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REGISTERED NUMBER: 00260718 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 June 2024

for

Greaves Brothers Limited

Greaves Brothers Limited (Registered number: 00260718)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Greaves Brothers Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: K R Pegg
M Pegg
J A Pegg
G Pegg





SECRETARY: J A Pegg





REGISTERED OFFICE: The Old House
Wood Lane
Cadeby
Nuneaton
Warwickshire
CV13 0AU





REGISTERED NUMBER: 00260718 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Greaves Brothers Limited


The following reproduces the text of the report prepared for the directors 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 Directors 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 Greaves Brothers Limited for the year ended 30 June 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 Board of Directors of Greaves Brothers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greaves Brothers Limited and state those matters that we have agreed to state to the Board of Directors of Greaves Brothers Limited, as a body, 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 Greaves Brothers Limited and its Board of Directors, as a body, for our work or for this report.

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






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


13 January 2025

Greaves Brothers Limited (Registered number: 00260718)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,606 1,848
Investments 5 829,889 791,270
Investment property 6 3,145,000 3,145,000
3,976,495 3,938,118

CURRENT ASSETS
Debtors 7 2,964 875
Cash at bank and in hand 116,567 28,314
119,531 29,189
CREDITORS
Amounts falling due within one year 8 59,730 71,866
NET CURRENT ASSETS/(LIABILITIES) 59,801 (42,677 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,036,296

3,895,441

PROVISIONS FOR LIABILITIES 339,716 329,742
NET ASSETS 3,696,580 3,565,699

CAPITAL AND RESERVES
Called up share capital 9 4,977 4,977
Revaluation reserve 10 1,566,922 1,482,361
Other reserves 3,313 3,313
Retained earnings 2,121,368 2,075,048
SHAREHOLDERS' FUNDS 3,696,580 3,565,699

Greaves Brothers Limited (Registered number: 00260718)

Balance Sheet - continued
30 June 2024


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

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

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 13 January 2025 and were signed on its behalf by:





G Pegg - Director


Greaves Brothers Limited (Registered number: 00260718)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Greaves Brothers 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 represents net invoiced rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Motor vehicles - 25% 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.

Investments
Investments are calculated at fair value, after taking into consideration permanent diminution in value.

Greaves Brothers Limited (Registered number: 00260718)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 30,374 4,500 34,874
Additions 308 - 308
At 30 June 2024 30,682 4,500 35,182
DEPRECIATION
At 1 July 2023 29,950 3,076 33,026
Charge for year 194 356 550
At 30 June 2024 30,144 3,432 33,576
NET BOOK VALUE
At 30 June 2024 538 1,068 1,606
At 30 June 2023 424 1,424 1,848

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2023 791,270
Additions 833,856
Disposals (851,615 )
Revaluations 56,378
At 30 June 2024 829,889
NET BOOK VALUE
At 30 June 2024 829,889
At 30 June 2023 791,270

Cost or valuation at 30 June 2024 is represented by:

Other
investments
£   
Valuation in 2024 39,896
Cost 789,993
829,889

Greaves Brothers Limited (Registered number: 00260718)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 3,145,000
NET BOOK VALUE
At 30 June 2024 3,145,000
At 30 June 2023 3,145,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2016 1,681,742
Valuation in 2022 25,000
Valuation in 2023 160,000
Cost 1,278,258
3,145,000

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

30.6.24 30.6.23
£    £   
Cost 1,278,258 1,278,258

Investment property was valued on an open market basis on 30 June 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
VAT - 875
Prepayments and accrued income 2,964 -
2,964 875

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 298 258
Corporation tax 36,974 14,218
VAT 2,244 -
Directors' current accounts 16,664 53,055
Accruals and deferred income 3,550 4,335
59,730 71,866

Greaves Brothers Limited (Registered number: 00260718)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,245 Ordinary A £1 1,244 1,245
1,244 Ordinary B £1 1,244 1,244
1,244 Ordinary C £1 1,244 1,244
1,244 Ordinary D £1 1,245 1,244
4,977 4,977

10. RESERVES
Revaluation
reserve
£   
At 1 July 2023 1,482,361
Investment revaluation 29,922
Transfer 54,639

At 30 June 2024 1,566,922