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REGISTERED NUMBER: 08792948 (England and Wales)









Financial Statements

for the Year Ended 30 March 2023

for

Re-Creo (Grays Inn Road) Ltd

Re-Creo (Grays Inn Road) Ltd (Registered number: 08792948)






Contents of the Financial Statements
for the Year Ended 30 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Re-Creo (Grays Inn Road) Ltd

Company Information
for the Year Ended 30 March 2023







DIRECTOR: P Whitley





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 08792948 (England and Wales)






Re-Creo (Grays Inn Road) Ltd (Registered number: 08792948)

Statement of Financial Position
30 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,000,099 1,000,099

CURRENT ASSETS
Debtors 5 622 209,023

CREDITORS
Amounts falling due within one year 6 (721,836 ) (1,023,140 )
NET CURRENT LIABILITIES (721,214 ) (814,117 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,885

185,982

CREDITORS
Amounts falling due after more than one
year

7

(588,644

)

(611,924

)

PROVISIONS FOR LIABILITIES (1,873 ) (1,873 )
NET LIABILITIES (311,632 ) (427,815 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (311,732 ) (427,915 )
(311,632 ) (427,815 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 March 2024 and were signed by:





P Whitley - Director


Re-Creo (Grays Inn Road) Ltd (Registered number: 08792948)

Notes to the Financial Statements
for the Year Ended 30 March 2023

1. STATUTORY INFORMATION

Re-Creo (Grays Inn Road) Ltd 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
These financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support of the director and third party creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022
and 30 March 2023 1,000,099
NET BOOK VALUE
At 30 March 2023 1,000,099
At 30 March 2022 1,000,099

Re-Creo (Grays Inn Road) Ltd (Registered number: 08792948)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 March 2023 is represented by:
£   
Valuation in 2021 9,855
Valuation in 2022 99
Cost 990,145
1,000,099

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 990,145 990,145

The fair value of the investment property was made at 30 March 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 102 200,102
Other debtors 520 8,921
622 209,023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 327
Amounts owed to group undertakings 318,354 612,709
Other creditors 403,482 410,104
721,836 1,023,140

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 588,644 611,924

8. SECURED DEBTS

Other creditors due in more than one year includes a loan of £588,644 (2022: £613,046 other creditors due within one year and more than one year) which is secured by way of a first charge and further legal charge over the freehold interest, a legal debenture over the assets of the company for the amount of the facility and by a personal guarantee from the director P Whitley.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in creditors at the year end is an amount of £303,482 (2022: £303,482) due to the director P Whitley. This amount has been provided unsecured, interest free and is effectively repayable on demand.