Registered number
00635674
GRAEMESDYKE PROPERTY CO.LIMITED
Unaudited Filleted Accounts
30 September 2023
GRAEMESDYKE PROPERTY CO.LIMITED
Registered number: 00635674
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 287 382
Investment Properties 5 979,000 1,046,000
979,287 1,046,382
Current assets
Stocks 514,809 514,809
Debtors 6 34,252 57,040
Cash at bank and in hand 559,641 557,168
1,108,702 1,129,017
Creditors: amounts falling due within one year 7 (39,970) (52,537)
Net current assets 1,068,732 1,076,480
Total assets less current liabilities 2,048,019 2,122,862
Provisions for liabilities (85,118) (101,868)
Net assets 1,962,901 2,020,994
Capital and reserves
Called up share capital 100 100
Non Distributable Reserve 8 255,352 305,602
Profit and loss account 9 1,707,449 1,715,292
Shareholders' funds 1,962,901 2,020,994
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A E Taylor
Director
Approved by the board on 9 September 2024
The Notes on pages 2 to 6 form part of these financial statements.
GRAEMESDYKE PROPERTY CO.LIMITED
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
1.1 Basis of preparation
The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. (as applied to small entities by section 1A of the standard).
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
1.2 Going concern
The Company has generated sufficient cash inflows from their activities to allow the directors to believe that the Company is well placed to manage its business risks successfully in the current economic climate.
Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and they believe it is appropriate to adopt the going concern basis of accounting in preparing these financial statements.
1.3 Turnover
Turnover represents sale of any property held as stock during the year.

Revenue from sale of stock properties is recognised when the significant risks and rewards of ownership of the properties have passed to the buyer, usually on completion of contracts, the amount of revenue can be measured reliably.
1.4 Other Income
Other Income represents rental income received in respect of the companies Investment properties and also rental income from other properties held as Stock awaiting sale.
1.5 Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, tools and office equipment 25% Reducing Balance
1.6 Investment Properties
Certain properties of the Company are held for long-term Investments.

Investment Properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment Properties are recognised initially at cost. The initial cost of the Investment properties comprises of its purchase price and any directly attributable expenditure.

Subsequently Investment Properties held for investment purpose are stated at Fair Value at each reporting date with changes in fair value recognised in the income statement in the period that they arise. No depreciation is provided in respect of Investment properties applying the fair value model.

Investment Properties is carried at Fair value determine annually by the Directors and derived from the current market rents and Investment property yields of comparable properties, adjusted if necessary for any difference in the nature, location or condition of the specific property.

Any aggregate surplus or deficit arising from changes in fair value are transferred to Non Distributable Revaluation reserve.
1.7 Stocks
Stock of properties not held for long-term investment is valued at the lower of cost and net realisable value. Net relisable value is based on anticipated selling price less anticipated selling costs.

These properties are not held as investment properties as it is the director's intention to sell in the future. These properties are maintained to such a standard that their estimated residual value is not less than cost. Depreciation is not provided on properties held as Stock.
1.8 Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1.9 Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
1.10 Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes iteams that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.
1.11 Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
1.12 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.
2 Judgements in applying Accounting policies and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are nor readily apperent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the provision affects only that period, or in the period of revision and future periods where the revision affects both current and the future periods.

Impariment of Debtors - Bad Debts provision
The directors make an estimate of the recoverable value of debtors being rent still due from tenants at the year end. When assessing impairment of rent debtors, the directors consider factors including the ageing profile of the debtors and historical experience.

Valuation of Investment Properties
The directors make an estimate of the fair value of the investment properties. When assessing the fair value, the directors consider, amongst other things the expected rental yields, the length of the term of the lease, the valuation of other properties in the immediate vicinity and the condition of the property.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
4 Tangible fixed assets
Office Equipments
£
Cost
At 1 October 2022 509
At 30 September 2023 509
Depreciation
At 1 October 2022 127
Charge for the year 95
At 30 September 2023 222
Net book value
At 30 September 2023 287
At 30 September 2022 382
5 Investment Properties
Investments Participating
In Interest
Property Investment Total
£ £ £
Fair value
At 1 October 2022 878,000 168,000 1,046,000
Revaluation of Investment Properties (64,000) (3,000) (67,000)
At 30 September 2023 814,000 165,000 979,000
Investment properties comprise residential properties. The fair value of investment properties has been arrived at on the basis of valuation carried out at the year end by the directors.

Investment Properties is carried at Fair value determine annually by the Directors and derived from the current market rents and Investment property yields of comparable properties, adjusted if necessary for any difference in the nature, location or condition of the specific property.
6 Debtors 2023 2022
£ £
Other debtors 34,252 57,040
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 31,500 31,450
Taxation and social security costs - 5,982
Other creditors 8,470 15,105
39,970 52,537
8 Non Distributable Reserve 2023 2022
£ £
At 1 October 2022 305,602 248,602
(Loss)/gain on revaluation of land and buildings (67,000) 76,000
Deferred taxation arising on the revaluation of land and buildings 16,750 (19,000)
At 30 September 2023 255,352 305,602
These investment property reserve represents the difference between fair value of investment property and its original cost. The investment property revaluation reserve is not distributable, it contains unrealised gains on the valuations of investment properties.

The tax treatment of items included within the Fair value non distributable reserve is the recognition of the movement in the deferred tax liability which will be due on the sale of the investment properties.
9 Profit and loss account 2023 2022
£ £
At 1 October 2022 1,715,292 1,689,797
Profit/(loss) this year (7,843) 25,495
At 30 September 2023 1,707,449 1,715,292
This comprises the accumulated profits and losses of the company since incorporation.
10 Other information
GRAEMESDYKE PROPERTY CO.LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
97 Chamberlayne Road, Kensal Rise, London, NW10 3NN England
11 Post Balance sheet event
The directors are currently at advanced stages of negotiation of the sale contract for a group of the company's properties held in stock and expect completion within a month of signing these Accounts.
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