1 January 2023 false No description of principal activity Taxfiler 2024.5 06991316business:PrivateLimitedCompanyLtd2023-01-012023-12-31 069913162022-12-31 069913162023-01-012023-12-31 06991316business:AuditExemptWithAccountantsReport2023-01-012023-12-31 06991316business:FilletedAccounts2023-01-012023-12-31 069913162023-12-31 069913162022-12-31 06991316core:WithinOneYear2023-12-31 06991316core:WithinOneYear2022-12-31 06991316core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 06991316core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 06991316core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 06991316core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 06991316core:PreviouslyStatedAmount2023-12-31 06991316core:PreviouslyStatedAmount2022-12-31 06991316business:SmallEntities2023-01-012023-12-31 06991316business:Director22023-01-012023-12-31 06991316countries:EnglandWales2023-01-012023-12-31 06991316business:RegisteredOffice2023-01-012023-12-31 069913162022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 06991316 (England and Wales)
Greatford Estates Ltd Unaudited accounts for the year ended 31 December 2023
Greatford Estates Ltd Unaudited accounts Contents
Page
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Greatford Estates Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
3,391,570 
3,391,570 
Current assets
Debtors
49,576 
291,911 
Cash at bank and in hand
149,859 
70,092 
199,435 
362,003 
Creditors: amounts falling due within one year
(1,856,890)
(2,180,828)
Net current liabilities
(1,657,455)
(1,818,825)
Total assets less current liabilities
1,734,115 
1,572,745 
Provisions for liabilities
Deferred tax
(31,039)
(31,039)
Net assets
1,703,076 
1,541,706 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,702,976 
1,541,606 
Shareholders' funds
1,703,076 
1,541,706 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Malcolm D Wells Director Company Registration No. 06991316
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Greatford Estates Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Greatford Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 06991316. The registered office is Spring House, Bath Row, Stamford, Lincolnshire, PE9 2QX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2023 
£ 
Fair value at 1 January 2023
3,391,570 
At 31 December 2023
3,391,570 
As at the 31st December 2021, the investment properties were valued at market value. These were done by Mr M. D. Wells & Mr H. M. Wells, both of which are members of the Royal Institute of Chartered Surveyors.
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
23,928 
13,510 
Amounts due from group undertakings etc.
- 
255,000 
Accrued income and prepayments
4,096 
3,783 
Other debtors
21,552 
19,618 
49,576 
291,911 
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Greatford Estates Ltd Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
39,479 
29,375 
Amounts owed to group undertakings and other participating interests
583,497 
585,478 
Taxes and social security
49,562 
41,357 
Other creditors
21,552 
19,618 
Loans from directors
1,162,800 
1,505,000 
1,856,890 
2,180,828 
7
Transactions with related parties
As at the 31st December 2023 within debtors, £nil (2022 - £255,000) was owed from a related party, for which the majority of directors have a participating interest in. This loan is interest free and is repayable on demand. As at the 31st December 2023 within creditors, £583,497 (2022 - £585,478) was owed to a related party, the shareholder. This loan is charged a commercial rate of interest annually.
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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