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REGISTERED NUMBER: 10937410 (England and Wales)















GR Student Properties Limited

Unaudited Financial Statements for the Year Ended 30 June 2024






GR Student Properties Limited (Registered number: 10937410)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GR Student Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr G P Rafferty





REGISTERED OFFICE: 71-73 Hoghton Street
Southport
Merseyside
PR9 0PR





REGISTERED NUMBER: 10937410 (England and Wales)





ACCOUNTANTS: Advance Chartered Certified Accountants
71-73 Hoghton Street
Southport
Merseyside
PR9 0PR

GR Student Properties Limited (Registered number: 10937410)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,826 169,988
Investment property 5 4,809,454 4,809,454
4,945,280 4,979,442

CURRENT ASSETS
Debtors 704,982 717,339
Cash at bank 9,140 88,803
714,122 806,142
CREDITORS
Amounts falling due within one year 114,533 143,688
NET CURRENT ASSETS 599,589 662,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,544,869

5,641,896

CREDITORS
Amounts falling due after more than one
year

(2,571,820

)

(2,710,001

)

PROVISIONS FOR LIABILITIES (424,833 ) (414,392 )
NET ASSETS 2,548,216 2,517,503

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 907,956 907,956
Fair value reserve 1,269,756 1,250,856
Retained earnings 370,304 358,491
SHAREHOLDERS' FUNDS 2,548,216 2,517,503

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 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.

GR Student Properties Limited (Registered number: 10937410)

Abridged Balance Sheet - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 March 2025 and were signed by:





Mr G P Rafferty - Director


GR Student Properties Limited (Registered number: 10937410)

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

1. STATUTORY INFORMATION

GR Student Properties 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rent provided in the normal course of business. Rental income is recognised equally over the course of the relevant lease agreement.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - 20% straight line
Fixtures and fittings - not depreciated
Computer equipment - 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

GR Student Properties Limited (Registered number: 10937410)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

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

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.

GR Student Properties Limited (Registered number: 10937410)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 173,971
DEPRECIATION
At 1 July 2023 3,983
Charge for year 34,162
At 30 June 2024 38,145
NET BOOK VALUE
At 30 June 2024 135,826
At 30 June 2023 169,988

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2023
and 30 June 2024 137,024
DEPRECIATION
At 1 July 2023 2,855
Charge for year 33,542
At 30 June 2024 36,397
NET BOOK VALUE
At 30 June 2024 100,627
At 30 June 2023 134,169

GR Student Properties Limited (Registered number: 10937410)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 4,809,454
NET BOOK VALUE
At 30 June 2024 4,809,454
At 30 June 2023 4,809,454

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 4,809,454

6. SECURED DEBTS

Creditors falling due within one year totalling £68,369 (2023: £75,511) are secured over the assets to which they relate.

Creditors falling due over one year totalling £2,565,398 (2023: £2,626,626) are secured over the assets to which they relate.