Registration number:
Gray & Sons Interior Shopfitting Limited
for the Period from 1 October 2019 to 31 March 2020
Gray & Sons Interior Shopfitting Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Gray & Sons Interior Shopfitting Limited
Company Information
Director |
Mr Lee Gray |
Registered office |
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Gray & Sons Interior Shopfitting Limited
(Registration number: 07620282)
Balance Sheet as at 31 March 2020
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2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Gray & Sons Interior Shopfitting Limited
Notes to the Financial Statements for the Period from 1 October 2019 to 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit and loss,except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Building |
reducing balance 10% |
Plant and machinery |
reducing balance 25% & 10% |
Office equipment |
reducing balance 33% |
Gray & Sons Interior Shopfitting Limited
Notes to the Financial Statements for the Period from 1 October 2019 to 31 March 2020
Motor vehicles |
reducing balance 25% |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Loss/profit before tax |
Arrived at after charging/(crediting)
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2019 |
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Depreciation expense |
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Gray & Sons Interior Shopfitting Limited
Notes to the Financial Statements for the Period from 1 October 2019 to 31 March 2020
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
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Cost or valuation |
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At 1 October 2019 |
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Disposals |
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At 31 March 2020 |
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Depreciation |
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At 1 October 2019 |
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Charge for the period |
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Eliminated on disposal |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 30 September 2019 |
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Total |
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Cost or valuation |
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At 1 October 2019 |
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Disposals |
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At 31 March 2020 |
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Depreciation |
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At 1 October 2019 |
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Charge for the period |
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Eliminated on disposal |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 30 September 2019 |
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Gray & Sons Interior Shopfitting Limited
Notes to the Financial Statements for the Period from 1 October 2019 to 31 March 2020
Debtors |
Note |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Due after one year |
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Other non-current financial liabilities |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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2 |
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2 |