Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 11,305 | 15,329 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 5,593 | 8,362 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current liabilities | (22,859) | (11,853) | ||
| Total assets less current liabilities | (11,554) | 3,476 | ||
| Provision for liabilities | (
|
(
|
||
| Net (liabilities)/assets | (
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 6 |
|
|
|
| Profit and loss account | (
|
|
||
| Total shareholders' (deficit)/funds | (
|
|
Directors' responsibilities:
The financial statements of Greydells Ltd (registered number:
|
Dr J Fitzpatrick
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Greydells Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Greydells Road, Stevenage, SG1 3NL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The Company places reliance on the directors continuing support given the net liability position. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover for the postage and printing of gifts is stated net of VAT and is recognised as the goods are posted.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Plant and machinery |
|
| Vehicles |
|
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Plant and machinery | Vehicles | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 December 2023 |
|
|
|
||
| Disposals | (
|
|
(
|
||
| At 30 November 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 December 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| Disposals | (
|
|
(
|
||
| At 30 November 2024 |
|
|
|
||
| Net book value | |||||
| At 30 November 2024 | 0 | 11,305 | 11,305 | ||
| At 30 November 2023 | 255 | 15,074 | 15,329 |
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors |
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Taxation and social security |
|
|
|
| Obligations under finance leases and hire purchase contracts |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
| 100 | 100 |
Other related party transactions
| 2024 | 2023 | ||
| £ | £ | ||
| Directors Loan Account | 0 | 4,450 |
During the year the Company operated a loan account with the Directors. The Directors were advanced £2,307, of which £6757 was repaid. The balance at the end of the year was £0 (2023: £4,450). All amounts are repayable on demand and interest has been charged when appropriate.