The Gray Circle Limited

THE GRAY CIRCLE LIMITED - Company Information

2022-08-012023-07-312023-07-31false05458059The Gray Circle Limited2023-09-18iso4217:GBPxbrli:pure054580592022-08-01054580592023-07-31054580592022-08-012023-07-31054580592021-08-01054580592022-07-31054580592021-08-012022-07-3105458059bus:SmallEntities2022-08-012023-07-3105458059bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3105458059bus:FullAccounts2022-08-012023-07-3105458059bus:PrivateLimitedCompanyLtd2022-08-012023-07-3105458059core:WithinOneYear2023-07-3105458059core:AfterOneYear2023-07-3105458059core:WithinOneYear2022-07-3105458059core:AfterOneYear2022-07-3105458059core:ShareCapital2023-07-3105458059core:SharePremium2023-07-3105458059core:RevaluationReserve2023-07-3105458059core:OtherReservesSubtotal2023-07-3105458059core:RetainedEarningsAccumulatedLosses2023-07-3105458059core:ShareCapital2022-07-3105458059core:SharePremium2022-07-3105458059core:RevaluationReserve2022-07-3105458059core:OtherReservesSubtotal2022-07-3105458059core:RetainedEarningsAccumulatedLosses2022-07-3105458059core:LandBuildings2023-07-3105458059core:PlantMachinery2023-07-3105458059core:Vehicles2023-07-3105458059core:FurnitureFittings2023-07-3105458059core:OfficeEquipment2023-07-3105458059core:NetGoodwill2023-07-3105458059core:IntangibleAssetsOtherThanGoodwill2023-07-3105458059core:ListedExchangeTraded2023-07-3105458059core:UnlistedNon-exchangeTraded2023-07-3105458059core:LandBuildings2022-07-3105458059core:PlantMachinery2022-07-3105458059core:Vehicles2022-07-3105458059core:FurnitureFittings2022-07-3105458059core:OfficeEquipment2022-07-3105458059core:NetGoodwill2022-07-3105458059core:IntangibleAssetsOtherThanGoodwill2022-07-3105458059core:ListedExchangeTraded2022-07-3105458059core:UnlistedNon-exchangeTraded2022-07-3105458059core:LandBuildings2022-08-012023-07-3105458059core:PlantMachinery2022-08-012023-07-3105458059core:Vehicles2022-08-012023-07-3105458059core:FurnitureFittings2022-08-012023-07-3105458059core:OfficeEquipment2022-08-012023-07-3105458059core:NetGoodwill2022-08-012023-07-3105458059core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105458059core:ListedExchangeTraded2022-08-012023-07-3105458059core:UnlistedNon-exchangeTraded2022-08-012023-07-3105458059core:MoreThanFiveYears2022-08-012023-07-3105458059core:Non-currentFinancialInstruments2023-07-3105458059core:Non-currentFinancialInstruments2022-07-3105458059dpl:CostSales2022-08-012023-07-3105458059dpl:DistributionCosts2022-08-012023-07-3105458059dpl:AdministrativeExpenses2022-08-012023-07-3105458059core:LandBuildings2022-08-012023-07-3105458059core:PlantMachinery2022-08-012023-07-3105458059core:Vehicles2022-08-012023-07-3105458059core:FurnitureFittings2022-08-012023-07-3105458059core:OfficeEquipment2022-08-012023-07-3105458059core:NetGoodwill2022-08-012023-07-3105458059core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105458059dpl:GroupUndertakings2022-08-012023-07-3105458059dpl:ParticipatingInterests2022-08-012023-07-3105458059dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3105458059core:ListedExchangeTraded2022-08-012023-07-3105458059dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3105458059core:UnlistedNon-exchangeTraded2022-08-012023-07-3105458059dpl:CostSales2021-08-012022-07-3105458059dpl:DistributionCosts2021-08-012022-07-3105458059dpl:AdministrativeExpenses2021-08-012022-07-3105458059core:LandBuildings2021-08-012022-07-3105458059core:PlantMachinery2021-08-012022-07-3105458059core:Vehicles2021-08-012022-07-3105458059core:FurnitureFittings2021-08-012022-07-3105458059core:OfficeEquipment2021-08-012022-07-3105458059core:NetGoodwill2021-08-012022-07-3105458059core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3105458059dpl:GroupUndertakings2021-08-012022-07-3105458059dpl:ParticipatingInterests2021-08-012022-07-3105458059dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3105458059core:ListedExchangeTraded2021-08-012022-07-3105458059dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3105458059core:UnlistedNon-exchangeTraded2021-08-012022-07-3105458059core:NetGoodwill2023-07-3105458059core:IntangibleAssetsOtherThanGoodwill2023-07-3105458059core:LandBuildings2023-07-3105458059core:PlantMachinery2023-07-3105458059core:Vehicles2023-07-3105458059core:FurnitureFittings2023-07-3105458059core:OfficeEquipment2023-07-3105458059core:AfterOneYear2023-07-3105458059core:WithinOneYear2023-07-3105458059core:ListedExchangeTraded2023-07-3105458059core:UnlistedNon-exchangeTraded2023-07-3105458059core:ShareCapital2023-07-3105458059core:SharePremium2023-07-3105458059core:RevaluationReserve2023-07-3105458059core:OtherReservesSubtotal2023-07-3105458059core:RetainedEarningsAccumulatedLosses2023-07-3105458059core:NetGoodwill2022-07-3105458059core:IntangibleAssetsOtherThanGoodwill2022-07-3105458059core:LandBuildings2022-07-3105458059core:PlantMachinery2022-07-3105458059core:Vehicles2022-07-3105458059core:FurnitureFittings2022-07-3105458059core:OfficeEquipment2022-07-3105458059core:AfterOneYear2022-07-3105458059core:WithinOneYear2022-07-3105458059core:ListedExch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Registered Number
05458059
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

