Company registration number 11645839 (England and Wales)
GREAVES HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
GREAVES HOMES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 5
GREAVES HOMES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREAVES HOMES LIMITED FOR THE YEAR ENDED 31 OCTOBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greaves Homes Limited for the year ended 31 October 2023 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Greaves Homes Limited, as a body, in accordance with the terms of our engagement letter dated 10 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Greaves Homes Limited and state those matters that we have agreed to state to the board of directors of Greaves Homes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greaves Homes Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Greaves Homes Limited 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 Greaves Homes Limited. You consider that Greaves Homes Limited 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 Greaves Homes Limited. 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.

Waters & Atkinson
31 October 2024
Chartered Accountants
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
GREAVES HOMES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
141,758
111,758
Current assets
Cash at bank and in hand
3,067
881
Creditors: amounts falling due within one year
(9,919)
(7,720)
Net current liabilities
(6,852)
(6,839)
Total assets less current liabilities
134,906
104,919
Creditors: amounts falling due after more than one year
(106,530)
(106,530)
Provisions for liabilities
(5,372)
-
0
Net assets/(liabilities)
23,004
(1,611)
Capital and reserves
Called up share capital
100
100
Revaluation reserve
4
24,628
-
0
Profit and loss reserves
(1,724)
(1,711)
Total equity
23,004
(1,611)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GREAVES HOMES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
Mr S Allday
Director
Company registration number 11645839 (England and Wales)
GREAVES HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
1
Accounting policies
Company information

Greaves Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sandside, The Shore, Bolton-le-Sands, Carnforth, Lancashire, LA5 8JS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement 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 classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GREAVES HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 November 2022
111,758
Revaluations
30,000
At 31 October 2023
141,758

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made with reference to market evidence of transaction prices for similar properties.

4
Revaluation reserve
2023
2022
£
£
At the beginning of the year
-
0
-
0
Tax on fair value adjustment to investments
(5,372)
-
Other movements
30,000
-
At the end of the year
24,628
-
2023-10-312022-11-01false31 October 2024CCH SoftwareCCH Accounts Production 2024.100Property management
Mr S AlldayMiss R Greenfalsefalse
116458392022-11-012023-10-31116458392023-10-31116458392022-10-3111645839core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3111645839core:CurrentFinancialInstrumentscore:WithinOneYear2022-10-3111645839core:Non-currentFinancialInstrumentscore:AfterOneYear2023-10-3111645839core:Non-currentFinancialInstrumentscore:AfterOneYear2022-10-3111645839core:ShareCapital2023-10-3111645839core:ShareCapital2022-10-3111645839core:RevaluationReserve2023-10-3111645839core:RevaluationReserve2022-10-3111645839core:RetainedEarningsAccumulatedLosses2023-10-3111645839core:RetainedEarningsAccumulatedLosses2022-10-3111645839core:RevaluationReserve2022-10-3111645839core:RevaluationReserve2021-10-3111645839bus:Director12022-11-012023-10-31116458392021-11-012022-10-31116458392022-10-3111645839bus:PrivateLimitedCompanyLtd2022-11-012023-10-3111645839bus:SmallCompaniesRegimeForAccounts2022-11-012023-10-3111645839bus:FRS1022022-11-012023-10-3111645839bus:AuditExemptWithAccountantsReport2022-11-012023-10-3111645839bus:Director22022-11-012023-10-3111645839bus:FullAccounts2022-11-012023-10-31xbrli:purexbrli:sharesiso4217:GBP