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REGISTERED NUMBER: 02051062 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GRESHAM CONTRACTS LIMITED

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)






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


GRESHAM CONTRACTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M Glibbery





SECRETARY: Mrs A Glibbery





REGISTERED OFFICE: Walnut Tree House
Popham Close
Chilton Foliat
Hungerford
RG17 0TS





REGISTERED NUMBER: 02051062 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,618,272 1,180,146

CURRENT ASSETS
Developments in progress 1,120,387 1,120,387
Debtors 5 11,122 13,098
Cash at bank and in hand 164,997 78,794
1,296,506 1,212,279
CREDITORS
Amounts falling due within one year 6 650,920 625,017
NET CURRENT ASSETS 645,586 587,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,263,858

1,767,408

PROVISIONS FOR LIABILITIES 323,749 163,410
NET ASSETS 1,940,109 1,603,998

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 7 1,840,109 1,503,998
SHAREHOLDERS' FUNDS 1,940,109 1,603,998

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 director acknowledges his 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.

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 October 2023 and were signed by:





M Glibbery - Director


GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

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

1. STATUTORY INFORMATION

Gresham Contracts 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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance

Developments in progress
Developments in progress are valued at costs incurred, less foreseeable losses and payments on account. If completed developments are retained for investment purposes the full cost is then transferred to Tangible Fixed Assets.

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.

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

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

2. ACCOUNTING POLICIES - continued

Investment property
The investment properties are stated at open market valuation provided by the director.
No depreciation or amortisation is provided in respect of freehold investment properties.
This treatment is a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties being held for investment, the director considers that annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.
Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 1,158,644 23,960 19,000 1,201,604
Revaluations 441,356 - - 441,356
At 31 March 2023 1,600,000 23,960 19,000 1,642,960
DEPRECIATION
At 1 April 2022 - 19,678 1,780 21,458
Charge for year - 645 2,585 3,230
At 31 March 2023 - 20,323 4,365 24,688
NET BOOK VALUE
At 31 March 2023 1,600,000 3,637 14,635 1,618,272
At 31 March 2022 1,158,644 4,282 17,220 1,180,146

Cost or valuation at 31 March 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2000 98,093 - - 98,093
Valuation in 2015 619,809 - - 619,809
Valuation in 2016 17,450 - - 17,450
Valuation in 2017 75,000 - - 75,000
Valuation in 2018 25,000 - - 25,000
Valuation in 2023 441,356 - - 441,356
Cost 323,292 23,960 19,000 366,252
1,600,000 23,960 19,000 1,642,960

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

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

4. TANGIBLE FIXED ASSETS - continued

If the land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 323,292 323,292
Aggregate depreciation 161,296 155,102

Land and buildings were valued on an open market basis on 31 March 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,487 11,653
Prepayments and accrued income 1,635 1,445
11,122 13,098

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,608 5,739
Corporation tax 30,645 24,135
Social security and other taxes 6,274 5,728
Other creditors 582,719 559,541
Accrued expenses 28,674 29,874
650,920 625,017

7. RESERVES
Retained
earnings
£   

At 1 April 2022 1,503,998
Profit for the year 396,111
Dividends (60,000 )
At 31 March 2023 1,840,109

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2022 - £30,000) were paid to the director .

During the year the director charged the company £1,000 interest at commercial rates in respect of his loan.

GRESHAM CONTRACTS LIMITED (REGISTERED NUMBER: 02051062)

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

9. ULTIMATE CONTROLLING PARTY

The company is controlled by M R Glibbery and Mrs A T Glibbery who together own all of the issued share capital.