REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 July 2024 |
for |
Gretpark Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 July 2024 |
for |
Gretpark Properties Limited |
Gretpark Properties Limited (Registered number: 04194115) |
Contents of the Financial Statements |
for the Period 1 May 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Gretpark Properties Limited |
Company Information |
for the Period 1 May 2023 to 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
Co Durham |
DL3 7RT |
Gretpark Properties Limited (Registered number: 04194115) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 6 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Investment property revaluations |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
Gretpark Properties Limited (Registered number: 04194115) |
Notes to the Financial Statements |
for the Period 1 May 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
Gretpark Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provision of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
There were no material departures from the standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
Income is recognised inline with the rental agreement. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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. |
Investment property |
Investment property is included at fair value and gains are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Related party transactions |
All transactions entered into with companies under common control and the directors were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1A. |
Gretpark Properties Limited (Registered number: 04194115) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 July 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | 1,500,000 |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2022 is represented by: |
£ |
Valuation | 2,250,071 |
Cost | 1,249,929 |
3,500,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 1,249,929 | 1,249,929 |
Investment property are valued on an open market basis by the directors supported by previous independent valuations. The directors do not consider there to be any significant movement in the valuations undertaken. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and Social Security |
Accruals and deferred income |
6. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 376,591 | 1,591 |
Gretpark Properties Limited (Registered number: 04194115) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 July 2024 |
6. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Tax impact of revaluation | 375,000 |
Balance at 31 July 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 3 | 3 |