Grey and White Industries Ltd - Filleted accounts

Registered number

12351230

Grey and White Industries Ltd

Filleted Accounts

31 December 2024

Grey and White Industries Ltd
Registered number:		12351230
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets			796			995

Current assets
Stocks		44,270			47,140
Debtors	3	45,149			63,982
Cash at bank and in hand		7,495			47,018
		96,914			158,140

Creditors: amounts falling due within one year	4	(10,605)			(10,716)

Net current assets			86,309			147,424

Total assets less current liabilities			87,105			148,419

Creditors: amounts falling due after more than one year	5		(89,036)			(144,381)



Net (liabilities)/assets			(1,931)			4,038

Capital and reserves
Called up share capital			1			1
Profit and loss account			(1,932)			4,037

Shareholders' funds			(1,931)			4,038

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Rayees Ahmed Manzoor Abdul Khadar
Director
Approved by the board on 31 December 2025

Grey and White Industries Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	3		3


3	Debtors	2024		2023
£			£

	Trade debtors	35,144		56,133
	Other debtors	10,005		7,849
		45,149		63,982


4	Creditors: amounts falling due within one year	2024		2023
£			£

	Bank loans and overdrafts	4,958		5,522
	Taxation and social security costs	2,236		1,783
	Other creditors	3,411		3,411
		10,605		10,716


5	Creditors: amounts falling due after one year	2024		2023
£			£

	Bank loans	29,116		31,781
	Other creditors	59,920		112,600
		89,036		144,381




6	Related party transactions

	The company was under the control of Mr Rayees Ahmed Manzoor Abdul Khadar throughout the current. Mr Rayees Ahmed Manzoor Abdul Khadar is the managing director and 100 % shareholder.
	Other Creditors includes an amount of £112,600 owed to Mr Rayees Ahmed Manzoor Abdul Khadar, who is the director of the company.

7	Other information

	Grey and White Industries Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	J002 Jetta House
	15-16 West Field Lane
	London
	Middlesex
	HA3 9ED