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REGISTERED NUMBER: 11632726 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GRAMACREST 118 LIMITED

GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

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


GRAMACREST 118 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Chaudhry
G N Sharpe





REGISTERED OFFICE: Aegis House
491 London Road
Isleworth
Middlesex
TW7 4DA





REGISTERED NUMBER: 11632726 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,165,000 1,165,000

CURRENT ASSETS
Debtors 5 1,050 1,050
Cash at bank 48,342 58,992
49,392 60,042
CREDITORS
Amounts falling due within one year 6 480,975 483,667
NET CURRENT LIABILITIES (431,583 ) (423,625 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,417

741,375

CREDITORS
Amounts falling due after more than one
year

7

(535,902

)

(545,927

)

PROVISIONS FOR LIABILITIES (30,880 ) (30,880 )
NET ASSETS 166,635 164,568

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 92,639 92,639
Retained earnings 73,896 71,829
166,635 164,568

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 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.

GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

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 Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





A Chaudhry - Director


GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

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


1. STATUTORY INFORMATION

Gramacrest 118 Limited 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.

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.

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).

GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

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 1,165,000
NET BOOK VALUE
At 31 March 2024 1,165,000
At 31 March 2023 1,165,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 123,517
Cost 1,041,483
1,165,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,050 1,050

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 485 3,362
Other creditors 470,490 470,305
480,975 483,667

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 535,902 545,927

Bank loans are secured over the company's investment property.

GRAMACREST 118 LIMITED (REGISTERED NUMBER: 11632726)

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


8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 92,639

9. RELATED PARTY DISCLOSURES

Other creditors include a loan of £453,975 (2023 - £453,975) payable to Banbury Properties Limited, a company which is related by virtue of common directors. The loan is unsecured, interest free and with no repayment date.

Other creditors also include a loan of £1,063 (2023 - £913) payable to Mr A Chaudhry, a director. The loan is unsecured, interest free and with no repayment date.