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REGISTERED NUMBER: 00394583 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GREX LIMITED

GREX LIMITED (REGISTERED NUMBER: 00394583)






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


GREX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Russell Gammell





REGISTERED OFFICE: 102 Cricklewood Broadway
London
NW2 3EJ





REGISTERED NUMBER: 00394583 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

GREX LIMITED (REGISTERED NUMBER: 00394583)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,985,000 7,985,000

CURRENT ASSETS
Debtors 5 61,609 63,006
Investments 6 2,500,000 2,000,000
Cash at bank 51,862 16,625
2,613,471 2,079,631
CREDITORS
Amounts falling due within one year 7 177,081 86,290
NET CURRENT ASSETS 2,436,390 1,993,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,421,390

9,978,341

PROVISIONS FOR LIABILITIES 433,124 433,124
NET ASSETS 9,988,266 9,545,217

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Fair value reserve 8 2,136,768 2,136,768
Retained earnings 7,849,498 7,406,449
SHAREHOLDERS' FUNDS 9,988,266 9,545,217

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.

GREX LIMITED (REGISTERED NUMBER: 00394583)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





Russell Gammell - Director


GREX LIMITED (REGISTERED NUMBER: 00394583)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Grex Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office 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 the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced rents receivable, excluding value added tax.

Investment properties
Investment properties are accounted for in accordance with the provisions of section 16 of FRS 102. They are valued annually by the directors, and from time to time by an independent professional valuer, on a fair value basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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 NIL (2023 - NIL).

GREX LIMITED (REGISTERED NUMBER: 00394583)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 7,985,000
NET BOOK VALUE
At 31 March 2024 7,985,000
At 31 March 2023 7,985,000

If investment properties had not been annually revalued they would have been included at a cost of £5,415,108 (2023: £5,415,108).


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 61,609 63,006

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Treasury deposit 2,500,000 2,000,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 4,804 6,556
Taxation and social security 147,683 67,572
Other creditors 24,594 12,162
177,081 86,290

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 2,136,768

9. ULTIMATE HOLDING COMPANY

The ultimate holding company is Grex Holdings Limited for which the registered office is 102 Cricklewood Broadway, London NW2 3EJ.