Gray Matter Matters Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07393533 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2021

for

Gray Matter Matters Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P J Cox

M M McGinn

SECRETARY:

REGISTERED OFFICE:

30 Kestrel Court

Portishead

Bristol

BS20 7AN

REGISTERED NUMBER:

07393533 (England and Wales)

ACCOUNTANTS:

Harpers & Co

1st Floor

Premier House

127 Duckmoor Road

Bristol

BS3 2BJ

FIXED ASSETS

Tangible assets

4

9,564

10,952

CURRENT ASSETS

Stocks

650

650

Cash at bank

218,169

136,109

218,819

136,759

CREDITORS

Amounts falling due within one year

5

84,309

76,733

NET CURRENT ASSETS

134,510

60,026

TOTAL ASSETS LESS CURRENT LIABILITIES

144,074

70,978

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

144,072

70,976

SHAREHOLDERS' FUNDS

144,074

70,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 25 June 2022 and were signed on its behalf by:

M M McGinn - Director

1.	STATUTORY INFORMATION

Gray Matter Matters Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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

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 year was 6 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

39,110

Additions

1,800

At 30 September 2021

40,910

DEPRECIATION

At 1 October 2020

28,158

Charge for year

3,188

At 30 September 2021

31,346

NET BOOK VALUE

At 30 September 2021

9,564

At 30 September 2020

10,952

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

46,451

50,000

Taxation and social security

35,626

23,076

Other creditors

2,232

3,657

84,309

76,733

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 (2020 - £70,000) were paid to the directors .