The Gray Circle Limited

Company Information
for the year from 1 August 2022 to 31 July 2023


Director	Thomas Dale Gray


Registered Address	25 Badgers Way Badgers Way
	Buckingham
	MK18 7EG


Registered Number	05458059 (England and Wales)

The Gray Circle Limited

Balance Sheet as at
31 July 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	6		10,000		15,000
Tangible assets	7		1,066		2,722
			11,066		17,722
Current assets
Debtors		-		8,600
Cash at bank and on hand		2,786		6,074
		2,786		14,674
Creditors amounts falling due within one year	9	(1,955)		(11,515)
Net current assets (liabilities)			831		3,159
Total assets less current liabilities			11,897		20,881
Creditors amounts falling due after one year	10		(76,250)		(82,250)
Provisions for liabilities	11		(202)		(517)
Net assets			(64,555)		(61,886)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(64,655)		(61,986)
Shareholders' funds			(64,555)		(61,886)

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 18 September 2023, and are signed on its behalf by:

Thomas Dale Gray
Director
Registered Company No. 05458059

The Gray Circle Limited

Notes to the Financial Statements
for the year ended 31 July 2023

1.	Statutory information
	The Gray Circle Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company in the year under review was that of video and animation production.

4.	Accounting policies

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery 33% on cost Computer equipment 33% on cost

	Intangible assets policy
	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. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Going concern
	The director has confirmed that he will continue to give financial support to the company until such time as its position improves. In addition, the director has confirmed that they will not recall their loans within 12 months. The director considers that it is appropriate to prepare the financial statements on a going concern basis.

5.	Employee information


		2023		2022
	Average number of employees during the year	1		1

6.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 August 22	100,000	100,000
At 31 July 23	100,000	100,000
Amortisation and impairment
At 01 August 22	85,000	85,000
Charge for year	5,000	5,000
At 31 July 23	90,000	90,000
Net book value
At 31 July 23	10,000	10,000
At 31 July 22	15,000	15,000

7.	Property, plant and equipment

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 August 22	5,671	64,152	69,823
At 31 July 23	5,671	64,152	69,823
Depreciation and impairment
At 01 August 22	5,041	62,060	67,101
Charge for year	563	1,093	1,656
At 31 July 23	5,604	63,153	68,757
Net book value
At 31 July 23	67	999	1,066
At 31 July 22	630	2,092	2,722

8.	Debtors within one year

	2023	2022
	£	£
Trade debtors / trade receivables	-	8,600
Total	-	8,600


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

9.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	235	904
Amounts owed to related parties	679	9,035
Taxation and social security	861	1,576
Accrued liabilities and deferred income	180	-
Total	1,955	11,515


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

10.	Creditors after one year

	2023	2022
	£	£
Amounts owed to related parties	76,250	82,250
Total	76,250	82,250

11.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	202	517
Total	202	517