2022-12-012023-11-302023-11-30falseSC513385GRAY & GRAY PROPERTIES LIMITED2024-08-2968209iso4217:GBPxbrli:pureSC5133852022-12-01SC5133852023-11-30SC5133852022-12-012023-11-30SC5133852021-12-01SC5133852022-11-30SC5133852021-12-012022-11-30SC513385bus:SmallEntities2022-12-012023-11-30SC513385bus:AuditExempt-NoAccountantsReport2022-12-012023-11-30SC513385bus:FullAccounts2022-12-012023-11-30SC513385bus:PrivateLimitedCompanyLtd2022-12-012023-11-30SC513385core:WithinOneYear2023-11-30SC513385core:AfterOneYear2023-11-30SC513385core:WithinOneYear2022-11-30SC513385core:AfterOneYear2022-11-30SC513385core:ShareCapital2023-11-30SC513385core:SharePremium2023-11-30SC513385core:RevaluationReserve2023-11-30SC513385core:OtherReservesSubtotal2023-11-30SC513385core:RetainedEarningsAccumulatedLosses2023-11-30SC513385core:ShareCapital2022-11-30SC513385core:SharePremium2022-11-30SC513385core:RevaluationReserve2022-11-30SC513385core:OtherReservesSubtotal2022-11-30SC513385core:RetainedEarningsAccumulatedLosses2022-11-30SC513385core:LandBuildings2023-11-30SC513385core:PlantMachinery2023-11-30SC513385core:Vehicles2023-11-30SC513385core:FurnitureFittings2023-11-30SC513385core:OfficeEquipment2023-11-30SC513385core:NetGoodwill2023-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2023-11-30SC513385core:ListedExchangeTraded2023-11-30SC513385core:UnlistedNon-exchangeTraded2023-11-30SC513385core:LandBuildings2022-11-30SC513385core:PlantMachinery2022-11-30SC513385core:Vehicles2022-11-30SC513385core:FurnitureFittings2022-11-30SC513385core:OfficeEquipment2022-11-30SC513385core:NetGoodwill2022-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2022-11-30SC513385core:ListedExchangeTraded2022-11-30SC513385core:UnlistedNon-exchangeTraded2022-11-30SC513385core:LandBuildings2022-12-012023-11-30SC513385core:PlantMachinery2022-12-012023-11-30SC513385core:Vehicles2022-12-012023-11-30SC513385core:FurnitureFittings2022-12-012023-11-30SC513385core:OfficeEquipment2022-12-012023-11-30SC513385core:NetGoodwill2022-12-012023-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC513385core:ListedExchangeTraded2022-12-012023-11-30SC513385core:UnlistedNon-exchangeTraded2022-12-012023-11-30SC513385core:MoreThanFiveYears2022-12-012023-11-30SC513385core:Non-currentFinancialInstruments2023-11-30SC513385core:Non-currentFinancialInstruments2022-11-30SC513385dpl:CostSales2022-12-012023-11-30SC513385dpl:DistributionCosts2022-12-012023-11-30SC513385core:LandBuildings2022-12-012023-11-30SC513385core:PlantMachinery2022-12-012023-11-30SC513385core:Vehicles2022-12-012023-11-30SC513385core:FurnitureFittings2022-12-012023-11-30SC513385core:OfficeEquipment2022-12-012023-11-30SC513385dpl:AdministrativeExpenses2022-12-012023-11-30SC513385core:NetGoodwill2022-12-012023-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC513385dpl:GroupUndertakings2022-12-012023-11-30SC513385dpl:ParticipatingInterests2022-12-012023-11-30SC513385dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-30SC513385core:ListedExchangeTraded2022-12-012023-11-30SC513385dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-30SC513385core:UnlistedNon-exchangeTraded2022-12-012023-11-30SC513385dpl:CostSales2021-12-012022-11-30SC513385dpl:DistributionCosts2021-12-012022-11-30SC513385core:LandBuildings2021-12-012022-11-30SC513385core:PlantMachinery2021-12-012022-11-30SC513385core:Vehicles2021-12-012022-11-30SC513385core:FurnitureFittings2021-12-012022-11-30SC513385core:OfficeEquipment2021-12-012022-11-30SC513385dpl:AdministrativeExpenses2021-12-012022-11-30SC513385core:NetGoodwill2021-12-012022-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-30SC513385dpl:GroupUndertakings2021-12-012022-11-30SC513385dpl:ParticipatingInterests2021-12-012022-11-30SC513385dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-30SC513385core:ListedExchangeTraded2021-12-012022-11-30SC513385dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-30SC513385core:UnlistedNon-exchangeTraded2021-12-012022-11-30SC513385core:NetGoodwill2023-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2023-11-30SC513385core:LandBuildings2023-11-30SC513385core:PlantMachinery2023-11-30SC513385core:Vehicles2023-11-30SC513385core:FurnitureFittings2023-11-30SC513385core:OfficeEquipment2023-11-30SC513385core:AfterOneYear2023-11-30SC513385core:WithinOneYear2023-11-30SC513385core:ListedExchangeTraded2023-11-30SC513385core:UnlistedNon-exchangeTraded2023-11-30SC513385core:ShareCapital2023-11-30SC513385core:SharePremium2023-11-30SC513385core:RevaluationReserve2023-11-30SC513385core:OtherReservesSubtotal2023-11-30SC513385core:RetainedEarningsAccumulatedLosses2023-11-30SC513385core:NetGoodwill2022-11-30SC513385core:IntangibleAssetsOtherThanGoodwill2022-11-30SC513385core:LandBuildings2022-11-30SC513385core:PlantMachinery2022-11-30SC513385core:Vehicles2022-11-30SC513385core:FurnitureFittings2022-11-30SC513385core:OfficeEquipment2022-11-30SC513385core:AfterOneYear2022-11-30SC513385core:WithinOneYear2022-11-30SC513385core:ListedExchangeTraded2022-11-30SC513385core:UnlistedNon-exchangeTraded2022-11-30SC513385core:ShareCapital2022-11-30SC513385core:SharePremium2022-11-30SC513385core:RevaluationReserve2022-11-30SC513385core:OtherReservesSubtotal2022-11-30SC513385core:RetainedEarningsAccumulatedLosses2022-11-30SC513385core:NetGoodwill2021-12-01SC513385core:IntangibleAssetsOtherThanGoodwill2021-12-01SC513385core:LandBuildings2021-12-01SC513385core:PlantMachinery2021-12-01SC513385core:Vehicles2021-12-01SC513385core:FurnitureFittings2021-12-01SC513385core:OfficeEquipment2021-12-01SC513385core:AfterOneYear2021-12-01SC513385core:WithinOneYear2021-12-01SC513385core:ListedExchangeTraded2021-12-01SC513385core:UnlistedNon-exchangeTraded2021-12-01SC513385core:ShareCapital2021-12-01SC513385core:SharePremium2021-12-01SC513385core:RevaluationReserve2021-12-01SC513385core:OtherReservesSubtotal2021-12-01SC513385core:RetainedEarningsAccumulatedLosses2021-12-01SC513385core:AfterOneYear2022-12-012023-11-30SC513385core:WithinOneYear2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:CostValuation2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC513385core:Non-currentFinancialInstrumentscore:CostValuation2023-11-30SC513385core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-30SC513385core:Non-currentFinancialInstrumentscore:CostValuation2022-11-30SC513385core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-11-30SC513385core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-11-30SC513385bus:Director12022-12-012023-11-30SC513385bus:Director22022-12-012023-11-30

