Registered number
10099112
Greywolf Construction Limited
Filleted Accounts
31 August 2024
Greywolf Construction Limited
Registered number: 10099112
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,936 26,009
Current assets
Debtors 4 344,291 295,164
Cash at bank and in hand 19,521 514
363,812 295,678
Creditors: amounts falling due within one year 5 (288,297) (206,838)
Net current assets 75,515 88,840
Total assets less current liabilities 92,451 114,849
Creditors: amounts falling due after more than one year 6 (1,711) (3,582)
Net assets 90,740 111,267
Capital and reserves
Called up share capital 100 100
Profit and loss account 90,640 111,167
Shareholders' funds 90,740 111,267
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Bassan
Director
Approved by the board on 28 May 2025
Greywolf Construction Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% per annum
Motor vehicles 20% per annum
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 2,558 27,838 30,396
At 31 August 2024 2,558 27,838 30,396
Depreciation
At 1 September 2023 742 3,645 4,387
Charge for the year 364 8,709 9,073
At 31 August 2024 1,106 12,354 13,460
Net book value
At 31 August 2024 1,452 15,484 16,936
At 31 August 2023 1,816 24,193 26,009
4 Debtors 2024 2023
£ £
Trade debtors 332,444 282,967
Other debtors 11,847 12,197
344,291 295,164
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,872 1,872
Taxation and social security costs 29,176 18,865
Other creditors 257,249 186,101
288,297 206,838
6 Creditors: amounts falling due after one year 2024 2023
£ £
Loan 1,711 3,582
7 Related party transactions
GJA Investments Ltd is a related party and the company is indebted to them by £42,254 as at the year end. (2023: £51,246)

GJA Developments Ltd is a related party and the company is indebted to them by £190,188 as at the year end. (2023: £5,000)

E7 Homes Ltd is a related party and are indebted to the company by £1,600 as at the year end. (2023: £1,950).
8 Other information
Greywolf Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Mendoza Close
Hornchurch
Essex
RM11 2RP
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