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REGISTERED NUMBER: 04435159 (England and Wales)















GRS Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






GRS Properties Limited (Registered number: 04435159)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRS Properties Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: GR Smith





REGISTERED OFFICE: Hesketh House
156 Ratten Lane
Hutton
Preston
Lancashire
PR4 5TH





REGISTERED NUMBER: 04435159 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

GRS Properties Limited (Registered number: 04435159)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 60,000 60,000

CURRENT ASSETS
Cash at bank 5,685 2,808

CREDITORS
Amounts falling due within one year 5 1,362 1,851
NET CURRENT ASSETS 4,323 957
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,323

60,957

CREDITORS
Amounts falling due after more than one
year

6

37,000

35,208
NET ASSETS 27,323 25,749

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 24,063 24,063
Retained earnings 3,160 1,586
SHAREHOLDERS' FUNDS 27,323 25,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

GRS Properties Limited (Registered number: 04435159)

Balance Sheet - continued
31 March 2024


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 5 September 2024 and were signed by:





GR Smith - Director


GRS Properties Limited (Registered number: 04435159)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

GRS Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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 represents rents receivable.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Investment properties
In accordance with Statement of Standard Accounting Practice No. 19, the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. Any surplus or deficit on revaluation of such properties is transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from the requirements of the Companies Act, which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 60,000
At 31 March 2023 60,000

GRS Properties Limited (Registered number: 04435159)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INVESTMENT PROPERTY - continued

The property was valued on an open market basis by Peill and Company as at 10 November 2003 at £60,000, the directors' value the property at the same amount on an open market basis as at 31 March 2024. On a historical cost basis, freehold property would have been included at £35,937 (2023: £35,937).

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 662 681
Director's loan account 40 582
Accruals and deferred income 660 588
1,362 1,851

The director's loan account is unsecured, bears no interest and has no fixed repayment term.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Director's loan account 37,000 35,208

The director's loan account is unsecured, bears no interest and has no fixed repayment term.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

In the director's opinion the company is controlled by Mr GR Smith.