GRAY & GRAY PROPERTIES LIMITED

Registered Number
SC513385
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

GRAY & GRAY PROPERTIES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

GRAY, Richard Wayne
GRAY, Ruth Irene

Registered Address

Dunearn House
Burntisland
KY3 0AH

Registered Number

SC513385 (Scotland)
GRAY & GRAY PROPERTIES LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,1703,745
Investment property41,474,1531,822,855
1,478,3231,826,600
Current assets
Debtors553172,611
Cash at bank and on hand15,36712,482
15,89885,093
Creditors amounts falling due within one year6(538,143)(824,366)
Net current assets (liabilities)(522,245)(739,273)
Total assets less current liabilities956,0781,087,327
Creditors amounts falling due after one year7(21,544)(311,977)
Provisions for liabilities8(4,024)(4,024)
Net assets930,510771,326
Capital and reserves
Called up share capital100100
Profit and loss account930,410771,226
Shareholders' funds930,510771,326
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
GRAY, Richard Wayne
Director
GRAY, Ruth Irene
Director

Registered Company No. SC513385
GRAY & GRAY PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment15
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 December 227,6577,657
Additions999999
At 30 November 238,6568,656
Depreciation and impairment
At 01 December 223,9123,912
Charge for year574574
At 30 November 234,4864,486
Net book value
At 30 November 234,1704,170
At 30 November 223,7453,745
4.Investment property

£
Fair value at 01 December 221,822,855
Disposals(348,702)
At 30 November 231,474,153
5.Debtors: amounts due within one year

2023

2022

££
Other debtors53172,611
Total53172,611
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-2,064
Bank borrowings and overdrafts9,57528,800
Taxation and social security57,61425,044
Other creditors449,923747,622
Accrued liabilities and deferred income21,03120,836
Total538,143824,366
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts21,544311,977
Total21,544311,977
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,0244,024
Total4,0244,024
9.Directors advances, credits and guarantees
At the year end Directors Loan Account balance is £449,923 (2022 :£747,622)