Company registration number 08752259 (England and Wales)
GRAYSON EDUCATION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GRAYSON EDUCATION LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GRAYSON EDUCATION LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
463
717
Current assets
Debtors
4
10,106
9,189
Cash at bank and in hand
10,733
20,489
20,839
29,678
Creditors: amounts falling due within one year
5
(18,467)
(31,639)
Net current assets/(liabilities)
2,372
(1,961)
Total assets less current liabilities
2,835
(1,244)
Creditors: amounts falling due after more than one year
6
(2,728)
(5,204)
Provisions for liabilities
(88)
(136)
Net assets/(liabilities)
19
(6,584)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
9
(6,594)
Total equity
19
(6,584)
GRAYSON EDUCATION LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Miss C Waring
Director
Company registration number 08752259 (England and Wales)
GRAYSON EDUCATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Grayson Education Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor,86-90 Paul Street, Paul Street, London, United Kingdom, EC2A 4NE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computers
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.
GRAYSON EDUCATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,070
4,432
5,502
Depreciation and impairment
At 1 April 2023
696
4,089
4,785
Depreciation charged in the year
93
161
254
At 31 March 2024
789
4,250
5,039
Carrying amount
At 31 March 2024
281
182
463
At 31 March 2023
374
343
717
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
10,106
9,189
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,488
2,427
Corporation tax
1,656
100
Other creditors
14,323
29,112
18,467
31,639
GRAYSON EDUCATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,728
5,204
7
Directors' transactions
The below loan is unsecured, interest free & repayable on demand. All the figures are disclosed on an aggregate basis.
2024
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors loan - Miss C Waring
6,432
(1,392)
5,040
6,432
(1,392)
5,040
2023
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors Loan - Miss C Waring
7,343
(911)
6,432
7,343
(911)
6,432