Company registration number 13008056 (England and Wales)
GRACIE B LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GRACIE B LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GRACIE B LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
11,250
13,125
Tangible assets
4
38,224
43,578
49,474
56,703
Current assets
Stocks
4,326
4,326
Debtors
5
3,949
14,717
Cash at bank and in hand
4,541
3,440
12,816
22,483
Creditors: amounts falling due within one year
6
(156,139)
(153,004)
Net current liabilities
(143,323)
(130,521)
Net liabilities
(93,849)
(73,818)
Capital and reserves
Called up share capital
100
100
Share premium account
50,000
50,000
Profit and loss reserves
(143,949)
(123,918)
Total equity
(93,849)
(73,818)

For the financial year ended 30 November 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 and signed by the director and authorised for issue on 27 March 2025
Mrs G Burrows
Director
Company registration number 13008056 (England and Wales)
GRACIE B LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information

Gracie B Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, England, NG13 8AQ.

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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

1.4
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:

Leasehold improvements
nil%
Fixtures and fittings
Enter depreciation rate via StatDB - cd77
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

GRACIE B LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
18,750
Amortisation and impairment
At 1 December 2023
5,625
Amortisation charged for the year
1,875
At 30 November 2024
7,500
Carrying amount
At 30 November 2024
11,250
At 30 November 2023
13,125
GRACIE B LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2023
14,959
55,897
70,856
Additions
-
0
535
535
Disposals
-
0
(142)
(142)
At 30 November 2024
14,959
56,290
71,249
Depreciation and impairment
At 1 December 2023
-
0
27,278
27,278
Depreciation charged in the year
-
0
5,816
5,816
Eliminated in respect of disposals
-
0
(69)
(69)
At 30 November 2024
-
0
33,025
33,025
Carrying amount
At 30 November 2024
14,959
23,265
38,224
At 30 November 2023
14,959
28,619
43,578
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,949
14,717
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,747
6,326
Taxation and social security
12,018
2,175
Other creditors
139,374
144,503
156,139
153,004
GRACIE B LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
21,129
38,319
8
Related party transactions
Balances with related parties

At the year end the company owed balances to another entity holding a participating interest.

 

This loan is unsecured, interest free and repayable on demand.

Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Entity with participating interest
-
0
-
0
114,464
112,464
9
Directors' transactions

The advance is unsecured, interest free and repayable on demand.

Description
% Rate
Opening balance
Closing balance
£
£
Directors' loan account
-
2,391
2,391
2,391
2,391
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