Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseNo description of principal activity2023-04-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC742321 2023-04-01 2024-03-31 SC742321 2022-08-24 2023-03-31 SC742321 2024-03-31 SC742321 2023-03-31 SC742321 c:Director1 2023-04-01 2024-03-31 SC742321 c:RegisteredOffice 2023-04-01 2024-03-31 SC742321 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC742321 d:OtherPropertyPlantEquipment 2024-03-31 SC742321 d:OtherPropertyPlantEquipment 2023-03-31 SC742321 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC742321 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 SC742321 d:FreeholdInvestmentProperty 2024-03-31 SC742321 d:FreeholdInvestmentProperty 2023-03-31 SC742321 d:CurrentFinancialInstruments 2024-03-31 SC742321 d:CurrentFinancialInstruments 2023-03-31 SC742321 d:Non-currentFinancialInstruments 2024-03-31 SC742321 d:Non-currentFinancialInstruments 2023-03-31 SC742321 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC742321 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC742321 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC742321 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC742321 d:ShareCapital 2024-03-31 SC742321 d:ShareCapital 2023-03-31 SC742321 d:RevaluationReserve 2024-03-31 SC742321 d:RevaluationReserve 2023-03-31 SC742321 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC742321 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC742321 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC742321 c:OrdinaryShareClass1 2024-03-31 SC742321 c:OrdinaryShareClass1 2023-03-31 SC742321 c:FRS102 2023-04-01 2024-03-31 SC742321 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC742321 c:FullAccounts 2023-04-01 2024-03-31 SC742321 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC742321 2 2023-04-01 2024-03-31 SC742321 5 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC742321










GREYSHED PROPERTIES LIMITED (FORMERLY ROBERT P. SLIGHT & SONS (PROPERTIES) LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
GREYSHED PROPERTIES LIMITED
 

COMPANY INFORMATION


Director
Mr D R Slight 




Registered number
SC742321



Registered office
Unit B
Wallyford Industrial Estate

Musselburgh

EH21 8QJ




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
GREYSHED PROPERTIES LIMITED
REGISTERED NUMBER: SC742321

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
141,825
149,004

Investment property
 5 
8,267,221
9,640,001

  
8,409,046
9,789,005

Current assets
  

Debtors: amounts falling due within one year
 6 
40,546
14,887

Bank and cash balances
  
199,204
48,470

  
239,750
63,357

Creditors: amounts falling due within one year
 7 
(55,037)
(45,511)

Net current assets
  
 
 
184,713
 
 
17,846

Total assets less current liabilities
  
8,593,759
9,806,851

Creditors: amounts falling due after more than one year
 8 
(4,411,516)
(5,611,159)

  

Net assets
  
4,182,243
4,195,692


Capital and reserves
  

Called up share capital 
 9 
1
1

Revaluation reserve
  
4,150,883
4,150,883

Profit and loss account
  
31,359
44,808

  
4,182,243
4,195,692


Page 1

 
GREYSHED PROPERTIES LIMITED
REGISTERED NUMBER: SC742321

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




Mr D R Slight
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GREYSHED PROPERTIES LIMITED
 

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

1.


General information

The Company is limited by shares and incorporated in Scotland, Registration Number SC742321. The registered office address is Unit B, Wallyford Industrial Estate, Musselburgh, Scotland, EH21 8QJ.
During the year, on 19 March 2024, the Company changed its registered name from Robert P. Slight & Sons  (Properties) Limited to Greyshed Properties Limited.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
GREYSHED PROPERTIES LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land & Buildings
-
3% to 10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
GREYSHED PROPERTIES LIMITED
 

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

4.


Tangible fixed assets





Land & Building

£



Cost or valuation


At 1 April 2023
212,534



At 31 March 2024

212,534



Depreciation


At 1 April 2023
63,530


Charge for the year on owned assets
7,179



At 31 March 2024

70,709



Net book value



At 31 March 2024
141,825



At 31 March 2023
149,004


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
9,640,001


Additions at cost
232,220


Disposals
(1,605,000)



At 31 March 2024
8,267,221

Investment property comprises of industrial rental units and a portfolio of residential properties.
The investment properties have been independently valued by Graham + Sibbald LLP which represents a fair open market value. 

 







Page 5

 
GREYSHED PROPERTIES LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
9,341
6,704

Other debtors
24,605
151

Prepayments and accrued income
6,600
8,032

40,546
14,887



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
572
(689)

Other taxation and social security
18,290
10,836

Other creditors
20,000
15,000

Accruals and deferred income
16,175
20,364

55,037
45,511



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
4,411,516
5,611,159


Page 6

 
GREYSHED PROPERTIES LIMITED
 

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



10.


Related party transactions

During the year, the company repaid £1,199,643 of a loan from Robert P. Slight & Sons Limited.  The balance at the year end amounts to £4,411,516 (2023 - £5,611,159).


11.


Controlling party

During the year, the ultimate controlling party was Greyshed Properties (Holdings) Limited, a company registered in Scotland.


Page 7