Grace & Concept Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10100413

Grace & Concept Ltd

Filleted Unaudited Financial Statements

31 March 2025

Grace & Concept Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Current assets

Debtors	5	16,300	29,821
Cash at bank and in hand		73,582	57,795
		--------	--------
		89,882	87,616

Creditors: amounts falling due within one year	6	10,845	4,723
		--------	--------
Net current assets		79,037	82,893
		--------	--------
Total assets less current liabilities		79,037	82,893
		--------	--------
Net assets		79,037	82,893
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	79,036	82,892
	--------	--------
Shareholder funds	79,037	82,893
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

Mr A S Fleming
Director

Company registration number: 10100413

Grace & Concept Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bridge Street, Newport, NP20 4SF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The numbers are rounded to the nearest whole pound.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102 (new line) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Tangible Assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Individual items of a value less than £500 are not capitalised.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Debtors

	2025	2024
	£	£
Trade debtors	1,863	3,448
Other debtors	14,437	26,373
	--------	--------
	16,300	29,821
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	7,584	2,554
Other creditors	3,261	2,169
	--------	-------
	10,845	4,723
	--------	-------

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A S Fleming	( 344)	( 1,927)	–	( 2,271)
	----	-------	----	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A S Fleming	( 2,344)	–	2,000	( 344)
	-------	----	-------	----

8. Related party transactions

The company was under the control of Mr A S Fleming throughout the current and previous year. Mr A S Fleming is the managing director and majority shareholder. During the year the company paid dividends of nil (2024: nil) to the director. As at 31 March 2025 the company owed the director £2,271 (2024: £344).