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REGISTERED NUMBER: 00371826 (England and Wales)















GREATREX LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






GREATREX LIMITED (REGISTERED NUMBER: 00371826)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREATREX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A B Greatrex
Mrs C F Greatrex
Miss E J Greatrex
F T A Greatrex





SECRETARY: M R Heenan





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 00371826 (England and Wales)

GREATREX LIMITED (REGISTERED NUMBER: 00371826)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,772 4,583
Investments 5 110,000 110,000
Investment property 6 4,271,985 4,311,520
4,385,757 4,426,103

CURRENT ASSETS
Debtors 7 86,045 78,590
Cash at bank 1,202,765 808,917
1,288,810 887,507
CREDITORS
Amounts falling due within one year 8 (145,165 ) (170,370 )
NET CURRENT ASSETS 1,143,645 717,137
TOTAL ASSETS LESS CURRENT LIABILITIES 5,529,402 5,143,240

PROVISIONS FOR LIABILITIES (10,361 ) (10,361 )
NET ASSETS 5,519,041 5,132,879

CAPITAL AND RESERVES
Called up share capital 9 3,508 3,508
Revaluation reserve 10 607,899 792,041
Capital redemption reserve 492 492
Retained earnings 4,907,142 4,336,838
SHAREHOLDERS' FUNDS 5,519,041 5,132,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

GREATREX LIMITED (REGISTERED NUMBER: 00371826)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





A B Greatrex - Director


GREATREX LIMITED (REGISTERED NUMBER: 00371826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Greatrex 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight-line basis over the lease term.

Other operating income
Other operating income represents management charges levied on lessees and are recognised in the period in which the services are provided.

Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Fixed assets investments
Fixed assets investments relate to works of art. The investment is measured at cost less impairment.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The investment properties are shown at fair value based on a valuation by the directors.


GREATREX LIMITED (REGISTERED NUMBER: 00371826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Deferred tax on revalued investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 18,950
DEPRECIATION
At 1 April 2022 14,367
Charge for year 811
At 31 March 2023 15,178
NET BOOK VALUE
At 31 March 2023 3,772
At 31 March 2022 4,583

GREATREX LIMITED (REGISTERED NUMBER: 00371826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 110,000
NET BOOK VALUE
At 31 March 2023 110,000
At 31 March 2022 110,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,311,520
Additions 310,465
Disposals (350,000 )
At 31 March 2023 4,271,985
NET BOOK VALUE
At 31 March 2023 4,271,985
At 31 March 2022 4,311,520

The historical cost of the investment property as at 31 March 2023 was £3,653,725 (2022 - £3,509,117).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 64,206 65,435
Other debtors 4,971 378
Social security and other tax 401 1,072
Prepayments 16,467 11,705
86,045 78,590

GREATREX LIMITED (REGISTERED NUMBER: 00371826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,755 5,668
Tax 35,630 43,056
VAT 11,633 16,433
Other creditors 13,725 6,385
Accrued expenses 67,422 98,828
145,165 170,370

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,508 Ordinary £1 3,508 3,508

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 792,041
Revaluation movement upon disposal (184,142 )

At 31 March 2023 607,899