Fletcher Gray Limited

Fletcher Gray Limited

FLETCHER GRAY LIMITED - Company Information

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Company Registration No. 03838666 (England and Wales)
Fletcher Gray Limited Unaudited accounts for the year ended 31 December 2021
Fletcher Gray Limited Unaudited accounts Contents
Page
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Fletcher Gray Limited Company Information for the year ended 31 December 2021
Directors
Mr H G H Webb Mrs J L Webb
Secretary
Mrs J L Webb
Company Number
03838666 (England and Wales)
Registered Office
Albany House Claremont Lane Esher Surrey KT10 9FQ
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Fletcher Gray Limited Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
20,064 
8,970 
Current assets
Debtors
5
- 
2,920 
Cash at bank and in hand
114,612 
136,722 
114,612 
139,642 
Creditors: amounts falling due within one year
6
(21,285)
(9,320)
Net current assets
93,327 
130,322 
Net assets
113,391 
139,292 
Capital and reserves
Called up share capital
7
100 
100 
Profit and loss account
113,291 
139,192 
Shareholders' funds
113,391 
139,292 
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2022 and were signed on its behalf by
Mr H G H Webb Director Company Registration No. 03838666
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Fletcher Gray Limited Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Fletcher Gray Limited is a private company, limited by shares, registered in England and Wales, registration number 03838666. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The accounts have been prepared in accordance with the provisions of FRS102. There were no material departures from that standard. The following principal accounting policies have been applied:
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Interest income
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
Finance costs
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Fletcher Gray Limited Notes to the Accounts for the year ended 31 December 2021
Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Taxation
Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
Plant & machinery
33% straight line
Motor vehicles
25% straight line
Computer equipment
33.33% straight line
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Fletcher Gray Limited Notes to the Accounts for the year ended 31 December 2021
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Government grants
During the year the Company received HMRC JRS Grants of £22,681 (2019 - £NIL) and this amount is presented in other income
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2021
18,884 
30,482 
952 
50,318 
Additions
1,187 
- 
20,597 
21,784 
At 31 December 2021
20,071 
30,482 
21,549 
72,102 
Depreciation
At 1 January 2021
18,763 
22,373 
212 
41,348 
Charge for the year
197 
7,022 
3,471 
10,690 
At 31 December 2021
18,960 
29,395 
3,683 
52,038 
Net book value
At 31 December 2021
1,111 
1,087 
17,866 
20,064 
At 31 December 2020
121 
8,109 
740 
8,970 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other debtors
- 
2,920 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
1,162 
3,505 
Taxes and social security
6,896 
2,710 
Other creditors
3 
3 
Loans from directors
2,068 
1,444 
Accruals
2,658 
1,658 
Deferred income
8,498 
- 
21,285 
9,320 
7
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Fletcher Gray Limited Notes to the Accounts for the year ended 31 December 2021
8
Transactions with related parties
Dividends totalling £20,000 (2020 - £14,000) were paid in the year in respect of shares held by the Directors.
9
Average number of employees
During the year the average number of employees was 5 (2020: 5).
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