Urban & Grey Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08849808 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Urban & Grey Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs Sally Anne Messervy

Mr Alfie Thomas Robertson-Millar

REGISTERED OFFICE:

Constable'S Boatyard Riverside Offices

5-9 Thames Street

Hampton

TW12 2EW

REGISTERED NUMBER:

08849808 (England and Wales)

FIXED ASSETS

Intangible assets

4

6,322

7,586

Tangible assets

5

1,560

1,526

7,882

9,112

CURRENT ASSETS

Stocks

86,038

55,655

Debtors

6

139,832

117,334

Cash at bank and in hand

866

15,748

226,736

188,737

CREDITORS

Amounts falling due within one year

7

131,563

174,994

NET CURRENT ASSETS

95,173

13,743

TOTAL ASSETS LESS CURRENT LIABILITIES

103,055

22,855

CREDITORS

Amounts falling due after more than one year

8

45,361

-

NET ASSETS

57,694

22,855

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

57,594

22,755

SHAREHOLDERS' FUNDS

57,694

22,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2020 and were signed on its behalf by:

Mr Alfie Thomas Robertson-Millar - Director

1.	STATUTORY INFORMATION

Urban & Grey Ltd is a private company, limited by shares , registered in England and Wales. The company's

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is

probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred

or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation

and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date

of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive

income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset

previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is

recognised in other comprehensive income to the extent of any previously recognised revaluation increase

accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation

gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises

of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in

bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and

cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over

its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

Reversals of impairment losses are also recognised in profit or loss.

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.

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

Contributions to defined contribution plans are recognised as an expense in the period in which the related

service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to

a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in

which the employees render the related service, the liability is measured on a discounted present value basis. The

unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being

estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is

impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an

individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset

belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates

cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition

date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the

combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

12,644

AMORTISATION

At 1 April 2019

5,058

Charge for year

1,264

At 31 March 2020

6,322

NET BOOK VALUE

At 31 March 2020

6,322

At 31 March 2019

7,586

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

27,479

Additions

2,080

At 31 March 2020

29,559

DEPRECIATION

At 1 April 2019

25,953

Charge for year

2,046

At 31 March 2020

27,999

NET BOOK VALUE

At 31 March 2020

1,560

At 31 March 2019

1,526

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

133,187

104,761

Other debtors

6,645

12,573

139,832

117,334

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

13,118

-

Trade creditors

28,419

53,596

Taxation and social security

37,813

26,444

Other creditors

52,213

94,954

131,563

174,994

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Other creditors

45,361

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and

31 March 2019:

31.3.20

31.3.19

£

£

Mrs Sally Anne Messervy

Balance outstanding at start of year

(664

)

(20,766

)

Amounts advanced

14,289

35,102

Amounts repaid

(13,656

)

(15,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(31

)

(664

)

Mr Alfie Thomas Robertson-Millar

Balance outstanding at start of year

3,550

(22,034

)

Amounts advanced

18,344

40,584

Amounts repaid

(21,956

)

(15,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(62

)

3,550