IRIS Accounts Production v24.2.0.383 11109601 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111096012022-12-31111096012023-12-31111096012023-01-012023-12-31111096012021-12-31111096012022-01-012022-12-31111096012022-12-3111109601ns15:EnglandWales2023-01-012023-12-3111109601ns14:PoundSterling2023-01-012023-12-3111109601ns10:Director12023-01-012023-12-3111109601ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111109601ns10:SmallEntities2023-01-012023-12-3111109601ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3111109601ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111109601ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111109601ns10:FullAccounts2023-01-012023-12-3111109601ns10:Director22023-01-012023-12-3111109601ns10:RegisteredOffice2023-01-012023-12-3111109601ns5:CurrentFinancialInstruments2023-12-3111109601ns5:CurrentFinancialInstruments2022-12-3111109601ns5:Non-currentFinancialInstruments2023-12-3111109601ns5:Non-currentFinancialInstruments2022-12-3111109601ns5:ShareCapital2023-12-3111109601ns5:ShareCapital2022-12-3111109601ns5:RevaluationReserve2023-12-3111109601ns5:RevaluationReserve2022-12-3111109601ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3111109601ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3111109601ns5:RetainedEarningsAccumulatedLosses2023-12-3111109601ns5:RetainedEarningsAccumulatedLosses2022-12-3111109601ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3111109601ns5:FurnitureFittings2023-01-012023-12-3111109601ns5:MotorVehicles2023-01-012023-12-3111109601ns5:ComputerEquipment2023-01-012023-12-3111109601ns5:LandBuildings2022-12-3111109601ns5:FurnitureFittings2022-12-3111109601ns5:MotorVehicles2022-12-3111109601ns5:ComputerEquipment2022-12-3111109601ns5:LandBuildings2023-01-012023-12-3111109601ns5:LandBuildings2023-12-3111109601ns5:FurnitureFittings2023-12-3111109601ns5:MotorVehicles2023-12-3111109601ns5:ComputerEquipment2023-12-3111109601ns5:LandBuildings2022-12-3111109601ns5:FurnitureFittings2022-12-3111109601ns5:MotorVehicles2022-12-3111109601ns5:ComputerEquipment2022-12-3111109601ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111109601ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111109601ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3111109601ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3111109601ns5:DeferredTaxation2022-12-3111109601ns5:DeferredTaxation2023-01-012023-12-3111109601ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 11109601 (England and Wales)





















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: R A Driver
Mrs N Driver





REGISTERED OFFICE: 16 Truss Hill Road
Ascot
SL5 9AL





REGISTERED NUMBER: 11109601 (England and Wales)

Greywalls Property Ltd (Registered number: 11109601)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 213,085 196,529
Investment property 5 3,925,163 2,728,016
4,138,248 2,924,545

CURRENT ASSETS
Debtors 6 4,521 4,764
Cash at bank 3,685 20,217
8,206 24,981
CREDITORS
Amounts falling due within one year 7 59,688 42,659
NET CURRENT LIABILITIES (51,482 ) (17,678 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,086,766

2,906,867

CREDITORS
Amounts falling due after more than one
year

8

(4,104,449

)

(2,898,646

)

PROVISIONS FOR LIABILITIES 10 (18,298 ) (29,224 )
NET LIABILITIES (35,981 ) (21,003 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 41,714 38,413
Fair value reserve 77,452 86,280
Retained earnings (155,149 ) (145,698 )
(35,981 ) (21,003 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





R A Driver - Director


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 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.

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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 20% on reducing balance

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 177,437 55,954 - 502 233,893
Additions - - 28,285 - 28,285
At 31 December 2023 177,437 55,954 28,285 502 262,178
DEPRECIATION
At 1 January 2023 7,097 29,900 - 367 37,364
Charge for year 3,549 3,908 4,243 29 11,729
At 31 December 2023 10,646 33,808 4,243 396 49,093
NET BOOK VALUE
At 31 December 2023 166,791 22,146 24,042 106 213,085
At 31 December 2022 170,340 26,054 - 135 196,529

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 2,728,016
Additions 1,257,147
Disposals (57,808 )
Revaluations (2,192 )
At 31 December 2023 3,925,163
NET BOOK VALUE
At 31 December 2023 3,925,163
At 31 December 2022 2,728,016

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 4,521 4,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 4,688 4,220
Trade creditors 30,461 18,131
Taxation and social security 1,171 4,265
Other creditors 23,368 16,043
59,688 42,659

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 2,910,271 1,990,626
Other creditors 1,194,178 908,020
4,104,449 2,898,646

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,901,010 1,977,172

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 29,224
Provided during year (10,926 )
Balance at 31 December 2023 18,298

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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


20 September 2024