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REGISTERED NUMBER: 11955035 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

GREMESTY PROPERTIES LTD

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

GREMESTY PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr F G Gremesty





SECRETARY: Mrs M Gremesty





REGISTERED OFFICE: 7 Cranford Avenue
London
N13 4NY





REGISTERED NUMBER: 11955035 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 653 -
Investment property 5 750,000 750,000
750,653 750,000

CURRENT ASSETS
Cash at bank 2,468 2,188

CREDITORS
Amounts falling due within one year 6 60,948 66,212
NET CURRENT LIABILITIES (58,480 ) (64,024 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

692,173

685,976

CREDITORS
Amounts falling due after more than one
year

7

(451,444

)

(473,505

)

PROVISIONS FOR LIABILITIES 11 (28,715 ) (28,552 )
NET ASSETS 212,014 183,919

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 211,914 183,819
SHAREHOLDERS' FUNDS 212,014 183,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

BALANCE SHEET - continued
30 APRIL 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 22 August 2024 and were signed by:





Mr F G Gremesty - Director


GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Gremesty Properties Limited is a private company,limited by shares, registered in England and Wales.The company's registered number is 11955035 and registered office address is 7 Cranford Avenue, London, United Kingdom, N13 4NY.

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 each asset over its estimated useful life.

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.

Deferred taxes at the balance sheet date have been measured using the enacted tax rates of 19% as reflected in these financial statements.

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.

Finance costs amortisation
Finance costs incurred in connection with the arrangement of bank loans are capitalised as a reduction to the loan and then amortised , on a straight line basis, over the duration of the loans.

Going concern
The directors have considered the working capital position of the company and future working capital requirements, including any impact from the ongoing conflict in Ukraine and the high rate of interest in the UK and are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than one year from date of approval of these financial statements.

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 871
At 30 April 2024 871
DEPRECIATION
Charge for year 218
At 30 April 2024 218
NET BOOK VALUE
At 30 April 2024 653

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 750,000
NET BOOK VALUE
At 30 April 2024 750,000
At 30 April 2023 750,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2020 14,210
Valuation in 2023 100,000
Cost 635,790
750,000

If had not been revalued would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 635,790 635,790

Investment property was valued on an open market basis on 30 April 2024 by the director .

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 8) 47,347 47,347
Trade creditors 2 -
Tax 6,457 11,150
VAT 2,768 2,791
Rent received in advance 3,924 3,924
Accrued expenses 450 1,000
60,948 66,212

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 8) 360,526 393,483
Other loans (see note 8) (2,130 ) (2,678 )
Directors' loan accounts 93,048 82,700
451,444 473,505

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 164,053 193,611
Bounce bank loan 7,084 10,483
Finance costs (2,130 ) (2,678 )
169,007 201,416

8. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 47,347 47,347

Amounts falling due between one and two years:
Bank loans - 1-2 years 47,347 47,347

Amounts falling due between two and five years:
Bank loans - 2-5 years 142,042 142,042

Amounts falling due in more than five years:

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. LOANS - continued
30.4.24 30.4.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 164,053 193,611
Bounce bank loan 7,084 10,483
Finance costs (2,130 ) (2,678 )
169,007 201,416

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 407,873 440,830

10. DIRECTOR'S LOAN

Included in Creditors - amounts falling due after more than one year is a loan of £93,048 (2023: 82,700) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free.

11. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 163 -
Capital gains tax provision 28,552 28,552
28,715 28,552

Deferred
tax
£   
Balance at 1 May 2023 28,552
Charge to Income Statement during year 163
Balance at 30 April 2024 28,715

Capital gains tax on uncrystallised gains on property investments during the year was £28,552.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

GREMESTY PROPERTIES LTD (REGISTERED NUMBER: 11955035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. RESERVES
Retained
earnings
£   

At 1 May 2023 183,819
Profit for the year 28,095
At 30 April 2024 211,914

Included in Retained earnings as at 31 March 2024 is an amount of £85,658 (2023: £85,658) of revaluation reserves less deferred capital gains tax which are non distributable.

14. RELATED PARTY DISCLOSURES

The Print Unit Ltd , a related company by virtue of being a company under common control with Gremesty Properties Ltd , has provided an omnius guarantee, in relation to the bank loan.

The Print Unit Ltd rents premises from Gremesty Properties Ltd . Rent is charged at market rates.

15. CONTROLLING PARTIES

The company is controlled by Mr F. Gremesty and Mrs M. Gremesty the company director and secretary ( 50 £1 ordinary shares each).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GREMESTY PROPERTIES LTD

The following reproduces the text of the report prepared for the director 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 Director 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 Gremesty Properties Ltd for the year ended 30 April 2024 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gremesty Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gremesty Properties Ltd and state those matters that we have agreed to state to the director of Gremesty Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gremesty Properties Ltd and its director for our work or for this report.

It is your duty to ensure that Gremesty Properties 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 profit of Gremesty Properties Ltd. You consider that Gremesty Properties 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 Gremesty Properties 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.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


22 August 2024