Grey Whippet Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10821667

Unaudited Financial Statements

for the Period 16 June 2017 to 30 June 2018

for

GREY WHIPPET LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Lovett

J Poole

J Hewitt

R Thompson

REGISTERED OFFICE:

Somerset House

Strand

London

WC2R 1LA

REGISTERED NUMBER:

10821667

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

2,817

CURRENT ASSETS

Debtors

5

140,952

Cash at bank

90,659

231,611

CREDITORS

Amounts falling due within one year

6

117,886

NET CURRENT ASSETS

113,725

TOTAL ASSETS LESS CURRENT LIABILITIES

116,542

PROVISIONS FOR LIABILITIES

535

NET ASSETS

116,007

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

116,006

SHAREHOLDERS' FUNDS

116,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 12 June 2019 and were signed on its behalf by:

J Poole - Director

1.	COMPANY INFORMATION

Grey Whippet Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods and services provided in the normal course of business, net of discounts, VAT and other

sales related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

4,397

At 30 June 2018

4,397

DEPRECIATION

Charge for period

1,580

At 30 June 2018

1,580

NET BOOK VALUE

At 30 June 2018

2,817

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

140,256

Prepayments

696

140,952

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

49,400

Tax

28,392

VAT

37,617

Directors' current accounts

277

Accruals

2,200

117,886

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2018

value (£):

£

53,684

A Ordinary shares

0.00001

0.54

23,158

B Ordinary shares

0.00001

0.23

23,158

C Ordinary shares

0.00001

0.23

1.00

The above allocation of shares has been represented on the balance as follows:

2018

£

Share capital

1.00

During the period 2 ordinary shares with a nominal value of £0.50 per share were allotted and then subdivided

and redesignated as 53,684 A ordinary shares with a nominal value of £0.00001 per share, 23,158 B ordinary

shares with a nominal value of £0.00001 per share and 23,158 C ordinary shares with a nominal value of

£0.00001 per share.