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REGISTERED NUMBER: SC172876 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gryffe Residential Limited

Gryffe Residential Limited (Registered number: SC172876)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Gryffe Residential Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P Harper





REGISTERED OFFICE: 17 North Anderson Drive
Aberdeen
AB15 6DZ





REGISTERED NUMBER: SC172876 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Gryffe Residential Limited (Registered number: SC172876)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

DIRECTOR
P Harper held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Harper - Director


11 November 2024

Gryffe Residential Limited (Registered number: SC172876)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER - -

Administrative expenses 15,170 16,935
(15,170 ) (16,935 )

Other operating income 45,190 42,802
OPERATING PROFIT 4 30,020 25,867


Interest payable and similar expenses 46,396 29,058
LOSS BEFORE TAXATION (16,376 ) (3,191 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (16,376 ) (3,191 )

Gryffe Residential Limited (Registered number: SC172876)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 995,000 995,000
995,000 995,000

CURRENT ASSETS
Debtors 7 - 176,557
Cash at bank 193,536 12,343
193,536 188,900
CREDITORS
Amounts falling due within one year 8 43,616 22,641
NET CURRENT ASSETS 149,920 166,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,144,920

1,161,259

CREDITORS
Amounts falling due after more than one
year

9

518,469

518,432
NET ASSETS 626,451 642,827

CAPITAL AND RESERVES
Called up share capital 6 6
Revaluation reserve 11 431,429 431,429
Retained earnings 195,016 211,392
SHAREHOLDERS' FUNDS 626,451 642,827

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 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.

Gryffe Residential Limited (Registered number: SC172876)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





P Harper - Director


Gryffe Residential Limited (Registered number: SC172876)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gryffe Residential Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% 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.

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).

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets - 1,100

Gryffe Residential Limited (Registered number: SC172876)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 46,802
DEPRECIATION
At 1 April 2023
and 31 March 2024 46,802
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 995,000
NET BOOK VALUE
At 31 March 2024 995,000
At 31 March 2023 995,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 1,365,000
Valuation in 2022 (370,000 )
995,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 176,557

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 4,895 2,012
Other creditors 38,721 20,629
43,616 22,641

Gryffe Residential Limited (Registered number: SC172876)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 518,469 518,432

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 518,469 518,432

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 431,429