Company No: 04667464 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	E Faulkner
	V Hambleton Grey

SECRETARY

K Hambleton Grey

REGISTERED OFFICE	Langtry House
	441 Richmond House
	East Twickenham
	United Kingdom

COMPANY NUMBER

04667464 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	31,727		100,162
		31,727		100,162
Current assets
Debtors	5	321,830		414,523
Cash at bank and in hand		17,284		394
		339,114		414,917
Creditors: amounts falling due within one year	6	( 176,860)		( 271,132)
Net current assets		162,254		143,785
Total assets less current liabilities		193,981		243,947
Provision for liabilities	7	( 1,189)		0
Net assets		192,792		243,947
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		192,692		243,847
Total shareholder's funds		192,792		243,947

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Baron Grey Limited (registered number: 04667464) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

V Hambleton Grey Director

1. Accounting policies

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.

General information and basis of accounting

Baron Grey Limited (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 Langtry House, 441 Richmond House, East Twickenham, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 rounded to the nearest £.

Going concern

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. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that is probable will be recovered.

Employee benefits

Short term benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill, being the amount paid in connection with the acquisition of a business in 2003 and had been written down to £nil by 2015.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	20 % reducing balance
Plant and machinery	5 years straight line
Office equipment	15 % reducing balance
Computer equipment	50 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	460,640		460,640
At 31 December 2024	460,640		460,640
Accumulated amortisation
At 01 January 2024	460,640		460,640
At 31 December 2024	460,640		460,640
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	167,120		6,206		26,541		48,797		248,664
Additions	0		0		357		3,587		3,944
Disposals	( 113,900)		0		0		0		( 113,900)
At 31 December 2024	53,220		6,206		26,898		52,384		138,708
Accumulated depreciation
At 01 January 2024	83,560		6,145		14,309		44,488		148,502
Charge for the financial year	10,644		12		1,870		2,903		15,429
Disposals	( 56,950)		0		0		0		( 56,950)
At 31 December 2024	37,254		6,157		16,179		47,391		106,981
Net book value
At 31 December 2024	15,966		49		10,719		4,993		31,727
At 31 December 2023	83,560		61		12,232		4,309		100,162

5. Debtors

	2024		2023
	£		£
Trade debtors	144,535		200,950
Amounts owed by directors	0		12,989
Amounts recoverable on contracts	150,370		187,086
Prepayments	26,925		11,800
Deferred tax asset	0		1,698
	321,830		414,523

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	0		5,134
Trade creditors	24,720		57,120
Amounts owed to directors	22		0
Other loans	22,921		81,718
Accruals	12,585		11,985
Corporation tax	0		27,713
Other taxation and social security	92,268		64,789
Other creditors	24,344		22,673
	176,860		271,132

On the 17 July 2013, NatWest Bank registered a fixed and floating charge over the assets of the company.

Within other creditors are loans of £86,597 (2023: £81,718) which are repayable monthly from 31 January 2024. £61,559 (2023: £50,792) is interest free and £25,038 (2023: £30,926) is accruing interest monthly at 4% per annum.

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	1,698		( 6,574)
(Charged)/credited to the Profit and Loss Account	( 2,887)		8,272
At the end of financial year	( 1,189)		1,698

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary £1 shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating leases	25,000		25,000

10. Related party transactions

Transactions with the entity's directors

At 31 December 2024, the company owed a director £22 (2023: £12,989 owed by director). This amount is included within other creditors, is interest free and repayable on demand.