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GREYS PROPERTY LTD.

Unaudited Financial Statements

for the Year Ended 30 November 2023






GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

GREYS PROPERTY LTD.

Company Information
for the Year Ended 30 November 2023







DIRECTORS: C A Bennett
K L Johnson



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 12055637 (England and Wales)



ACCOUNTANTS: Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: Lloyds Bank Plc
1 Westgate
Huddersfield
West Yorkshire
HD1 2DN

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 955,502 962,458

CURRENT ASSETS
Debtors 5 9,000 -
Cash at bank and in hand 3,010 3,880
12,010 3,880
CREDITORS
Amounts falling due within one year 6 541,696 533,363
NET CURRENT LIABILITIES (529,686 ) (529,483 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,816

432,975

CREDITORS
Amounts falling due after more than one
year

7

374,454

399,777
NET ASSETS 51,362 33,198

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings 10 50,962 32,798
SHAREHOLDERS' FUNDS 51,362 33,198

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

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

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 Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:




K L Johnson - Director


GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

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


1. STATUTORY INFORMATION

Greys Property 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.

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.

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 - 15% on reducing balance
Computer equipment - 33% on 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.

3. EMPLOYEES AND DIRECTORS

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

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 661,710 115,248 192,726 800 970,484
DEPRECIATION
At 1 December 2022 - - 7,227 799 8,026
Charge for year - - 6,956 - 6,956
At 30 November 2023 - - 14,183 799 14,982
NET BOOK VALUE
At 30 November 2023 661,710 115,248 178,543 1 955,502
At 30 November 2022 661,710 115,248 185,499 1 962,458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 9,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 8) 44,685 44,685
Greys Artstone Ltd 441,564 441,564
VAT 3,637 3,730
Directors' loan accounts 44,317 36,720
Accrued expenses 7,493 6,664
541,696 533,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 8) 374,454 399,777

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 357,288 372,628

8. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 44,685 44,685

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

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


8. LOANS - continued
30.11.23 30.11.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,166 27,149

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 357,288 372,628

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
200 Ordinary Share A £1 200 200
200 Ordinary Share B £1 200 200
400 400

10. RESERVES
Retained
earnings
£   

At 1 December 2022 32,798
Profit for the year 18,164
At 30 November 2023 50,962

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Greys Property Ltd.


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greys Property Ltd. for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Greys Property Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greys Property Ltd. and state those matters that we have agreed to state to the Board of Directors of Greys Property Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greys Property Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Greys Property Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Greys Property Ltd.. You consider that Greys Property Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Greys Property Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH


5 August 2024