Will Graves Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06279518 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Will Graves Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M W Graves

Mrs J M Graves

REGISTERED OFFICE:

7 Manor Close

Clifton

Bedfordshire

SG17 5EJ

REGISTERED NUMBER:

06279518 (England and Wales)

ACCOUNTANTS:

D and E Accountancy Ltd

Tax Advisors and Accountants

2nd Floor, 2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,527

5,802

6,527

5,802

CURRENT ASSETS

Debtors

6

-

302

Cash at bank

8,109

14,251

8,109

14,553

CREDITORS

Amounts falling due within one year

7

7,570

19,128

NET CURRENT ASSETS/(LIABILITIES)

539

(4,575

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,066

1,227

PROVISIONS FOR LIABILITIES

8

965

1,102

NET ASSETS

6,101

125

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

6,100

124

SHAREHOLDERS' FUNDS

6,101

125

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

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

M W Graves - Director

1.	STATUTORY INFORMATION

Will Graves 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.

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 each asset over its estimated useful life.

Equipment

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

3,000

AMORTISATION

At 1 July 2020

and 30 June 2021

3,000

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	TANGIBLE FIXED ASSETS

Computer

Equipment

equipment

Totals

£

£

£

COST

At 1 July 2020

7,109

11,282

18,391

Additions

-

2,984

2,984

At 30 June 2021

7,109

14,266

21,375

DEPRECIATION

At 1 July 2020

3,462

9,127

12,589

Charge for year

547

1,712

2,259

At 30 June 2021

4,009

10,839

14,848

NET BOOK VALUE

At 30 June 2021

3,100

3,427

6,527

At 30 June 2020

3,647

2,155

5,802

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

-

302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

198

798

Taxation and social security

6,243

17,490

Other creditors

1,129

840

7,570

19,128

8.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

965

1,102

Deferred

tax

£

Balance at 1 July 2020

1,102

Credit to Income Statement during year

(137

)

Balance at 30 June 2021

965

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 July 2020

124

Profit for the year

27,476

Dividends

(21,500

)

At 30 June 2021

6,100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2021 and 30 June 2020:

30.6.21

30.6.20

£

£

M W Graves

Balance outstanding at start of year

302

-

Amounts advanced

-

302

Amounts repaid

(302

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

302