GRAYLING MORTGAGE SOLUTIONS LIMITED


Directors	SPENCER, Jayne Nicola
	SPENCER, Jonathan Andrew


Registered Address	Newland House The Point
	Weaver Road
	Lincoln
	LN6 3QN


Registered Number	10438374 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,546		2,099
			1,546		2,099
Current assets
Debtors		7,093		12,326
Cash at bank and on hand		27,555		9,890
		34,648		22,216
Creditors amounts falling due within one year		(26,986)		(22,573)
Net current assets (liabilities)			7,662		(357)
Total assets less current liabilities			9,208		1,742
Provisions for liabilities			(330)		(319)
Net assets			8,878		1,423
Capital and reserves
Called up share capital			100		100
Profit and loss account			8,778		1,323
Shareholders' funds			8,878		1,423

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 10 September 2025, and are signed on its behalf by:

SPENCER, Jonathan Andrew
Director
Registered Company No. 10438374

GRAYLING MORTGAGE SOLUTIONS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. The financial statements have been prepared under the historical cost convention.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable excluding discounts and rebates.

	Deferred tax
	Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods.  It is recognised in respect of all timing differences, with certain exceptions.  Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.  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 balance sheet date that are expected to apply to the reversal of timing differences.  Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.  Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	15	-
Office Equipment	-	3

	Finance leases and hire purchase contracts
	Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

	Financial instruments
	Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: 

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. 

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	5,781
	Additions	124
	At 31 March 25	5,905
	Depreciation and impairment
	At 01 April 24	3,682
	Charge for year	677
	At 31 March 25	4,359
	Net book value
	At 31 March 25	1,546
	At 31 March 24	2,099

4.	Other commitments
	Minimum lease payments under non-cancellable operating leases falling due within one year are £1,470 (2024: £1,470).

5.	Related party transactions
	During the year dividends were paid to directors of £72,724 (2024: £63,119). Included within creditors at the end of the prior year was a directors loan account balance of £66. The loan was unsecured and interest free.