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REGISTERED NUMBER: 04085062 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

GRAYFORD INDUSTRIAL LIMITED

GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 530,518 563,943

CURRENT ASSETS
Stocks 426,442 261,800
Debtors 5 4,170,824 3,457,351
Cash at bank and in hand 171,948 310,187
4,769,214 4,029,338
CREDITORS
Amounts falling due within one year 6 3,147,506 2,459,208
NET CURRENT ASSETS 1,621,708 1,570,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,152,226

2,134,073

CREDITORS
Amounts falling due after more than one
year

7

(292,777

)

(319,408

)

PROVISIONS FOR LIABILITIES (14,559 ) (18,011 )
NET ASSETS 1,844,890 1,796,654

CAPITAL AND RESERVES
Called up share capital 10 7 7
Capital redemption reserve 3 3
Retained earnings 1,844,880 1,796,644
SHAREHOLDERS' FUNDS 1,844,890 1,796,654

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:




I E Gray - Director



J P Welby - Director


GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Grayford Industrial Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04085062

Registered office: Unit 8 Lion Centre
Hanworth Trading Estate
Hampton Road West
Feltham
Middlesex
TW13 6DS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principal accounting policies of the company 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.

Basis of accounting
These financial statements are prepared on a going concern basis, under the historical cost convention. The financial statements are presented in pound sterling which is the company's functional currency.

These financial statements are prepared in accordance with FRS 102 including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

Revenue
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added tax.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; and (d) it is probable that future economic benefits will flow to the entity.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Cost includes the original purchase price of the asset plus costs attributable to bringing the asset to its working condition for its intended use. Land is not depreciated. Depreciation on other assets is charged from the time when tangible assets are brought into use and is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Land and buildings- 2% straight line
Plant and machinery etc- 25% straight line and 25% reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Transactions denominated in foreign currencies are translated and recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the balance sheet date. Gains and losses on retranslation are recognised in profit or loss for the year.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Employee benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is received.

The obligations for contributions to defined contribution pension schemes are recognised as an expense in the period they are incurred. Amounts not paid at the balance sheet date are included in other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 21 ) .

4. TANGIBLE ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 549,136 255,036 804,172
Additions - 8,715 8,715
At 31 October 2024 549,136 263,751 812,887
DEPRECIATION
At 1 November 2023 124,905 115,324 240,229
Charge for year 10,983 31,157 42,140
At 31 October 2024 135,888 146,481 282,369
NET BOOK VALUE
At 31 October 2024 413,248 117,270 530,518
At 31 October 2023 424,231 139,712 563,943

GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 144,384
DEPRECIATION
At 1 November 2023 24,114
Charge for year 21,785
At 31 October 2024 45,899
NET BOOK VALUE
At 31 October 2024 98,485
At 31 October 2023 120,270

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 4,013,182 3,330,315
Other debtors 157,642 127,036
4,170,824 3,457,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 1,342,305 809,250
Hire purchase contracts and finance leases (see note 8)
17,684

17,684
Trade creditors 1,298,353 978,982
Taxation and social security 157,539 182,169
Other creditors 331,625 471,123
3,147,506 2,459,208

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 239,749 248,699
Hire purchase contracts and finance leases (see note 8)
53,028

70,709
292,777 319,408

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 206,677 215,627

GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Net obligations repayable:
Within one year 8,979 8,979 8,705 8,705
Between one and five years 10,475 19,453 42,553 51,256
19,454 28,432 51,258 59,961

Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 2,952 2,952
Between one and five years 2,213 5,165
5,165 8,117

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank overdrafts 100,097 138,605
Bank loans 1,481,957 919,344
Hire purchase contracts and finance leases 70,712 88,393
1,652,766 1,146,342

A debenture comprising fixed and floating charges over all the assets and undertakings of the company has been given; together with a first legal mortgage over the freehold property. Hire purchase contracts are secured on the assets to which they relate in note 5.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary A 0.01 1 1
400 Ordinary B 0.01 4 4
200 Ordinary C 0.01 2 2
7 7

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr Jeremy Laurence Hyde FCCA (Senior Statutory Auditor)
for and on behalf of CG LEE Limited

12. PENSION COMMITMENTS

Other creditors includes Pension Commitments of £4,521 (2023 - £3,855).

GRAYFORD INDUSTRIAL LIMITED (REGISTERED NUMBER: 04085062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

13. RELATED PARTY DISCLOSURES

During the year, the company made purchases of £16,373 (2023 - £nil) from Enixus Apparel UK Limited and, at the year end, the company owed £15,000 (2023 - £nil) to Enixus Apparel UK Limited. The company is related by virtue of having a common director, Mr J P Welby, and having a director who is the wife of Mr I E Gray.