REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
Greywalls Property Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
Greywalls Property Ltd |
Greywalls Property Ltd (Registered number: 11109601) |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
Greywalls Property Ltd |
Company Information |
For The Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Greywalls Property Ltd (Registered number: 11109601) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Fair value reserve |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their 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. |
Greywalls Property Ltd (Registered number: 11109601) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Greywalls Property Ltd (Registered number: 11109601) |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Greywalls Property Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and Bank Balances |
Cash and bank balances are measured at the transaction price. |
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. |
Greywalls Property Ltd (Registered number: 11109601) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to financially support the company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2020 | 177,437 | 55,954 | 28,285 | 502 | 262,178 |
Greywalls Property Ltd (Registered number: 11109601) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
Revaluations | (2,192 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Each property has been valued throughout the year and reviewed by director at 31/12/2023 and assessed as fair value. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Greywalls Property Ltd (Registered number: 11109601) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans | 2,901,020 | 1,977,172 |
Aldermore Bank hold the following securities: |
1. Floating charge covers all the property or undertaking of the company. |
2. English mortgage deed over 14 Daisy Avenue, M13 0LY registered under title number LA102629. |
3. Standard security over property 5 Woodfield, G71 6LZ. |
4. 26 Kirkwall Avenue, G472 9NX registered under title number LAN231952. |
TSB Bank PLC hold the following securities: |
1. Floating charge covers all the property or undertaking of the company. |
2. 10 Wateryetts Drive, Kilmacolm under title number REN90609. |
3. 38b Cartside Avenue, Johnstone under title number REN94713. |
4. 7a Hill Street, Wishaw under title number LAN131664. |
5. 2 Kirkstyle Cottages under title number LAN237880. |
6. 69 Crookhill Gardens, Lochwinnoch under title number REN118392. |
Cumberland Building Society hold the following securities: |
1. 50 East Clyde Street, Helensburgh |
Kensington Mortgage company ltd hold the following securities: |
1.46 Whins Road, Alloa |
Precise Mortgages hold the following securties: |
1. 61 Alexandra Avenue |
Lendinvest BTL Ltd hold the following securities: |
1. 43 John Muir Way |
2. Flat 3/5 37 Carnousitie Street. |
3. 32A Graham Street |
Paragon Bank hold the following securities: |
1. 61 Belvidere Avenue |
2. 58 Waverley Terrace. |
3. 49 Belvidere Avenue |
Shawbrook Bank hold the following securities: |
1. Flat 2/1 9E Thorn Brae. |
2. Flat2/1, 1 Dimity Street. |
3. 34D Graham Street |
The Mortgage Lender hold the following securities: |
1. 2 Kirkstyle Cottages |
10. | PROVISIONS FOR LIABILITIES |
31.12.23 | 31.12.22 |
£ | £ |
Deferred tax | 18,298 | 29,224 |
Greywalls Property Ltd (Registered number: 11109601) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Provided during year | ( |
) |
Balance at 31 December 2023 |
11. | RELATED PARTY DISCLOSURES |
Greywalls Property Ltd has investment from an associated company - Natalie Driver Limited (the companies share a joint director Natalie Driver). The balance at the year end owed to the Natalie Driver Limited is £164,906.47 (2022 - £166,736.47). |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Greywalls Property Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greywalls Property Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the Board of Directors of Greywalls Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greywalls Property Ltd and state those matters that we have agreed to state to the Board of Directors of Greywalls Property Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Greywalls Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Greywalls Property Ltd. You consider that Greywalls Property Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Greywalls Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |