General Information
Grays Essex Limited is a private company, limited by shares, registered in England and Wales, registration number 09779420, registration address Art House, St Peters Road, Maidenhead, Berkshire, SL6 7QU
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles |
3 Straight Line
|
Fixtures and Fittings |
3 Straight Line
|
Computer Equipment |
3 Straight Line
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
|
2. |
Average number of employees
Average number of employees during the year was 1 (2019 : 0).
|
3. |
Tangible fixed assets
Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
|
£ |
|
£ |
|
£ |
|
£ |
At 01 October 2019 |
378,381 |
|
600 |
|
5,187 |
|
384,168 |
Additions |
86,570 |
|
- |
|
- |
|
86,570 |
Disposals |
- |
|
- |
|
- |
|
- |
At 30 September 2020 |
464,951 |
|
600 |
|
5,187 |
|
470,738 |
Depreciation |
At 01 October 2019 |
203,823 |
|
517 |
|
3,789 |
|
208,129 |
Charge for year |
94,722 |
|
83 |
|
611 |
|
95,416 |
On disposals |
- |
|
- |
|
- |
|
- |
At 30 September 2020 |
298,545 |
|
600 |
|
4,400 |
|
303,545 |
Net book values |
Closing balance as at 30 September 2020 |
166,406 |
|
- |
|
787 |
|
167,193 |
Opening balance as at 01 October 2019 |
174,558 |
|
83 |
|
1,398 |
|
176,039 |
|
4. |
Share Capital
Authorised
1,000 Class A shares of £1.00 each
Allotted, called up and fully paid
|
2020 £ |
|
2019 £ |
1,000
Class A shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
2
|