Grey Wolf Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05274934 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2019

for

Grey Wolf Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms H E Sinclair

REGISTERED OFFICE:

Eldo House

Kempson Way

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

05274934 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

26,873

32,159

Investments

5

1,000

1,000

27,873

33,159

CURRENT ASSETS

Debtors

6

655,525

207,968

Cash at bank

45,873

624,547

701,398

832,515

CREDITORS

Amounts falling due within one year

7

26,695

188,511

NET CURRENT ASSETS

674,703

644,004

TOTAL ASSETS LESS CURRENT LIABILITIES

702,576

677,163

CREDITORS

Amounts falling due after more than one year

8

23,517

27,045

NET ASSETS

679,059

650,118

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

679,057

650,116

SHAREHOLDERS' FUNDS

679,059

650,118

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 27 April 2020 and were signed by:

Ms H E Sinclair - Director

1.	STATUTORY INFORMATION

Grey Wolf 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

Straight line over 4 years

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated

depreciation and impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

All of the company's financial instruments are considered to be basic. Basic financial instruments are recognised at

amortised cost.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an

indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and

its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower,

the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is

recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2018

40,199

Additions

1,196

At 30 November 2019

41,395

DEPRECIATION

At 1 December 2018

8,040

Charge for year

6,482

At 30 November 2019

14,522

NET BOOK VALUE

At 30 November 2019

26,873

At 30 November 2018

32,159

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 December 2018

and 30 November 2019

40,199

DEPRECIATION

At 1 December 2018

8,040

Charge for year

6,432

At 30 November 2019

14,472

NET BOOK VALUE

At 30 November 2019

25,727

At 30 November 2018

32,159

5.	FIXED ASSET INVESTMENTS

The company's investments at the balance sheet date in the share capital of its subsidiary are as follows:

Grey Wolf Capital Ltd

Registered office: Eldo House, Kempson Way, Suffolk Business Park, Bury St Edmunds, Suffolk, IP32 7AR

Class of share: Ordinary

Holding: 100.00%

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

2,500

Other debtors

655,525

205,468

655,525

207,968

Included within debtors is a balance due from the Director. Interest has been charged.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

5,546

6,795

Trade creditors

566

1,988

Taxation and social security

12,873

177,986

Other creditors

7,710

1,742

26,695

188,511

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

23,517

27,045

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

29,063

-

The hire purchase loan is secured over the asset financed.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

1

1

1

1

Ordinary "B"

1

1

1

2

2

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2019 and

30 November 2018:

2019

2018

£

£

Ms H E Sinclair

Balance outstanding at start of year

(744

)

(744

)

Amounts advanced

479,211

-

Amounts repaid

(40,748

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

437,719

(744

)