Bethan Gray Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07465218 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Bethan Gray Design Limited

Page

Chartered Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bethan Gray Design Limited for the year ended 31 March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bethan Gray Design Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bethan Gray Design Limited and state those matters that we have agreed to state to the Board of Directors of Bethan Gray Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bethan Gray Design Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bethan Gray Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bethan Gray Design Limited. You consider that Bethan Gray Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bethan Gray Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haggards Crowther Professional Services LLP

Chartered Accountants

2nd Floor, Heathmans House

19 Heathmans Road

London

SW6 4TJ

29 March 2022

FIXED ASSETS

Tangible assets

4

7,090

6,336

CURRENT ASSETS

Debtors

5

181,816

114,280

Cash at bank

364,684

240,532

546,500

354,812

CREDITORS

Amounts falling due within one year

6

113,613

101,786

NET CURRENT ASSETS

432,887

253,026

TOTAL ASSETS LESS CURRENT LIABILITIES

439,977

259,362

CREDITORS

Amounts falling due after more than one year

7

40,833

-

NET ASSETS

399,144

259,362

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

399,044

259,262

SHAREHOLDERS' FUNDS

399,144

259,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 29 March 2022 and were signed on its behalf by:

Mr M G Giorgione - Director

1.	STATUTORY INFORMATION

Bethan Gray Design Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is 2nd Floor, Heathmans House, 19 Heathmans Road, London, SW6 4TJ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable to the Micro-entities Regime.

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. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

Turnover

Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

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

-

20% on cost

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 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.

Pension costs and other post-retirement benefits

The company makes payments to a defined contribution pension scheme. Contributions payable to the 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 5 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

37,066

Additions

3,245

At 31 March 2021

40,311

DEPRECIATION

At 1 April 2020

30,730

Charge for year

2,491

At 31 March 2021

33,221

NET BOOK VALUE

At 31 March 2021

7,090

At 31 March 2020

6,336

5.

DEBTORS

31.3.21

31.3.20

£

£

Amounts falling due within one year:

Trade debtors

156,761

11,309

Other debtors

23,740

101,656

180,501

112,965

Amounts falling due after more than one year:

Other debtors

1,315

1,315

Aggregate amounts

181,816

114,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

9,167

-

Trade creditors

24,666

38,472

Taxation and social security

41,886

20,260

Other creditors

37,894

43,054

113,613

101,786

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

40,833

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

40,833

-

8.

RESERVES

Retained

earnings

£

At 1 April 2020

259,262

Profit for the year

244,782

Dividends

(105,000

)

At 31 March 2021

399,044

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan from the Company to the directors in the amount of £935 (2020: £16,987). The outstanding balance is unsecured, subject to interest at HMRC rates and payable on demand.