet signing date.

The company shareholders and directors have also agreed to offer their continued support to the company.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents sales of farm produce net of VAT. Turnover is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are paid for by the customer.

Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All classes of Tangible Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the Company reviews the carrying amounts of its Tangible Fixed Assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined ( net of depreciation ) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income statement, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset abd substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities and equity
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Basic Financial liabilities
Basic financial liabilities, including trade and other creditors, amounts due to fellow group companies, accruals, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank and on hand, deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities when applicable.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of the direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 100,094 10,318 7,995 118,407
Additions 315 - - 315
At 30 November 2024 100,409 10,318 7,995 118,722
DEPRECIATION
At 1 December 2023 50,720 6,054 4,129 60,903
Charge for year 7,454 640 966 9,060
At 30 November 2024 58,174 6,694 5,095 69,963
NET BOOK VALUE
At 30 November 2024 42,235 3,624 2,900 48,759
At 30 November 2023 49,374 4,264 3,866 57,504

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 5,769 6,931

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts (see note 7) - 10,451
Taxation and social security 475 720
Other creditors 248,528 278,305
249,003 289,476

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year - 10,451

Gray of Wokingham Limited (Registered number: 00176825)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.11.24 30.11.23
£    £   
Within one year 18,500 18,500

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gray of Wokingham Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gray of Wokingham Limited for the year ended 30 November 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Gray of Wokingham Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gray of Wokingham Limited and state those matters that we have agreed to state to the Board of Directors of Gray of Wokingham Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gray of Wokingham Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gray of Wokingham Limited. You consider that Gray of Wokingham Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gray of Wokingham Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PKB Accountants Limited
Chartered Certified Accountants
Beechey House
87 Church Street
Crowthorne
Berkshire
RG45 7AW


12 March 2025