Company Registration No. 07882495 (England and Wales)
GraySkull Ltd
Unaudited accounts
for the year ended 29 December 2024
GraySkull Ltd
Unaudited accounts
Contents
GraySkull Ltd
Company Information
for the year ended 29 December 2024
Directors
Mrs Manjari Patel
Mr Kunal Patel
Company Number
07882495 (England and Wales)
Registered Office
94 Wroxham Gardens
Potters Bar
Hertfordshire
EN6 3DL
United Kingdom
Accountants
Cloud Tax Ltd
9-11 New Broadway
Ealing
London
W5 5AW
GraySkull Ltd
Statement of financial position
as at 29 December 2024
Tangible assets
76,371
84,856
Inventories
820,319
659,700
Cash at bank and in hand
311,577
335,718
Creditors: amounts falling due within one year
(974,365)
(651,352)
Net current assets
288,179
363,142
Total assets less current liabilities
364,550
447,998
Creditors: amounts falling due after more than one year
(305,786)
(378,709)
Called up share capital
100
100
Profit and loss account
58,664
69,189
Shareholders' funds
58,764
69,289
For the year ending 29 December 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2025 and were signed on its behalf by
Mrs Manjari Patel
Director
Company Registration No. 07882495
GraySkull Ltd
Notes to the Accounts
for the year ended 29 December 2024
GraySkull Ltd is a private company, limited by shares, registered in England and Wales, registration number 07882495. The registered office is 94 Wroxham Gardens, Potters Bar, Hertfordshire, EN6 3DL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
10% reducing balance
Fixtures & fittings
10% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 30 December 2023
140,138
10,874
151,012
At 29 December 2024
140,138
10,874
151,012
At 30 December 2023
58,558
7,598
66,156
Charge for the year
8,158
327
8,485
At 29 December 2024
66,716
7,925
74,641
At 29 December 2024
73,422
2,949
76,371
At 29 December 2023
81,580
3,276
84,856
GraySkull Ltd
Notes to the Accounts
for the year ended 29 December 2024
Amounts falling due within one year
Accrued income and prepayments
74,621
-
Other debtors
56,027
19,076
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
260,956
250,827
Taxes and social security
27,175
28,451
Other creditors
334,078
190,620
Loans from directors
152,742
36,348
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
271,677
326,221
Obligations under finance leases and hire purchase contracts
34,109
52,488
Allotted, called up and fully paid:
85 Ordinary A shares of £1 each
85
85
5 Ordinary B shares of £1 each
5
5
5 Ordinary C shares of £1 each
5
5
5 Ordinary D shares of £1 each
5
5
9
Transactions with related parties
As at balance sheet date included in Loans from Directors are the amount due to director of £152,742 (2023 : £36,348).
10
Average number of employees
During the year the average number of employees was 89 (2023: 66).